AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS 6 Notes to the consolidated financial statements

NOTE 18 Equity-accounted companies

❙ Impact

31/12/2019

31/12/2018

In thousands of euros

Balance sheet

Income -5,884 4,300 -1,584

Balance sheet

Income

SIC

37,138

43,903

-693

Socredo

109,616 146,753

106,202 150,105

5,208 4,515

TOTAL

NOTE 19 Corporate income tax

31/12/2019

31/12/2018

In thousands of euros

Corporate tax

-18,350 -10,438

-13,227 -16,970

Taxes due

Deferred tax

-7,913

3,743

❙ Underlying tax position

31/12/2019

31/12/2018

In thousands of euros

Net income

182,118 -18,350 200,468 -82,775 64,425 -18,350

137,600 -13,227 150,827 -82,738 69,511 -13,227

Corporate tax Pre-tax income

Total theoretical tax expense 32.02% (A)

Total matching items (B)

Net recorded tax expense (A) + b (B)

Deferred taxes have been estimated on the basis of the following assumptions: P deferred taxes based on impairments were estimated on the basis of the following rates: 28.92% for stage Ǿ 1 (rate in force in 2020) and 25.82% for stage Ǿ 2 (rate in force from 2021); P deferred taxes based on the unrealised gains or losses on loans, investments and convertible bonds were estimated on the basis of the rate of 28.92%.

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UNIVERSAL REGISTRATION DOCUMENT 2019

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