Carrefour - 2017 Registration Document

6 COMPANY FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2017 Notes to the Company Financial Statements CARREFOUR | 2017 REGISTRATION DOCUMENT 313 Tax Note 12 Unrecognised deferred taxes 12.1 (in millions of euros) Dec. 31, 2016 Changes Dec. 31, 2017 Assets Liabilities Assets Liabilities Assets Liabilities 1 - Temporarily non-deductible expenses Provisions for pension obligations ● 48 - (27) - 21 - Provisions for impairment of ● receivables - - - - - - Provisions for contingencies and ● charges 3 - (1) - 2 - Other ● 2 - Temporarily non-taxable revenue Capital gains on mergers and asset ● contributions qualifying for rollover relief - 280 - (30) - 250 TOTAL 51 280 (28) (30) 23 250 The decrease in deferred tax liabilities is attributable to the planned reduction in the tax rate from 28.92% to 25.83% in 2022. This latter rate has been applied to the measurement of deferred tax liabilities since the income tax on the related transactions is payable beyond 2022. Breakdown of net income and corresponding tax 12.2 (in millions of euros) Before tax Tax After tax Recurring income before profit-sharing (4,355) (121) (4,476) Net non-recurring expense (35) 2 (33) Group relief - 349 349 2017 BOOK INCOME (4,390) 230 (4,160) Subsequent events Note 13 No events have occurred since the year-end that would have a material impact on the Company.