BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 12

OTHER NON-CURRENT ASSETS

December 31, 2019

Notes

December 31, 2018

(in thousand euros)

Guarantee deposits

4,431

4,391 

Deferred pensions

2,935

15,471 

Deferred compensation in the U.S. (other than pensions)

7,702

9,271

Other investments

28

33 

Other non-current assets

12,825

12,649 

TOTAL

27,921

41,781 

NOTE 13

DEFERRED TAX

Accounting policies Deferred tax is recognized on temporary differences between the carrying amount of assets and liabilities in the financial ● statements and the corresponding tax bases using the balance sheet liability method, and tax rates enacted or nearly enacted at the balance sheet date. Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized to the extent that ● it is probable that profits will be available against which deductible temporary differences can be utilized. Such assets and liabilities are not recognized if the temporary differences arise from goodwill or from the initial recognition (other ● than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. Deferred tax liabilities are recognized for taxable temporary differences arising from investments in subsidiaries and associates, and ● interests in joint ventures and branches, except when the date on which temporary differences will be reversed can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax is calculated at the tax rates that are expected to apply in the periods when the liability will be settled or the asset ● realized. Deferred tax is charged or credited to profit or loss in the period, except when it relates to a transaction or an event directly ● credited or charged to equity, in which case the deferred tax is also recognized in equity. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax ● liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Following the application of IFRIC 23 “Uncertainty over income tax treatments” as of January 1, 2019, uncertain tax positions ● relating to IAS 12 income taxes are recognized as deferred tax liabilities (respectively assets) if it is considered probable that the tax authorities will reject (accept) the position.

December 31, 2019

December 31, 2018

At January 1, 2019*

(in thousand euros)

Deferred tax assets

141,968

141,968

134,339 

Deferred tax liabilities

(41,735)

(74,515)

(55,374) 

NET POSITION

100,233

67,453

78,966 

* Opening balance sheet – First application of IFRIC 23 “Uncertainty over income tax treatments”.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •