2013 Registration document and annual financial report - page 228

Registration Document 2013
226
Financial Statemements
5
Consolidated Financial Statements And Notes
Note 16.3. Details of deferred tax (Statement of financial position)
(in millions of euros)
Dec. 2012*
Dec. 2013
Timing differences between company profit and taxable profit
77
77
Timing differences between consolidated profit and company profit
21
33
Recognized tax losses
53
38
Total, deferred tax assets
151
148
Timing differences between company profit and taxable profit
30
21
Timing differences between consolidated profit and company profit
89
97
Recognized tax losses
0
0
Total, deferred tax liabilities
119
118
DEFERREDTAXASSETS, NET (LIABILITIES)
32
30
* Adoption of the amendment to IAS 19 “Employee Benefits” from January 1, 2013 with retrospective application to the period presented led to the immediate recognition
in the opening statement of financial position at January 1, 2012 of all unrecognized past service costs.The effect of this change of method was a €3 million increase
in deferred tax liabilities at December 31, 2012 (see note 1, page 189, for an explanation of the changes of method and their effects).
Note 16.4. Unrecognized deferred tax assets
Unrecognized deferred tax assets at December 31, 2013 amounted to €721 million. Unrecognized deferred tax assets at December 31,
2012 amounted to €784 million.
Unrecognized deferred tax assets at December 31, 2013 will expire in the following periods if not utilized:
(in millions of euros)
Deductible temporary
differences
Tax loss
carryforwards
Tax credits
Total
Y+1
-
7
-
7
Y+2
-
3
0
3
Y+3
-
2
0
2
Y+4
-
5
0
5
Y+5 and beyond
11
501
3
515
Evergreen
29
160
-
189
DEFERREDTAX, NET
40
678
3
721
In accordance with IAS 12, deferred tax assets are recognized for ordinary and evergreen tax loss carryforwards only to the extent that it
is probable that future taxable profits will be available against which the assets can be utilized.The Group generally estimates those future
profits over a five-year period, and each year reviews the projections and assumptions on which its estimates are based, in accordance
with the applicable tax rules.
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