17. DEFERRED TAX ASSETS AND LIABILITIES                   Changes in deferred taxes during 2004:                     1.1.     31.12.   2004 Recognised in the income statement Recognised in shareholders' equity 2004 Deferred tax assets         Employee benefits 11.9 -7.9 -0.3 3.7 Confirmed losses 1.3 0.2 0.0 1.5 Depreciation of tangible fixed assets 0.0 2.2 0.0 2.2 Finance leasing 2.7 -0.3 -0.2 2.2 Revenue recognition 2.5 -2.2 0.0 0.3 Capitalisation of overhead expenses 0.0 0.0 0.0 0.0 Heavy maintenance allocations 2.7 2.8 -0.6 4.9 Credit loss 1.4 -1.4 0.0 0.0 Other temporary differences 0.5 0.4 0.0 0.9 Total 23.0 -6.2 -1.1 15.7           Deferred tax assets that can be used after more than 12 months           20.2     14.8           Deferred tax liabilities                   Accumulated depreciation difference 22.2 4.4 0.0 26.6 Gains from sale of tangible fixed assets 95.3 -7.6 0.0 87.7 Capitalisation of overhead expenses 0.1 0.2 0.0 0.3 Recognition at fair value 0.0 0.0 0.0 0.0 Other temporary differences 0.9 0.9 0.0 1.8 Valuation of derivates at fair value 0.0 0.0 0.0 0.0 Total 118.5 -2.1 0.0 116.4                     Deferred tax liabilities payable after more than 12 months 110.9     116.3           No deferred tax liability is recognised for undistributed profits of Finnish subsidiaries and associated companies, because in most cases these profits will be transferred to the company without tax consequences.         Deferred tax assets that can be used after more than 12 months                     1.1.     31.12.   2005 Recognised in the income statement Recognised in shareholders' equity 2005 Deferred tax assets         Employee benefits 3.7 0.7 0.0 4.4 Confirmed losses 1.5 1.1 0.0 2.6 Depreciation of tangible fixed assets 2.2 0.1 0.0 2.3 Finance leasing 2.2 -0.3 0.0 1.9 Revenue recognition 0.3 0.0 0.0 0.3 Capitalisation of overhead expenses 0.0 0.0 0.0 0.0 Heavy maintenance allocations 4.9 0.8 0.0 5.7 Other temporary differences 0.9 -0.6 0.0 0.3 Total 15.7 1.8 0.0 17.5           Deferred tax assets that can be used after more than 12 months           14.8     15.0           Deferred tax liabilities                   Accumulated depreciation difference 26.6 1.3 0.0 27.9 Gains from sale of tangible fixed assets 87.7 0.8 0.0 88.5 Capitalisation of overhead expenses 0.3 -0.1 0.0 0.2 Recognition at fair value 0.0 0.9 0.0 0.9 Other temporary differences 1.8 0.0 0.0 1.8 Valuation of derivates at fair value 0.0 0.0 6.5 6.5 Total 116.4 2.9 6.5 125.8                     Deferred tax liabilities payable after more than 12 months 116.3     118.2           No deferred tax liability is recognised for undistributed profits of Finnish subsidiaries and associated companies, because in most cases these profits will be transferred to the company without tax consequences.