AIRBUS - 2020 Financial Statement
2. Notes to the IFRS Consolidated Financial Statements / 2.4 Airbus Performance
Deferred tax on net operating losses (“NOLs”), trade tax loss carry forwards and tax credit carry forwards are:
31 December 2020
31 December 2019
Other countries
France Germany Spain
UK
(In € million)
NOL
726
3,159
58 1,575
2,107
7,625
6,962
3,263
2,544
Trade tax loss carry forwards
0
3,263
0
0
0
279
299
Tax credit carry forwards
0
0
277
0
2
2,283
2,073
Tax effect
188
962
291
299
543
(1,927)
(1,588)
Valuation allowances
(112)
(878)
(263)
(170)
(504)
Deferred tax assets on NOLs and tax credit carry forwards
76
84
28 129
39
356
485
NOLs, capital losses and trade tax loss carry forwards are indefinitely usable under certain restrictions in France, Germany, the UK and Spain. They are usable for 20 years in Canada. In Spain, R&D tax credit carry forwards will expire after 18 years. Roll forward of deferred tax:
2020
2019
(In € million)
Net deferred tax assets at 1 January
4,610
3,516
(266)
514
Deferred tax expense in income statement
(893)
308
Deferred tax recognised directly in AOCI
358
442
Deferred tax on remeasurement of the net defined benefit pension plans
(237)
(170)
Others
Net deferred tax assets at 31 December
3,572
4,610
Details of deferred tax recognised cumulatively in equity are as follows:
2020
2019
(In € million)
Financial assets at fair value through OCI
(128)
(151)
(86)
830
Cash flow hedges
2,494
2,136
Deferred tax on remeasurement of the net defined benefit pension plans
Total
2,280
2,815
32
Airbus / Financial Statements 2020
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