NATIXIS -2020 Universal Registration Document
5 FINANCIAL DATA
Parent company financial statements and notes
Gains/(losses) on fixed assets Note 32
(in millions of euros)
2019 (a)
2020
Long-term investments Investments in associates and other long-term investments
(110)
1,199 1,164
Gains
11
Losses
(19)
(95) (54) 186
Impairment charges
(138)
36 (2)
Reversals of impairment charges Provisions for risks and other expenses
(2)
Reversals of provisions for risks and other expenses
1 0 0 0
0 0 0
Securities held for investment
Gains
Property, plant and equipment and intangible assets
59
TOTAL 1,258 Of which, at December 31, 2019, €1,100 million in net gains and losses in connection with the sale of the Specialized Financial Services division to BPCE. (a) (110)
Income tax Note 33
(in millions of euros)
2019
2020
(11)
(45)
Tax at standard rate Tax at reduced rate Tax credits
14
13
Impact of tax consolidation
217
229 (77)
Other items Carry Back TOTAL
(9)
211
121
Tax calculation The tax consolidation agreement at Natixis Group is based on the principle of neutrality, whereby each subsidiary determines its tax and contributes to the Group tax as if it were noct onsolidated. Any tax savings or expense generatedby consolidationis recognized by Natixis as the parent company.
Any losses transferred to the parent company give rise to a provision for restitutionof corporate tax, deemed to offset the additional group tax incurred if subsidiaries return to profit, and their tax contribution is decreased by the amount of prior year losses.
444
NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020
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