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177
2014 Registration Document
Consolidated Financial Statements Year ended December 31, 2014
5
Notes to the Consolidated statements
The following table shows the main sources of deferred taxes:
(in € millions)
Change
December 31,
2013
Income
statement
Shareholder’s
equity (other
comprehensive
income)
Changes in
consolidation
scope,
translation
adjustment,
other
December 31,
2014
Tax loss carryforwards
870
5
0
179
1,055
Property and equipment
344
(6)
0
(28)
309
Non-deductible provisions
851
(29)
72
15
909
Goodwill
amortization allowed for tax purposes
173
14
0
(2)
185
Other intangible assets
5
(0)
0
2
7
Inventories
135
23
0
35
193
Financial instruments
28
18
(7)
(4)
34
Other temporary differences
414
6
1
(68)
353
Deferred tax assets before netting
2,821
30
66
128
3,046
Effect of netting deferred tax assets and liabilities
(495)
2
0
(89)
(583)
Deferred tax assets net of deferred tax liabilities
2,325
32
66
39
2,463
Valuation allowances on deferred tax assets
(1,444)
(83)
(4)
(173)
(1,704)
Net deferred tax assets
881
(51)
63
(134)
759
Property and equipment
(318)
39
0
(16)
(295)
Untaxed provisions
(248)
(61)
0
(37)
(347)
Goodwill
amortization allowed for tax purposes
(182)
(6)
0
11
(177)
Other intangible assets
(8)
1
0
29
22
Inventories
(36)
(1)
0
(1)
(38)
Financial instruments
(32)
1
(16)
4
(43)
Other temporary differences
(192)
(20)
0
(18)
(230)
Deferred tax liabilities before netting
(1,016)
(48)
(16)
(28)
(1,108)
Effect of netting deferred tax assets and liabilities
495
0
0
90
585
Deferred tax liabilities net of deferred tax assets
(520)
(48)
(16)
61
(523)
NET DEFERRED TAXES
361
(99)
47
(72)
236
Note 21
Deferred taxes
The Group had a net deferred tax asset of €236 million at December 31, 2014, a decrease of €124 million compared with the previous year-end.
(in € millions)
December 31, 2013 December 31, 2012
Change
Deferred tax assets
759
881
(122)
Deferred tax liabilities
(523)
(521)
(2)
NET DEFERRED TAX ASSET
236
361
(124)
UNRECOGNIZED DEFERRED TAX ASSETS
Unrecognized deferred tax assets amounted to €1,704 million at
December 31, 2014 (December 31, 2013: €1,444 million), including
€949 million related to tax loss carryforwards (December 31, 2013:
€743 million) and €754 million on temporary differences (December 31,
2013: €701 million).