25. Taxes
| CHF million | 2014 | 2013 |
|---|---|---|
| Current taxes | 133.8 | 106.4 |
| Deferred taxes | – 8.8 | – 11.8 |
| Other taxes | 4.9 | 3.6 |
| Total | 129.9 | 98.3 |
The tax on the Group's income before tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated companies as follows:
| CHF million | 2014 | 2013 |
|---|---|---|
| Income before taxes | 472.5 | 401.3 |
| Expected tax 1) | 121.3 | 106.3 |
| Change in applicable tax rates on temporary differences | – | 0.6 |
| Utilization of unrecognized tax loss carry-forwards from prior years | – | – 28.0 |
| Adjustments related to prior years | – 2.0 | – 1.6 |
| Other | 10.6 | 20.9 |
| Total | 129.9 | 98.3 |
1) Based on the average applicable tax rate (25.7% in 2014; 26.5% in 2013).
The tax for each component of other comprehensive income is:
| 2014 | 2013 | |||||
| CHF million | Before tax | Tax | After tax | Before tax | Tax | After tax |
| Hedge accounting | – 2.3 | 0.6 | – 1.7 | 17.2 | – 0.4 | 16.8 |
| Defined benefit plan | 131.4 | – 41.1 | 90.3 | 1,016.7 | – 360.0 | 656.7 |
| Currency translation | 80.8 | – | 80.8 | – 11.5 | – | – 11.5 |
| Total | 209.9 | – 40.5 | 169.4 | 1,022.4 | – 360.4 | 662.0 |