NATIXIS - Universal registration document and financial report 2019

5 FINANCIAL DATA

Parent company financial statements and notes

Gains/(losses) on fixed assets Note 32

(in millions of euros)

2018

2019 (a)

Long-term investments Investments in associates and other long-term investments

1,199 1,164

28

Gains

157

Losses

(95) (54) 186

(4)

Impairment charges

(172)

Reversals of impairment charges Provisions for risks and other expenses

48 (3)

(2)

Reversals of provisions for risks and other expenses

0 0 0

2 1 1 4

Securities held for investment

Gains

Property, plant and equipment and intangible assets

59

TOTAL 33 Of which, at 31 December 2019, €1,100 million in net gains and losses in connection with the sale of the Specialised Financial Services division to BPCE. (a) 1,258

Income taxes Note 33

(in millions of euros)

2018

2019

Tax at standard rate Tax at reduced rate Tax credits

(45)

(68)

13

3

Impact of tax consolidation

229 (77)

219 115

Other items Carry Back TOTAL

121

269

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 not consolidated. Any tax savings or expense generated by consolidation is recognized by Natixis as the parent company. Any losses transferred to the parent company give rise to a provision for restitution of 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.

Tax audits Natixis SA was subject to an audit covering the 2008 to 2013 fiscal years. Final notice was received by Natixis during the 2018 fiscal year and the accounting impacts were factored into the accounts at December 31, 2018. Natixis’ subsidiary in Germany was subject to a tax audit covering fiscal years 2009 to 2014. Final notice was received by Natixis during the 2019 fiscal year and the accounting impacts were factored into the accounts at December 31, 2019.

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019