Boskalis Annual Report 2020

107 107

UNRECOGNIZED DEFERRED INCOME TAX ASSETS Income tax losses carried forward and/or timing differences of Group companies for which no deferred income tax asset is recognized amounted to EUR 216.0 million (2019: EUR 111.6 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. As the mix of countries in which projects are executed changes over time, uncertainty arises regarding the possibilities to compensate income tax losses with future taxable income.

2020

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

No later than 1 year

141

- -

Later than 1 year and no later than 5 years

8,730

Later than 5 years

196,588 205,459

10,584 10,584

2019

INCOME TAX LOSSES CARRIED FORWARD

DEDUCTIBLE TEMPORARY DIFFERENCES

No later than 1 year

964

- -

Later than 1 year and no later than 5 years

8,589

Later than 5 years

91,368 100,921

10,707 10,707

The movement in 2020 in income tax losses carried forward is to a large extent acquired through business combinations.

15. INTANGIBLE ASSETS

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2020 Cost

634,671 - 537,594

121,965 - 102,659

756,636 - 640,253 116,383

Accumulated amortization and impairments

Carrying amount

97,077

19,306

Movements Acquired through business combinations

73,069

-

73,069 - 3,503 - 5,582 - 7,594 56,390

Amortization

- -

- 3,503 - 5,582

Impairment charges (see note 10)

Currency translation differences and other movements

- 6,986 66,083

- 608

- 9,693

Balance as at 31 December 2020 Cost Accumulated amortization and impairments

676,773 - 513,613 163,160

119,124 - 109,511

795,897 - 623,124 172,773

Carrying amount

9,613

ANNUAL REPORT 2020 – BOSKALIS A NUAL REPORT 2020 -- BOSKALIS