Page 357 - 2012 Annual Report

357
VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
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IV - VIVENDI SA 2012 STATUTORY FINANCIAL STATEMENTS
3. NOTES TO THE 2012 STATUTORY FINANCIAL STATEMENTS
Note 28. Deferred Deductions for Taxes
Note 29. Subsequent Events
The main events that occurred between December 31, 2012 and
February 18, 2013, the date on which the 2012 statutory financial
statements were approved by the Management Board, were as follows:
✱ January 9, 2013: U.S. court ruling in the lawsuit between Vivendi and
Liberty Media Corporation.
✱ On February 7, 2013: Vivendi and Universal Music Group entered into
a definitive agreement to sell Parlophone Label Group, a unit of EMI
Recorded Music, to Warner Music Group for £487 million to be paid
in cash.
✱ On February 13, 2013: Lagardère Holding TV filed a complaint against
Vivendi and Canal+ Group with the Paris Commercial Court seeking
restitution, under penalty, from Canal+ Group, of the entire cash
surplus given over by Canal+ France (please see Note 24, Litigation).
✱ On February 15, 2013: Vivendi filed with the Court a Notice of Appeal
against the judgment awarded in the litigation between Vivendi and
Liberty Media Corporation.
Note 28 Deferred Deductions for Taxes
In addition to tax losses carried forward which qualify for relief at the
standard rate and foreign tax credits (please refer to Note 5, Income
Taxes), timing differences between the tax and accounting treatment
of income and expense items would generate a future reduction of
€360.0 million in tax liabilities (including contributions) due to the deferred
deduction for tax purposes of certain expenses.