Page 71 - KELAG Annual Report 2017
P. 71

Unrecognised deferred tax assets from tax losses       0.1         0.2

                                      As of 31 December 2017 (and in the prior year), the company assumed that, on the basis of the
                                      prevailing tax laws, the differences between the carrying amount of the equity investment in the
                                      tax accounts and the share in equity or carrying amount of the equity investment (outside-basis
                                      differences) in consolidated subsidiaries and equity investments accounted for using the equity
                                      method  in  consolidated  financial  statements  in  accordance  with  IFRS  –  differences  arising  in
                                      particular  due  to  retained  profit  or  accumulated  losses  –  will  remain  tax  exempt  for  the
                                      foreseeable future. Consequently, the company did not recognise a tax liability for temporary
                                      differences  of  EUR 74.7m  (prior  year:  EUR 69.3m)  in  connection  with  the  investments  in
                                      subsidiaries and associates as of 31 December 2017.

                                       Materials and supplies                                 7.2         7.1
                                       Work in process                                        0.1         1.1
                                       Finished goods and merchandise                         5.9         5.0
                                       Services not yet invoiced                              2.6         2.0
                                       TOTAL INVENTORIES                                     15.7        15.2

                                      The value of the natural gas inventory on the reporting date amounted to EUR 3.6m (prior year:
                                      EUR 3.5m). No impairment losses were recognised in inventories in the financial year 2017 (prior
                                      year: EUR 0.0m).
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