Areva - Reference Document 2016

20

20.2 Notes to the consolidated financial statements for the year ended December 31, 2016 FINANCIAL INFORMATION CONCERNING ASSETS, FINANCIAL POSITION AND FINANCIAL PERFORMANCE

DEFERRED TAX ASSETS AND LIABILITIES

Continuing operations

(in millions of euros)

December 31, 2016 December 31, 2015

Deferred tax assets Deferred tax liabilities

1

212 100 113

NET DEFERRED TAX ASSETS AND LIABILITIES

1

Operations held for sale

December 31, 2016

(in millions of euros)

New NP

NewCo

Other

Total

Deferred tax assets Deferred tax liabilities

231

168 113

58

456 116 340

3

-

NET DEFERRED TAX ASSETS AND LIABILITIES

228

55

58

In theUnitedStates, deferred tax assetswere valued for two separate tax consolidation groups, AREVA Inc. and AREVA Nuclear Materials LLC, pursuant to IAS 12. The deferred tax assets were valued based on future income prospects. These future taxable profits, less deferred losses resulting fromcauses identified as non-recurring, were assessed as regards budget forecasts validated bymanagement. The valuation

of AREVA Inc.’s deferred tax assets is conditioned on the effective implementation of a legal structuring plan drawn up in connection with the sale of New NP to EDF. For 2016, the value of deferred tax assets amounted to 213 million euros for the consolidated AREVA Inc. group, including 9 million euros for AREVA Solar, and to 124 million euros for the consolidated AREVA Nuclear Materials LLC group.

MAIN CATEGORIES OF DEFERRED TAX ASSETS AND LIABILITIES

Continuing operations

(in millions of euros)

December 31, 2016 December 31, 2015

Tax impact of temporary differences related to: Property, plant and equipment, intangible assets and non-current financial assets

0 0 1

(106) (173)

Working capital assets

Employee benefits

170

Provisions for restructuring

0

Tax-driven provisions

(124)

Provisions for end-of-lifecycle operations

30 93

Impact of loss carry-forwards and deferred taxes

0 0 1

Other temporary differences

222 113

NET DEFERRED TAX ASSETS AND LIABILITIES

207

2016 AREVA REFERENCE DOCUMENT