PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
86
27. TAXATION continued e. Deferred Tax Assets
The tax effects from temporary differences between commercial and tax bases are as follows:
2008 2007
Bank Mandiri Deferred tax assets:
Loans write-offs 3,605,776
2,276,445 Allowance for possible losses on earning assets other than loans
872,525 659,274
Allowance for possible loan losses 777,476
429,374 Provision for personnel expenses
665,157 599,122
Estimated losses on commitments and contingencies 87,889
140,394 Allowance for possible losses arising from legal cases-net of provision
for deferred tax asset of Rp24,253 and Rp38,926 for the years ended December 31, 2008 and 2007
25,073 22,614
Provision for abandoned properties 10,641
13,833 Provision for repossessed assets
6,675 7,150
Accumulated losses arising from difference in net realizable value of abandoned properties
5,963 8,774
Accumulated losses arising from difference in net realizable value of repossessed assets
2,926 3,135
Unrealized loss for securities and Government Recapitalization Bonds available for sale
66,233 1,521
Deferred tax assets 6,126,334
4,161,636 Deferred tax liabilities:
Net book value of premises and equipment 44,464 81,161
Mark to market of securities - 7
Net deferred tax assets - Bank Mandiri only 6,081,870
4,080,468 Net deferred tax assets - Subsidiaries
42,049 15,979
Total consolidated deferred tax assets - net 6,123,919
4,096,447
Deferred tax assets is calculated using applicable tax rate or substantially enacted tax rate at balance sheet dates.
28. OTHER LIABILITIES
2008 2007
Rupiah: Provision for post-employment benefits Note 42
925,002 784,938
Provision for free-of service period benefits Note 42 794,159
655,489 Accrued bonus, employee incentives, leave and holiday
775,927 647,930
Payable to customer 483,824
557,822 Guarantee deposits
466,130 527,347
Unearned Income 368,933
351,257 Provision for possible losses on legal cases Note 56d 157,560
204,611 Others
1,897,308 2,681,784
Total Rupiah 5,868,843
6,411,178 Foreign Currency:
Guarantee deposits 440,451
565,340 Unearned Income
198,791 199,043
Provision for possible losses on legal cases Note 56d 18,756
1,131 Obligation under capital lease
2,248 -
Inter-branch accounts - net -
159,328 Others
1,470,279 2,288,011
Total Foreign Currency 2,130,525
3,212,853 7,999,368
9,624,031
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
87
28. OTHER LIABILITIES continued
Movements of provisions for possible losses on legal cases for the years ended December 31, 2008 and 2007 were as follows:
2008 2007
Balance at beginning of year 205,742
316,227 Reversal during the year Note 37
31,133 106,619
Others 1,707
3,866
Balance at end of year 176,316
205,742
Includes effect of foreign currency translation.
Management believes that the provision for possible losses on legal cases is adequate. 29. SUBORDINATED LOANS
a. By Currency:
2008 2007
Rupiah: Two-Step Loans TSL
Nordic Investment Bank NIB a 181,089
213,724 ASEAN Japan Development Fund-Overseas
Economic Cooperation Fund AJDF-OECF b 58,505
71,506 ASEAN Japan Development Fund-Export-Import
Bank of Japan AJDF-EBJ c 562
1,687 Asian Development Bank ADB d
- 688
240,156 287,605
Bank Indonesia 2,366,859
2,423,859 Total Rupiah
2,607,015 2,711,464
Foreign Currency: Two-Step Loans - Asian Development Bank ADB d
229,635 203,864
Two-Step Loans - Kreditanstalt fur Wiederaufbau, Frankfurt KfW e -
19,947 Total Foreign Currency
229,635 223,811
2,836,650 2,935,275
b. By Type:
2008 2007
Two-Step Loans TSL Nordic Investment Bank NIB a
181,089 213,724
ASEAN Japan Development Fund-Overseas Economic Cooperation Fund AJDF-OECF b
58,505 71,506
ASEAN Japan Development Fund-Export-Import Bank of Japan AJDF-EBJ c
562 1,687
Asian Development Bank ADB d 229,635
204,552 Kreditanstalt fur Wiederaufbau, Frankfurt KfW e
- 19,947
469,791 511,416
Bank Indonesia 2,366,859
2,423,859 2,836,650
2,935,275
