Boskalis Annual Report 2018

98 ANNUAL REPORT 2018 – BOSKALIS FINANCIAL STATEMENTS 2018 ANNUAL REPORT 2018 -- BOSKALIS FINANCIAL STATEMENTS 2018 98 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

Deferred income tax assets are not recognized as long as it is not probable that economic benefits can be expected in future periods. Deferred income tax assets and liabilities within fiscal unities are offset in the statement of financial position. 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: 2018

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations

32,119 - 20,589 - 3,867

-

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

3,931

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

- 39

7,663

3,892

2017

INCOME TAX (EXPENSE) BENEFIT

NET OF INCOME TAX

BEFORE INCOME TAX

Foreign currency translation differences for foreign operations

- 139,204

-

- 139,204

12,628 - 9,272

- 3,257 1,504

9,371 - 7,768

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

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

- 357

-

- 357

- 136,205

- 1,753

- 137,958

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 119.7 million (2017: EUR 310.2 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.

2018

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

DISPOSAL GROUP

-

- -

- - - -

Later than 1 year and no later than 5 years

3,232

106,038 109,270

10,392 10,392

2017

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

DISPOSAL GROUP

-

203,693

- - - -

Later than 1 year and no later than 5 years

4,813

-

91,761 96,574

9,979

213,672