AXWAY_REGISTRATION_DOCUMENT_2017

AXWAY GROUP AND ITS BUSINESS ACTIVITIES

CORPORATE RESPONSIBILITY

CORPORATE GOVERNANCE

CONSOLIDATED FINANCIAL STATEMENTS

2017 ANNUAL FINANCIAL STATEMENTS

CAPITAL AND AXWAY SOFTWARE STOCK

INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES

COMBINED GENERAL MEETING OFb6bJUNEb2018

Notes to the financial statements

NoteǾ6 Corporate income tax

6.1 Analysis table

2017

2016

2015

Current tax Deferred tax

-3,677 -20,344 -24,021

-3,495

-2,729 4,830 2,101

-250

Total

-3,745

6.2 Reconciliation between the theoretical and effective tax charge

2017 4,405

2016

2015

(in thousands of euros)

Net income Tax expense

31,477 -3,745

27,856

-24,021

2,101

Goodwill impairment Profit (loss) before tax Theoretical tax rate Theoretical tax expense Reconciliation Permanent differences

-

-

-

28,426 34.43% -9,787

35,222 34.43% -12,127

25,756 34.43% -8,868

3,515

-3,004

458

4

Impact of non-capitalized losses for the year Use of non-capitalized tax loss carry forwards

-22,205

-238

-546

314

646

321

Impact of research tax credits CVAE reclassification (net of tax)

3,676 -752

3,284 -812 6,619 2,893

3,241 -891 6,203 1,781

Capitalization of tax loss carry forwards from previous years

-

Tax rate differences – France/Other countries

1,548

Prior year tax adjustments

-

-

-

Other

-330

-1,006 -3,745 10.63%

402

Actual tax charge Effective tax rate

-24,021 84.50%

2,101

-8.16%

6.3 Tax impact of gains and losses recognized directly in other comprehensive income

2017

2016

2015

Impact ofbtaxes

Impact ofbtaxes

Impact ofbtaxes

Gross

Net

Gross

Net

Gross

Net

Foreign exchange differences on net investments of subsidiaries

-16,423 -14,882

- -16,423 - -14,882

1,565 4,994

-417

1,148

2,002

-927

1,075

Calculated by difference Foreign exchange gains andblosses Actuarial gains and losses onbpension plans

-

4,994 15,961

-

15,961

-31,306

- -31,306

6,559

-417

6,142 17,963

-927 17,036

1,241

-427

814

765

-249

516

1,803

-628

1,175

Change in the value of derivatives

0

-

0

46

-16

30

288

-23

265

Total

-30,065 -427 -30,492 7,371 -682 6,688 20,054 -1,578 18,476

135

AXWAY - 2017 REGISTRATION DOCUMENT