PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 590 28. TAXATION continued
e. Deferred tax assets
Deferred tax arises from temporary differences between book value based on commercial and tax calculation are as follows:
2009 2008
2007 Bank Mandiri
Deferred tax assets: Loans write-off
2,894,873 3,605,776
2,276,445 Allowance for possible on loan losses
1,239,895 777,476
429,374 Allowance for personnel expenses
769,586 665,157
599,122 Allowance for possible losses on earning assets other
than loans 609,493
872,525 659,274
Estimated losses on commitments and contingencies 81,641
87,889 140,394
Allowance for other assets 100,000
- -
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 31 December 2008 and 2007
105,056 25,073
22,614 Unrealised losses for marketable securities and
Government Bonds available for sale 86,947
66,233 1,521
Allowance for abandoned properties 47,095
10,641 13,833
Allowance for repossessed assets 29,205
6,675 7,150
Accumulated losses arising from difference in net realisable value of abandoned properties
3,306 5,963
8,774 Accumulated losses arising from difference in net
realisable value of repossessed assets 2,541
2,926 3,135
Deferred tax assets 5,969,638
6,126,334 4,161,636
Deferred tax liabilities: Net book value of fixed assets
25,697 44,464
81,161 Mark to market of marketable securities
3,899 -
7 Net deferred tax assets - Bank Mandiri only
5,940,042 6,081,870
4,080,468 Net deferred tax assets - Subsidiaries
74,043 42,049
15,979
Total consolidated deferred tax assets - net 6,0 14,085
6,123,919 4,096,447
Deferred tax assets are calculated using applicable tax rate or substantially enacted tax rate at balance sheet dates.
Management believes that it is possible that future taxable income will be available against the temporary difference, which results in deferred tax assets, can be utilised.
29. OTHER LIABILITIES
2009 2008
2007
Rupiah: Accrued bonus, employee incentives, leave and
yearly allowance THR 1,066,838
775,927 647,930
Provision for post employment benefits Note 43 1,044,505
925,002 784,938
Provision for free of service period facilities Note 43 973,347
794,159 655,489
Payable to customer 516,897
483,824 557,822
Allowance for possible losses on legal cases Note 57c 494,200
157,560 204,611
Guarantee deposits 493,899
466,130 527,347
Deferred income 377,442
368,933 351,257
Others 2,566,160
1,897,308 2,681,784
Total Rupiah 7,5 33,288
5,868,843 6,411,178
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 591 29. OTHER LIABILITIES continued
2009 2008
2007
Foreign currencies: Guarantee deposits
537,120 440,451
565,340 Deferred income
148,856 198,791
199,043 Allowance for possible losses on legal cases Note 57c
20,166 18,756
1,131 Obligation under capital lease
1,008 2,248
- Others
892,148 1,470,279
2,447,339 Total foreign currencies
1,599,29 8 2,130,525
3,212,853 9,1 32,586
7,999,368 9,624,031
As at 31 December 2009, others mainly consist of accruals in relation to Bank’s operational cost amounted to Rp702,402 2008: Rp458,480 and 2007: Rp428,770 and payment related to ATM and credit
card transaction amounted to Rp288,998 2008: Rp595,089 and 2007: Rp966,750.
Movements of allowance for possible losses on legal cases for the years ended 31 December 2009, 2008 and 2007 were as follows:
2009 2008
2007
Balance at beginning of year 176,316
205,742 316,227
Allowancereversal during the year Note 38 340,707
31,133 106,619
Others 2,657
1,707 3,866
Balance at end of year 514,366
176,316 205,742
Includes effect of foreign currency translation.
Management believes that the allowance for possible losses on legal cases is adequate.
30. SUBORDINATED LOANS
By Type and Currency:
2009 2008
2007
Rupiah: Two-Step Loans TSL
a Nordic Investment Bank NIB
159,784 181,089
213,724 b
ASEAN Japan Development Fund-Overseas Economic Cooperation Fund AJDF-OECF
45,504 58,505
71,506 c
ASEAN Japan Development Fund-Export-Import Bank of Japan AJDF-EBJ
- 562
1,687 d
Asian Development Bank ADB -
- 688
205,288 240,156
287,605 Bank Indonesia
2,319,559 2,366,859
2,423,859 Subordinated Bond Rupiah Bank Mandiri I
3,500,000 -
- Total Rupiah
6,024,847 2,607,015
2,711,464 Foreign currencies:
d Two-Step Loans - Asian Development Bank
ADB 192,221
229,635 203,864
e Two-Step Loans - Kreditanstalt fur Wiederaufbau,
Frankfurt KfW -
- 19,947
Total Foreign currencies 192,221
229,635 223,811
6,217,068 2,836,650
2,935,275