Boskalis_Annual Report_2017

94 ANNUAL REPORT 2017 – BOSKALIS FINANCIAL STATEMENTS 2017 ANNUAL REPORT 2017 -- BOSKALIS FINANCIAL STATEMENTS 2017 94 Fair value of cash flow hedges Fair value of cash flow hedges No later than 1 year Later than 5 years No later than 1 year Later than 5 years

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: 2017

INCOME TAX (EXPENSE) BENEFIT

NET OF INCOME TAX

BEFORE INCOME TAX

- 139,204

-

- 139,204

Foreign currency translation differences for foreign operations

12,628 - 9,272

- 3,257

9,371

1,504

- 7,768

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

- 357

-

- 357

Movement in fair value of investment in Fugro N.V.

- 136,205

- 1,753 - 137,958

2016

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations

24,776 13,336 - 10,722

-

24,776 11,302 - 9,642

- 2,034 1,080

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

Movement in fair value of investment in Fugro N.V.

357

-

357

27,747

- 954

26,793

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 310.2 million (2016: EUR 251.6 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.

2017

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

DISPOSAL GROUP

-

203,693

- - - -

4,813

-

Later than 1 year and no later than 5 years

91,761 96,574

9,979

213,672

2016

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

DISPOSAL GROUP

-

-

- - - -

Later than 1 year and no later than 5 years

1,409

140,731

102,578 103,987

6,863

147,594