CCL Industries Inc. 2011 Annual Report 65 The unrecognized deferred tax assets on tax losses of $2,794 will expire between 2012 and 2025, $6,451 will expire beyond 2025 and $13,297 may be carried forward indefinitely. The deductible temporary differences do not expire under current tax legislation. Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable income will be available against which the Company can utilize the benefits therefrom. Income tax credits of $1,032 expire in 2012 and 2013 and $1,636 expire between 2012 and 2017. In 2010, $2,882 of previously unrecognized tax losses were recognized as management considered it probable that future taxable income will be available against which they can be utilized. An additional $154 of previously unrecognized tax losses were recognized in 2011, following a further change in the estimates of future taxable income. Long-term investments primarily consist of government and corporate bonds held by a wholly owned captive insurance company. This subsidiary acts as a reinsurer of property, casualty and marine risk of affiliated companies. Included in other are long-term receivables. 15. OTHER ASSETS 16. TRADE AND OTHER PAYABLES Dec 31, 2011 Dec 31, 2010 Jan 1, 2010 Long-term investments $ 12,522 $ 14,852 $ 20,416 Other 3,044 3,752 3,873 $ 15,566 $ 18,604 $ 24,289 Dec 31, 2011 Dec 31, 2010 Jan 1, 2010 Trade payables $ 133,180 $ 127,778 $ 115,908 Other payables 100,783 102,563 99,292 $ 233,963 $ 230,341 $ 215,200 Deferred tax assets have not been recognized in respect of the following items: 17. DEFERRED TAX Unrecognized deferred tax assets Dec 31, 2011 Dec 31, 2010 Deductible temporary differences $ 1,547 $ 708 Tax losses 22,542 19,322 Income tax credits 2,668 3,916 $ 26,757 $ 23,946