New Wave Group Annual Report 2020 English | Page 89

NWG // FINANCIAL INFORMATION // THE GROUP
Deferred tax assets and liabilities in the Group assigned to :
SEK million
2020 Assets
Liabilities
2019 Assets
Liabilities
Loss carry-forwards
45.3
0.0
41.7
0.0
Inventory
48.1
12.8
58.4
13.4
Amortization , depreciation and fixed assets
5.8
7.0
10.3
12.4
Accounts receivable
6.8
0.0
8.9
0.0
Personnel costs
0.7
0.0
1.9
0.0
Prepaid expenses
-1.2
0.1
0.0
1.9
Trademarks
0.0
100.9
0.0
109.2
Tax allocation reserves and accelerated depreciation
0.0
21.8
0.0
17.3
Cash flow hedges
3.2
0.0
0.5
0.0
Other temporary differences
0.4
-0.1
0.8
0.3
Set-off of deferred tax assets and deferred tax liabilities
-2.5
-2.5
-9.8
-9.8
Deferred tax assets and liabilities
106.7
140.0
112 . 8
144.8
Loss carry-forwards
At the year-end the Group had total tax loss carry-forwards of SEK 462.5 ( 434.6 ) million . Deferred tax has been recognized on SEK 195.3 ( 169.7 ) million of the tax losses which has resulted in a deferred tax asset of SEK 45.3 ( 41.7 ) million . The maturity for all tax loss carry-forwards is shown in the table below .
Deferred tax liability arising from tax allocation reserves and accelerated depreciation in Sweden are due as follows :
SEK million
2020
2019
2021
0,0
0,0
2022
0,0
0,8
2023
1,5
5,1
2024
2,9
4,9
2025
4,7
4,2
2026
10,5
0,0
Unlimited lifetime
2,3
2,3
Total
21,9
17,3
Total loss carry-forwards expire as follows :
SEK million
2020
2019
2022
7.3
8.3
2023
9.9
11.2
2024 12.6 14.4
2025 7.7 8.2
2026 0.3 0.0
2027 11 . 8 12.9
2028 15.0 16.5
2029 0.0 0.0
2030-2040
102.6
97.4
Unlimited lifetime
295.2
265.7
Total
462.5
434.6
In the Group there are tax loss carry-forwards in a number of companies within different tax groups . In each separate case an assessment is made , with reasonable certainty , whether or not the loss carry-forwards will be utilized . The assessment takes into consideration managements forecasts , historical and present performance levels and the expiration date of the loss carry-forwards . Based on the assessments , the loss carryforwards are divided into three different groups where group A represents fully recognized loss carry-forwards , group B represents partially recognized loss carry-forwards and group C represents loss carry-forwards that have not been recognized at all . The distribution is shown in the tables below .
2020 Total
SEK million loss carryforwards
Of which recognized tax
Loss carryforwards with no recorded tax of which not recognized tax
Group A
121.7
26.2
0.0
0.0
B
163.8
19.1
90.1
24.0
C
177.0
0.0
177.0
43.9
Total
462.5
45.3
267.1
67.9
2019 Total
SEK million loss carryforwards
Of which recognized tax
Loss carryforwards with no recorded tax of which not recognized tax
Group A
100.0
23.4
0.0
0.0
B
153.0
18.3
83.2
22.4
C
181.7
0.0
181.7
43.9
Total
434.6
41.7
264.9
66.3
ANNUAL REPORT // 089