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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Deferred tax assets and liabilities
8.2
The Group had a net deferred tax asset of 236 million euros at December
31, 2015. The change compared with December
31, 2014 was not
material.
December 31, 2015
December 31, 2014
Change
(in millions of euros)
Deferred tax assets
744
759
(15)
Deferred tax liabilities
(508)
(523)
15
NET DEFERRED TAX ASSETS
236
236
(0)
The following table shows the main sources of deferred taxes:
Change
December 31,
December 31,
2014
2015
(in millions of euros)
Changes in
consolidation
Income tax on
scope,
other
translation
Income comprehensive
adjustment,
statement
income (OCI)
other
Tax loss carryforwards
1,055
14
-
(52)
1,017
Property and equipment
309
(26)
-
(21)
262
Non-deductible provisions
909
(26)
9
(39)
854
Goodwill amortization allowed for tax purposes
185
(14)
-
1
171
Other intangible assets
7
(3)
-
(0)
4
Inventories
193
7
-
(25)
174
Financial instruments
34
(1)
(3)
(1)
29
Other temporary differences
353
11
-
(35)
329
Deferred tax assets before netting
3,046
(39)
6
(174)
2,840
Effect of netting deferred tax assets and
liabilities
(583)
(17)
-
(36)
(636)
Deferred tax assets after netting
2,463
(55)
6
(210)
2,204
Valuation allowances on deferred tax assets
(1,704)
64
1
180
(1,459)
Net deferred tax assets
759
8
8
(30)
744
Property and equipment
(295)
10
-
40
(245)
Provisions recorded solely for tax purposes
(347)
26
-
1
(320)
Goodwill amortization allowed for tax purposes
(177)
(28)
-
47
(158)
Other intangible assets
22
(29)
-
(12)
(20)
Inventories
(38)
3
-
(1)
(37)
Financial instruments
(43)
(17)
5
8
(46)
Other temporary differences
(230)
(42)
-
(45)
(318)
Deferred tax liabilities before netting
(1,108)
(78)
5
37
(1,144)
Effect of netting deferred tax assets and
liabilities
585
17
-
33
636
Deferred tax liabilities after netting
(523)
(61)
5
71
(508)
NET DEFERRED TAXES
236
(53)
13
41
236
Unrecognized deferred tax assets
8.3
Unrecognized deferred tax assets amounted to 1,459 million euros at
(December
31, 2014: 949
million euros) and 628 million euros on
December
31, 2015 (December
31, 2014: 1,704
million euros),
temporary differences (December 31, 2014: 754 million euros).
including 831
million euros related to tax loss carryforwards
2015 REGISTRATION DOCUMENT
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