Financial Statements 2021
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 2021
Other countries
31 December 2020
France Germany Spain
UK
(In € million)
NOL
372
3,224
338 1,417
2,934
8,285
7,625
3,530
3,263
Trade tax loss carry forwards
0
3,530
0
0
0
221
279
Tax credit carry forwards
0
0
216
0
5
2,519
2,283
Tax effect
96
1,010
300
354
759
(2,001)
(1,927)
Valuation allowances
(13)
(984)
(207)
(85)
(712)
Deferred tax assets on NOLs and tax credit carry forwards
83
26
93 269
47
518
356
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:
2021
2020
(In € million)
Net deferred tax assets at 1 January
3,572
4,610
(505)
(266)
Deferred tax expense in income statement
1,435
(893)
Deferred tax recognised directly in AOCI
(368)
358
Deferred tax on remeasurement of the net defined benefit pension plans
73
(237)
Others
Net deferred tax assets at 31 December
4,207
3,572
Details of deferred tax recognised cumulatively in equity are as follows:
2021
2020
(In € million)
Financial assets at fair value through OCI
(102)
(128)
1,323
(86)
Cash flow hedges
2,126
2,494
Deferred tax on remeasurement of the net defined benefit pension plans
2
Total
3,347
2,280
31
Airbus / Financial Statements 2021
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