PERNOD-RICARD - URD 2020-21

____ 6. CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Deferred taxes are broken down by nature as follows:

30.06.2020

30.06.2021

€ million

Margins in inventories

119

111

Fair value adjustments on assets and liabilities

28

13

Provision for pension benefits

100

78

Deferred tax assets related to losses eligible for carryforward

933

913

Provisions (other than provisions for pensions benefits) and other items

498

509

TOTAL DEFERRED TAX ASSETS

1,678

1,623

Accelerated tax depreciation

136

175

Fair value adjustments on assets and liabilities

2,313

2,469

Pension and other hedging assets

147

181

TOTAL DEFERRED TAX LIABILITIES

2,596

2,825

Tax loss carryforwards (recognised and unrecognised) represent potential tax savings of €1,154 million and €1,232 million at 30 June 2021 and 30 June 2020 respectively. The potential tax savings at 30 June 2021 and 30 June 2020 relate to tax loss carryforwards with the following expiry dates: FY20

Tax effect of loss carryforwards € million Losses recognised Losses not recognised

Year

2020

0

1

2021

0

1

2022

1

4

2023

1

3

2024 and after

790

192

No expiry date

140

97

TOTAL

933

299

FY21

Tax effect of loss carryforwards € million Losses recognised Losses not recognised

Year

2021

0

1

2022

0

2

2023

2

4

2024

2

2

2025 and after

727

189

No expiry date

182

43

TOTAL

913

241

Group income taxes payables are broken down as follows:

30.06.2020

30.06.2021

€ million

Other current tax liabilities

108

166

Uncertain tax positions

125

117

TOTAL CURRENT TAX LIABILITIES

232

282

200

PERNOD RICARD UNIVERSAL REGISTRATION DOCUMENT 2020-2021

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