10 Income taxes (continued)
Ahold Annual Report 2012 97
Ahold at a glance
Our strategy
Our performance
Governance
Financials
Investors
Notes to the consolidated
financial statements
Deferred income tax assets and liabilities are offset on the balance sheet when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred
income taxes relate to income taxes levied by the same fiscal authority. The deferred tax assets and liabilities are presented as non-current assets and liabilities on the balance sheet as follows:
December 30, January 1,
million 2012 2012
Deferred tax assets 353 394
Deferred tax liabilities (292)
Net deferred tax assets 61 195
As of December 30, 2012, Ahold had operating and capital loss carryforwards of a total nominal amount of €1,346 million, mainly expiring between 201 3 and 2031 (January 1, 2012:
€2,771 million). The following table specifies the years in which Ahold's operating and capital loss carryforwards, and tax credits are scheduled to expire:
2018- 2023- After Does not
million 2013 2014 2015 2016 2017 2022 2027 2027 expire Total
Operating and capital losses (nominal value) 6 10 40 12 30 280 561 400 7 1,346
Operating and capital losses (tax value)
1
2
8
2
9
53
30
23
2
130
Tax credits
12
7
6
4
4
5
1
0
10
49
Tax losses and tax credits
13
9
14
6
13
58
31
23
12
179
Operating and capital loss carryforwards related to one jurisdiction may not be used to offset income taxes in other jurisdictions. Of the loss carryforwards, €1,138 million relates to U.S. state
taxes, for which a weighted average tax rate of 5.45% applies.
The majority of the above mentioned deferred tax assets relate to tax jurisdictions in which Ahold has suffered a tax loss in the current or a preceding period. Significant judgment is required
in determining whether deferred tax assets are realizable. Ahold determines this on the basis of expected taxable profits arising from the reversal of recognized deferred tax liabilities and on
the basis of budgets, cash flow forecasts and impairment models. Where utilization is not considered probable, deferred tax assets are not recognized.
Income taxes in equity
Current and deferred income taxes recognized in and transferred from equity in 2012 and 2011 are as follows:
million
2012
2011
Share-based compensation
4
(3)
Cash flow hedges
11
11
Currency translation differences in foreign interests - 1
Total
15
9
