206 / 386
20.2 Notes to the consolidated financial statements for the year ended December 31, 2016
FINANCIAL INFORMATION CONCERNING ASSETS,
FINANCIAL POSITION AND FINANCIAL PERFORMANCE
20
Continuing operations
(in millions of euros)
2016
2015
Net income attributable to equity owners of the parent
(665)
(2,038)
Less income from operations sold, discontinued or held for sale
365
770
Minority interests
(105)
2
Share in net income of joint ventures and associates
14
26
Tax expense (income)
(118)
(93)
Income before tax
(510)
(1,333)
Theoretical tax income (expense)
175
459
Reconciliation
Operations taxed at a rate other than the full statutory rate
(2)
0
Unrecognized deferred taxes
(29)
(407)
Impairment of deferred tax assets recognized in previous years*
Other permanent differences
(25)
41
EFFECTIVE TAX INCOME (EXPENSE)
118
93
* in the tax consolidation area including AREVA SA (France) and AREVA GmbH (Germany).
The revised outlook for the group’s operations and profitability, consistent with the assumptions used for the impairment tests, led the group to not recognize deferred
tax assets for 2015 and 2016.
TAX RATES USED IN FRANCE
(percentage)
2016
2015
Tax rate
34.43
34.43
OTHER PERMANENT DIFFERENCES
Continuing operations
(in millions of euros)
2016
2015
Parent / subsidiary tax treatment and inter-company dividends
0
0
Impact of permanent differences for tax purposes
(3)
(24)
Differences between the French tax rate and tax rates applicable abroad
(10)
(27)
CVAE business tax
0
7
Other permanent differences
(13)
84
TOTAL PERMANENT DIFFERENCES
(25)
41
EFFECTIVE TAX RATE
(in millions of euros)
2016
2015
Operating income
(442)
(1,287)
Net financial income
(68)
(46)
TOTAL INCOME SUBJECT TO TAX
(510)
(1,333)
Tax expense
118
93
Effective tax rate
NA
NA
RECONCILIATION OF INCOME TAX EXPENSE AND INCOME BEFORE TAXES
206
2016 AREVA
REFERENCE DOCUMENT