Carrefour - 2017 Registration Document

5 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 Notes to the Consolidated Financial Statements CARREFOUR | 2017 REGISTRATION DOCUMENT 253 Deferred tax assets and liabilities 8.2 The Group had a net deferred tax asset of 147 million euros at December 31, 2017, a decrease of 138 million euros compared with the previous year-end. (in millions of euros) December 31, 2017 December 31, 2016 Change Deferred tax assets 636 829 (193) Deferred tax liabilities (489) (543) 55 NET DEFERRED TAX ASSETS 147 285 (138) The following table shows the main sources of deferred taxes: (in millions of euros) December 31, 2016 Change December 31, 2017 Income statement Income tax on other comprehensive income (OCI) Changes in consolidation scope, translation adjustment, other Tax loss carryforwards 1,101 119 - (113) 1,108 Property and equipment 218 1 - (15) 205 Non-deductible provisions 962 (155) (28) (41) 738 Goodwill amortisation allowed for tax purposes 201 45 - 1 247 Other intangible assets 3 1 - (0) 4 Inventories 181 10 - (18) 172 Financial instruments 48 (38) (3) (1) 5 Other temporary differences 250 (79) - (53) 118 Deferred tax assets before netting 2,964 (97) (31) (239) 2,597 Effect of netting deferred tax assets and liabilities (590) 2 - 81 (508) Deferred tax assets after netting 2,374 (95) (31) (158) 2,090 Valuation allowances on deferred tax assets (1,545) (62) 0 153 (1,454) Net deferred tax assets 829 (157) (31) (5) 636 Property and equipment (292) (6) - 90 (208) Provisions recorded solely for tax purposes (376) (37) - (0) (413) Goodwill amortisation allowed for tax purposes (197) (2) - 28 (171) Other intangible assets (0) 3 - (4) (1) Inventories (21) 2 - - (19) Financial instruments (16) (5) 13 0 (7) Other temporary differences (232) 82 - (27) (177) Deferred tax liabilities before netting (1,134) 37 13 88 (997) Effect of netting deferred tax assets and liabilities 590 (2) - (81) 508 Deferred tax liabilities after netting (543) 35 13 7 (489) NET DEFERRED TAXES 285 (122) (18) 2 147 Unrecognised deferred tax assets 8.3 Unrecognised deferred tax assets amounted to 1,454 million euros (December 31, 2016: 768 million euros) and 716 million euros on at December 31, 2017 (December 31, 2016: 1,545 million euros), temporary differences (December 31, 2016: 777 million euros). including 738 million euros related to tax loss carryforwards