Annual report 2019

101

The following movements in deferred income tax assets and liabilities, including applicable income tax rate changes, together with the items they relate to, are recognized in the statement of other comprehensive income:

2019

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations, including net-investment hedges

22,428 - 7,753 - 7,822

1,135 - 531 1,852 2,456

23,563 - 8,284 - 5,970

Fair value of cash flow hedges

Actuarial gains / losses (-) and asset limitation on defined benefit pension plans

6,853

9,309

2018

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations, including net-investment hedges

32,119 - 20,589 - 3,867

-

32,119 - 16,658 - 3,906 11,555

Fair value of cash flow hedges

3,931

Actuarial gains / losses (-) and asset limitation on defined benefit pension plans

- 39

7,663

3,892

UNRECOGNIZED DEFERRED INCOME TAX ASSETS Unrecognized deferred income tax assets regarding income tax losses carried forward and/or timing differences of Group companies amounted to EUR 75.5 million (2018: EUR 77.8 million). These deferred income tax assets are not recognized in the statement of financial position as long as recovery through taxable profit or deductible temporary differences before expiration is not probable.

2019

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

No later than 1 year

-

- -

Later than 1 year and no later than 5 years

4,005

Later than 5 years

60,788 64,793

10,707 10,707

2018

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

No later than 1 year

-

- -

Later than 1 year and no later than 5 years

3,232

Later than 5 years

64,141 67,373

10,392 10,392

ANNUAL REPORT 2019 – BOSKALIS A 9 -- BOSKALIS