The movement in the deferred income tax account after set-offs is as follows:
(all amounts in Euro thousands)
|
Group |
Company |
| |
2017 |
2016 |
2017 |
2016 |
| Opening balance, net deferred liability |
35,626 |
162,980 |
12,438 |
7,518 |
| Income statement charge (note 8) |
12,784 |
-71,869 |
-6,233 |
5,559 |
| Effect of change in USA federal tax rate (note 8) |
-7,905 |
- |
- |
- |
| Tax charged to equity through other comprehensive income |
-1,715 |
-9,704 |
-127 |
-639 |
| Additions due to acquisition of joint venture (note 30) |
- |
1,605 |
- |
- |
| Fair value adjustments due to joint venture acquisition (note 30) |
- |
2,062 |
- |
- |
| Exchange differences |
-2,072 |
-49,448 |
- |
- |
| Ending balance, net deferred liability |
36,718 |
35,626 |
6,078 |
12,438 |
|
Group |
Company |
| |
2017 |
2016 |
2017 |
2016 |
| Analysis of deferred tax liabilities (before set - offs) |
|
| Property, plant and equipment |
122,894 |
167,061 |
29,609 |
32,568 |
| Mineral deposits |
19,802 |
33,866 |
- |
- |
| Intangible assets |
32,132 |
47,461 |
26 |
52 |
| Unrealized foreign exchange differences |
-8,841
|
-62 |
- |
- |
| Provisions |
-342 |
1,455 |
- |
1,800 |
| Investments |
584 |
1,392 |
- |
- |
| Receivables and prepayments |
351 |
351 |
- |
- |
| Trade and other payables |
161 |
635 |
156 |
631 |
| Prepaid expenses |
860 |
1,476 |
- |
- |
| Cash and cash equivalents |
12 |
131 |
12 |
131 |
| Other |
565 |
1,471 |
- |
- |
| |
168,178 |
255,237 |
29,803 |
35,182 |
| Analysis of deferred tax assets (before set - offs) |
|
| Intangible assets |
-3,188 |
-8,125 |
- |
- |
| Investments & other non-current receivables |
-3,611 |
-3,598 |
--3,031 |
-2,979 |
| Inventories |
-4,039
|
-4,213
|
-3,054
|
-2,615
|
| Post-employment and termination benefits |
-7,996
|
-10,133
|
-4,469
|
-4,602
|
| Receivables and prepayments |
-8,248 |
-8,364 |
-2,354 |
-1,584 |
| Tax losses carried forward (note 8) |
-80,833 |
-156,206 |
-4,490 |
-6,582 |
| Interest expense tax carried forward |
-2,057 |
-222 |
-2,006 |
-222 |
| Deferred income |
-866 |
-1,280 |
- |
- |
| Long-term debt/lease obligations |
-3,439 |
-7,070 |
- |
- |
| Government grants and other non current liabilities |
-1,070 |
-1,123 |
-1,070 |
-1,123 |
| Provisions and accrued expenses |
-15,392
|
-19,007
|
-3,251
|
-3,037
|
| Trade and other payables |
-14 |
-8 |
- |
- |
| Other |
-707 |
-262 |
- |
- |
| |
-131,460 |
-219,611 |
-23,725 |
-22,744 |
| Net deferred tax liability |
36,718 |
35,626 |
6,078 |
12,438 |
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority.