GROUPAMA / 2018 Registration document
7 FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS AND NOTES
NOTE 15
DEFERRED TAXES
Note 15.1
Deferred tax assets – by operating segment
31.12.2018
31.12.2017
France
International
Total
Total
(in millions of euros)
Deferredtax assets
22
17
39
36
TOTAL
22
17
39
36
Note 15.2
Deferred tax liabilities – by operating segment
31.12.2018
31.12.2017
France
International
Total
Total
(in millions of euros)
Deferredtax liabilities
65
2
67
141
TOTAL
65
2
67
141
Analysis of the major components of deferred taxes
Note 15.3
31.12.2018
31.12.2017
(in millions of euros)
Deferredtaxesresulting from timingdifferences Restatements onAFS& Trading financial instruments (net of deferred profit sharing)
(237)
(363)
Life acquisitioncostsandoverallmanagement expenses reserve
(36)
(52)
Consolidation restatements on technical reserves
(103)
(105)
Other differences on consolidation restatements
110
143
Deferrednon-lifeacquisitioncosts
(26)
(28)
Tax differences on technical reserves and othercontingent liabilities
330
334
Tax-deferred capitalgains
(2)
(2)
Valuationdifferenceon mutual funds
(6)
2
Foreignexchangehedge
7
8
Other temporary tax differences
(29)
1
Subtotal of deferred taxes resulting from timing differences
9
(61) (44)
Deferred taxes on ordinary losses
(37) (28)
Deferred taxes recorded in thebalance sheet
(105)
of which, assets
39
36
of which, liabilities
(67)
(141)
Unrecognised deferred taxes on net assets amounted to €11 million at 31 December 2018, compared with €21 million at 31 December 2017.
On the France scope, deferred taxes were determined by taking into account the gradual decline in the projectedcorporatetax rate to 25.82%by 2022.
238
REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES
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