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104
10 Income taxes (continued)
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Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
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,
December 29,
2012
million
2013
(restated)1
Deferred tax assets
411
512
Deferred tax liabilities
(123)
(98)
Net deferred tax assets
288
414
1 See Note 3 for an explanation of the restatements.
As of December 29, 2013, Ahold had operating and capital loss carryforwards of a total nominal amount of €1,239 million, mainly expiring between 2019 and 2033 (December 30, 2012:
€1,346 million). The following table specifies the years in which Ahold's operating and capital loss carryforwards and tax credits are scheduled to expire:
2019-
2024-
After
Does not
million
2014
2015
2016
2017
2018
2023
2028
2028
expire
Total
Operating and capital losses (nominal value)
5
31
8
25
22
350
476
307
15
1,239
Operating and capital losses (tax value)
1
6
2
8
8
50
26
17
5
123
Tax credits
7
7
5
5
4
6
1
5
40
Tax losses and tax credits
8
13
7
13
12
56
27
17
10
163
Operating and capital loss carryforwards related to one jurisdiction may not be used to offset income taxes in other jurisdictions. Of the loss carryforwards, €1,037 million relates to U.S. state
taxes, for which a weighted average tax rate of 5.41% 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 are as follows:
million
2013
2012
(restated)1
Share-based compensation
12
4
Cash flow hedges
(15)
11
Currency translation differences in foreign interest
1
Remeasurement of defined benefit pension plans
(83)
331
Total
(85)
346
1 See Note 3 for an explanation of the restatements.
