2014 Registration Document and Annual Financial Report - page 213

5
Financial Statemements
Consolidated Financial Statements and Notes
Note 17.4 Unrecognized deferred tax assets
Unrecognized deferred tax assets at December 31, 2014 amounted to €757 million. Unrecognized deferred tax assets at December 31,
2013 amounted to €721 million.
Unrecognized deferred tax assets at December 31, 2014 will expire in the following periods if not utilized:
(inmillions of euros)
Deductible temporary
differences
Tax loss
carryforwards
Tax credits
Total*
Y+1
-
8
-
8
Y+2
-
4
0
4
Y+3
-
5
0
5
Y+4
-
5
0
5
Y+5 and beyond
1
498
3
502
Evergreen
36
197
-
233
DEFERREDTAX, NET
37
717
3
757
* In line with IFRS 5, unrecognized deferred tax assets of the OnboardTrain Services business are not presented in this note.
In accordance with IAS 12, deferred tax assets are recognized for ordinary and evergreen tax loss carry forwards 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.
NOTE 18
PROFIT OR LOSS FROM DISCONTINUED OPERATIONS
Profit or loss from discontinued operations includes the profit generated by the Italian Onboard dayTrain Services business, which remained
classified as a “discontinued operations” because of the ongoing liquidation process of the Company (see Note 3.B.7).
The consolidated income statements of discontinued operations classified in profit or loss from discontinued operations in Accor’s
consolidated financial statements are presented below:
(inmillions of euros)
2013
2014
CONSOLIDATED REVENUE
69
0
Operating expense
(65)
(4)
EBITDAR
4
(4)
Rental expense
(1)
(0)
EBITDA
3
(4)
Depreciation, amortization and provision expense
(0)
(0)
EBIT
3
(4)
Net financial expense
1
1
Share of profit of associates after tax
-
-
OPERATING PROFIT BEFORE TAX AND NON RECURRING ITEMS
4
(3)
Restructuring costs
(0)
-
Impairment losses
(1)
-
Gains and losses on management of hotel properties
-
-
Gains and losses on management of other assets
(2)
(1)
OPERATING PROFIT BEFORE TAX
1
(4)
Income tax expense
(0)
(0)
NET LOSS FROM DISCONTINUED OPERATIONS
1
(4)
Registration Document 2014
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