NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Consolidated financial statements

Deferred tax assets and liabilities 12-4 Deferred tax assets and liabilities are mainly due to the following:

Changes recognized in the income statement

Changes recognized through equity

Foreign exchange differences

31 January 2017

Reclassi- fications

Scope variation

31 January 2018

Tax loss carry-forward

24.4

-

-

(22.0)

(1.1)

(0.3)

1.0

Pension provision

6.2

-

0.4

(0.4)

-

(0.1)

6.1

Expenses with deferred deductibility: inventories and bad debt • employees related provisions

7.4

-

-

(2.4)

-

(0.7)

4.3

• • • •

3.0

-

-

(0.8)

-

(0.2)

2.0

deferred income

10.4

-

-

(1.6)

-

(1.1)

7.7

fxed assets amortization

51.7

-

-

(18.8)

-

(5.4)

27.5

other expenses with deferred

3.8

-

-

(1.0)

(0.0)

(0.4)

2.4

deductibility

Patents

3.3

-

-

-

-

-

3.3

Restructuring provisions

1.5

-

-

(1.0)

-

(0.1)

0.4

Other

2.8

-

(1.1)

(1.5)

(0.3)

0.1

0.0

Deferred tax assets before tax  consolidation

114.5

-

(0.7)

(49.5)

(1.4)

(8.2)

54.7

Tax consolidation

(97.2)

47.1

-

-

-

-

(50.1)

DEFERRED TAX ASSETS

17.3

47.1 (0.7)

(49.5)

(1.4)

(8.2)

4.6

At 31 January 2018, the recognition of deferred tax assets was reviewed. The tax loss carry forwards recognized as deferred tax assets have been depreciated when it is deemed unlikely that the Group will be able to use these in the five next years. There is no significant non-activated tax loss as at 31 January 2018.

Changes recognized in the income statement

Changes recognized through equity

Foreign exchange difference

31 January 2017

Reclassi- fications

Scope variation

31 January 2018

Eliminations on margin on inventories, rented and demo equipment

(6.2)

-

-

1.3

-

0.3

(4.6)

Capitalization of research and development expenses

23.5

-

-

0.8

-

(1.6)

22.7

Amortization of intangible assets recognized after purchase price allocation

19.0

-

-

(3.1)

-

(1.9)

14.0

Leasing activities

179.4

-

-

(54.4)

-

(19.8)

105.2

Amortization restatements

10.9

-

-

0.2

-

(0.2)

10.9

Goodwill amortization

44.0

-

-

(7.7)

-

(4.8)

31.5

Pension

10.4

-

2.1

0.2

-

(0.2)

12.5

Provisions with deferred deductibility

4.7

-

-

(0.4)

-

(0.4)

3.9

Other

8.9

-

1.1

(0.3)

-

(0.1)

9.6

Deferred tax liabilities before tax  consolidation

294.6

-

3.2 (63.4)

-

(28.7)

205.7

Tax consolidation

(97.2)

47.1

-

-

-

-

(50.1)

DEFERRED TAX LIABILITIES

197.4

47.1

3.2 (63.4)

-

(28.7)

155.6

NET DEFERRED TAX

(180.1)

-

(3.9)

13.9 (1.4)

20.5 (151.0)

158

REGISTRATION DOCUMENT 2017 / NEOPOST