AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 569)

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iv) Impairment of property, plant and equipment

When events or changes in market conditions indicate that tangible or intangible assets may be impaired, such

assets are reviewed in detail to determine whether their carrying value is lower than their recoverable value,

which could lead to recording an impairment loss (recoverable value is the higher of its value in use and its fair

value less costs to sell) (see note 2 (e)). Value in use is estimated by calculating the present value of the future

cash flows expected to be derived from the asset. Fair value less costs to sell is based on the most reliable infor-

mation available (market statistics, recent transactions, etc.). No impairment loss was recorded at 31 December

2008 and 2007.

v) Provision for warranty costs and other contractual obligations

Provisions are recorded for warranties given to customers on products or for expected losses and for penalties

incurred in the event of failure to meet contractual obligations. These provisions are calculated based on histori-

cal return rates and warranty costs expensed as well as on estimates. These provisions and subsequent changes to

the provisions are recorded in cost of sales. Costs and penalties that will be effectively paid can differ considera-

bly from the amounts initially reserved and could therefore have a significant impact on future results.

Provisions for contractual obligations represent € 5,928,000 at 31 December 2008 (2007: € 4,834,000) (see note

22).

vi) Deferred taxes

Deferred tax assets relate to tax loss carry forwards and to deductible temporary differences between reported

amounts and the tax bases of assets and liabilities. The assets relating to the tax loss carry forwards are recog-

nised if it is probable that the Group will dispose of future taxable profits against which these tax losses can be

set off.

At 31 December 2008, deferred tax assets were € 4,941,000 (2007: € 9,819,000) (see note 11c). Evaluation of

the Group's capacity to utilise tax loss carry forwards relies on significant judgment. The Group analyses the

positive and negative elements to conclude as to the probability of utilisation in the future of these tax loss carry

forwards, which also consider the factors indicated in note 2(n). This analysis is carried out regularly in each tax

jurisdiction where significant deferred tax assets are recorded.

If future taxable results are considerably different from those forecasts that support recording deferred tax assets,

the Group will be obliged to revise downwards or upwards the amount of the deferred tax assets, which would

have a significant balance sheet and net income impact.

vii) Pension and retirement obligations

As indicated in note 2(l), the Group participates in defined contribution and defined benefit plans for employees.

All these obligations are measured based on actuarial calculations relying upon assumptions, such as the dis-

count rate, return on plan assets, future salary increases, employee turnover and mortality tables.

These assumptions are updated annually. The assumptions adopted for 2008 and how they have been determined

are detailed in note 20.

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AEG 21604 G Bedienungsanleitung Seite 569