Aéroport de Paris - 2018 Registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 20

NOTE 10 OTHER OPERATING INCOME AND EXPENSES

As a reminder, following the disposal of 80% of the subsidiary Hub Safe on 29 September 2017, the Group recognized a gain of €27 million in 2017, net of selling costs before corporate income tax. The investment is since then accounted under equity method.

Other operating income and expenses are significant and non-recurrent items at the level of the Group’s consolidated performance. This may involve the disposal of assets or activities, costs incurred related to a business combination, restructuring costs or costs related to a one- off operation.

NOTE 11 INCOME TAX

Investissements SAS, ADP Invest, ADP Immobilier Tertiaire, and Hôtels Aéroportuaires. Deferred taxes are recognized for all temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, except for the cases specified in IAS 12, Income Taxes. Deferred taxes are calculated using the liability method, applying the last enacted income tax rates expected to be applicable when the temporary differences will be reversed. They are not discounted. Deferred tax assets are recognized, when applicable, in respect of tax loss carryforward and unused tax credits. Generally speaking, deferred tax assets are not recognized except when it is probable that the taxable entity in question will have sufficient future taxable income against which the deductible temporary differences, tax loss carryforward or tax credits can be offset. Non-recognized deferred tax assets are revalue at the end of each accounting period and are recognized to the extent that it has become probable that a future profit will allow them to be recovered. Income tax is recognized in the income statement unless it concerns items recognized directly in equity; in such cases it is recognized directly or as part of other elements of the comprehensive income statement.

The income tax covers domestic and foreign taxes which are based on taxable profits and taxes payable on dividends distributed by subsidiaries and associates and joint ventures. Groupe ADP considers that the Company value-added contribution (Cotisation sur la Valeur Ajoutée des Entreprises – CVAE) cannot be analyzed as an income tax. Therefore, this contribution is recorded in operating expenses. Income taxes include: Current tax is the amount of income tax due to or receivable from the tax authorities with regard to taxable income or tax loss from a given financial year. Such amounts are recognized respectively in current liabilities or current assets in the balance sheet. Income taxes are calculated for each entity or taxable unit. The tax consolidation Group encompassing the parent company Aéroports de Paris SA and thirteen French subsidiaries held, in which the parent company, directly or indirectly, holds over 95%: ADP Immobilier, ADP Immobilier Industriel, Hub One, Hub One Mobility, ADP Ingénierie, ADP International, Cœur d’Orly Commerces Investissements SAS, Cœur d’Orly 11.1 Tax rate The current tax rate used as at 31 December 2018 amounts to 34.43%. 11.2 Analysis of the income tax expense Within the income statement, the income tax expense is detailed as follows: ¯ current tax expense or profit; and ¯ deffered tax expense or profit.

2018 (351)

2017

(in millions of euros)

Current tax expense Deferred tax expense INCOME TAX EXPENSE

(267)

16

7

(335)

(260)

These amounts do not include income tax on profit/loss associates and joint ventures, the amounts that appear for these items on the appropriate line of the income statement being net of income tax.

236

AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018