Groupama // 2021 Universal Registration Document
7 FINANCIAL STATEMENTS Combined financial statements and notes
Deferred taxes Note 15
Deferred tax assets ‒ by operating segment
15.1
31.12.2021
31.12.2020
France
International
Total
Total
(in millions of euros)
Deferred tax assets
19
32
51
32
TOTAL
19
32
51
32
Deferred tax liabilities ‒ by operating segment 15.2
31.12.2021
31.12.2020
France
International
Total
Total
(in millions of euros)
Deferred tax liabilities
519
519
633
TOTAL
519
519
633
Analysis of the major components of deferred taxes 15.3
31.12.2021
31.12.2020
(in millions of euros)
Deferred taxes resulting from timing differences Restatements on AFS & Trading financial instruments (net of deferred profit sharing)
(592)
(835)
Life acquisition costs and overall management expenses reserve
(37)
(27)
Consolidation restatements on underwriting reserves
(281)
(307)
Other differences on consolidation restatements
66
53
Deferred non-life acquisition costs
(46)
(51)
Tax differences on underwriting reserves and other contingent liabilities
255
293
Tax-deferred capital gains
(4)
(5)
Valuation difference on mutual funds
129
123
Foreign exchange hedge
4
7
Other temporary tax differences
(14)
49
Subtotal of deferred taxes resulting from timing differences
(521)
(700)
Deferred taxes from stocks of ordinary losses
53
99
Deferred taxes recorded on the balance sheet
(468)
(602)
of which, assets
51
32
of which, liabilities
(519)
(633)
Within France, deferred taxation has been determined including the gradual reduction in corporation tax rates to 25.82% scheduled to occur by 2022.
202
Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES
Made with FlippingBook - professional solution for displaying marketing and sales documents online