Page 72 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
At December 31, 2012 unused tax credits for audiovisual productions amount to a total of 37,153 thousand euros
(2011: 21,320 thousand euros) which can be recovered over the next 10 years.
The breakdown of the deductions is as follows:
Thousands of euros
2012 2011
Deductions pending 2010 2,026 5,694
Deductions pending 2011 15,626 15,626
Deductions pending 2012 19,501 -
37,153 21,320
The Company has availed itself of the deduction provided for in article 42 of Royal Legislative Decree 4/2004, of March
5, which enacted the revised text of the Corporation Tax Law, in respect of income of 1,637 thousand euros. This
amount was generated by the sale of 60% of the Company’s ownership in Cinematext Media, S.A., which was sold on
September 30, 2009.
The Company estimated the taxable profits which it expects to obtain over the next five fiscal years (period for which
it considers the estimates to be reliable) based on budgeted projections. It has likewise analyzed the reversal period of
taxable temporary differences. Based on this analysis, the Company has recognized deferred tax assets for tax credits
and deductible temporary differences which it considers probable will be recoverable in the future.
15.3 Deferred tax liabilities
The breakdown and movements in the various items composing “Deferred tax liabilities” are as follows:
Thousands of euros
Opening
balance at
January 1,
Income
statement
Equity Reclassifications
Closing
balance at
December 31,
2012
Deferred tax liabilities
Other 2,343 75 - - 2,418
Tax amortization of goodwill 1,823 841 - - 2,664
Tax amortization of signal transmission license 1,062 510 - - 1,572
5,228 1,426 - - 6,654
2011
Deferred tax liabilities
Other 1,194 (70) - 1,219 2,343
Tax amortization of goodwill - 1,823 - - 1,823
Tax amortization of signal transmission license - 1,062 - - 1,062
1,194 2,815 - 1,219 5,228