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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
MOVEMENTS IN DEFERRED TAX ASSETS AND LIABILITIES BREAK DOWN AS FOLLOWS:
In millions of euros
Employee
benefit
obligations
Tax loss
carryforwards
Other
Unrecognised
deferred
tax assets*
Deferred tax
assets (a)
Deferred tax
liabilities (b)
Net deferred
tax assets
(a-b)
At 31 December 2014
7.6
3.9
4.4
(2.7)
13.2
(2.2)
11.0
Effect of changes in scope of consolidation
–
–
1.0
–
1.0
–
1.0
Year-on-year changes recognised
in the income statement
(0.4)
(0.6)
(0.6)
0.6
(1.0)
–
(1.0)
Deferred taxes recognised
in other comprehensive income
(1.2)
–
(0.1)
–
(1.3)
0.2
(1.1)
Deferred taxes recognised in equity
–
–
–
–
–
0.5
0.5
Currency translation differences
–
–
0.1
–
0.1
–
0.1
Other
–
–
0.3
–
0.3
(0.3)
–
At 31 December 2015
6.0
3.3
5.1
(2.1)
12.3
(1.8)
10.5
Effect of changes in scope of consolidation
–
0.2
0.3
(0.1)
0.4
–
0.4
Year-on-year changes recognised
in the income statement
(0.5)
7.8
(12.1)
(0.1)
(3.2)
0.4
(4.5)
Deferred taxes recognised
in other comprehensive income
0.4
–
0.4
–
0.8
–
0.8
Deferred taxes recognised in equity
–
(0.5)
10.3
–
9.8
–
9.8
At 31 December 2016
5.9
10.8
4.0
(2.3)
18.4
(1.4)
17.0
* Deductible temporary differences, unused tax losses and unused tax credits for which no deferred tax assets have been recognised but whose recoverability is probable.
During 2016 the French tax group recorded a tax loss for which a
€7.7 million deferred tax asset was recognised based on the probability
of its recoverability in the short- and medium-term.
The €10.3 million reclassification from “Year-on-year changes
recognised in the income statement” to “Deferred taxes recognised
in other comprehensive income” relates to the buybacks of Ordinane
bonds that took place in 2016.
Other deferred tax assets mainly concerned employee profit-sharing,
depreciation and amortisation and derivative instruments.
ASSYSTEM
REGISTRATION DOCUMENT
2016
119