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11 Income taxes
CHF million
2016
2015
Current income taxes
63.3
39.6
Deferred income taxes
–2.9
0.8
Total
60.4
40.5
Reconciliation between expected and actual income tax expenses:
CHF million
2016
2015
Profit before taxes
194.2
109.2
Expected average income tax rate
29.8%
30.4%
Expected income tax expenses
57.8
33.2
Non-taxable income and non-deductible expenses
0.4
4.7
Current income taxes from prior periods
0.5
4.4
Current year losses for which no deferred tax assets were recognized
8.3
12.4
Utilization of previously unrecognized tax loss carryforwards
–4.1
–8.6
Change in unrecognized tax losses and deductible temporary differences
–8.6
–1.4
Non-recoverable withholding taxes
5.3
1.4
Income taxes at other income tax rates or taxable base
1.2
–6.3
Impact of changes in income tax rates
0.2
0.8
Other effects
–0.6
–0.1
Actual income tax expenses
60.4
40.5
The change in the expected average income tax rate is mainly due to the different geographic
composition of profit or loss before taxes.
Deferred income tax assets and liabilities pertain to the following balance sheet line items:
CHF million
Deferred income
tax assets
31.12.2016
Deferred income
tax liabilities
31.12.2016
Deferred income
tax assets
31.12.2015
Deferred income
tax liabilities
31.12.2015
Tangible assets
1.8
–16.7
3.4
–16.0
Inventories
5.9
–0.8
5.4
–0.8
Other assets
4.3
–11.5
2.5
–3.2
Employee benefit liabilities
9.4
–
1.8
–
Provisions
3.6
–1.3
3.7
–1.5
Other liabilities
5.6
–5.4
5.0
–6.4
Tax loss carryforwards and tax credits
29.7
27.0
Subtotal
60.2
–35.7
48.8
–27.9
Offsetting
–25.0
25.0
–17.1
17.1
Total
35.2
–10.7
31.7
–10.8
89
Autoneum
Financial Report 2016
Consolidated Financial Statements