12
Income Taxes
he
major components of income tax
expense for 2012, 2011 and 2010 were:
n mi
llions of
2012
2011
2010
tinuing operations
Current tax
110
103
17(1)
Taxes related to prior years recorded
in the current year
(57)(2)
5
(2)
Utilization of previously unrecognized
tax losses and tax credits
(1)
Other (current tax related)
2
Deferred tax
(62)
52
226(1)
Deferred taxes related to prior years r
■ecorded in the current year
6
(5)
3
Recognition of deferred tax on previo
usly unrecognized tax losses and tax credits
(6)
(2)
Derecognition of previously recorded
deferred tax assets
18
3
2
Deferred tax expense relating to char
(3)
ges in tax rates or the imposition of new taxes
13
1
(1)
ota
l income tax expense from continui
ng operations
24
156
245
ota
l income tax expense from disconti
nued operations
(2)
ota
l income tax expense from continui
ng and discontinued operations
22
156
245
(1) 2011 was adjusted for the reclassification of the Albanian operations to discontinued operations.
(2) In 2010, c urrent tax decreased and deferred tax increased primarily due to a change in tax treatment of capital expenditures in the U.S.,
deductible for tax purposes and therefore increase the deferred tax liabilities.
(3) Prima rily related to the resolution of several tax matters in the U.S. which resulted in the recognition of an income tax benefit.
(4) In December 2012, the Serbian governm ent enacted an increase in tax rate from 10 to 15%, effective as from January 1, 2013.
(1) In 2010, c urrent tax decreased and deferred tax increased primarily due to a change in tax treatment of capital expenditures in the U.S., which are considered
deductible for tax purposes and therefore increase the deferred tax liabilities.
(2) Prima rily related to the resolution of several tax matters in the U.S. which resulted in the recognition of an income tax benefit.
(3) In December 2012, the Serbian governm ent enacted an increase in tax rate from 10 to 15%, effective as from January 1, 2013.
Profit before taxes can be reconciled with net profit as follows:
(in millions of 2012 20110' 2010
continuing operations
149
633
821
)iscontinued operations
(24)
(2)
(1)
otal profit before taxes
125
631
820
continuing and discontinued operation
s
Current tax
109
103
17(2)
Taxes related to prior years recorded
in the current year
(57)(3)
5
(2)
Utilization of previously unrecognized
tax losses and tax credits
(1)
Other (current tax related)
2
Deferred tax
(63)
52
226(2)
Deferred taxes related to prior years r
"ecorded in the current year
6
(5)
3
Recognition of deferred tax on previo
usly unrecognized tax losses and tax credits
(6)
(2)
Derecognition of previously recorded
deferred tax assets
18
3
2
Deferred tax expense relating to chan
(4)
iges in tax rates or the imposition of new taxes
13
1
(1)
otal income tax expense from continui
ng and discontinued operations
22
156
245
Jet profit
103
475
575
142 DELHAIZE GROUP EINANCIAL STATEMENTS'12
