The tax effects of temporary differences, tax losses carried forward, and tax credits that result in a recognition of deferred tax assets and liabilities include the following items:
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|
Deferred tax assets |
|
Deferred tax liabilities |
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|
|
03/31/2017 |
|
03/31/2018 |
|
03/31/2017 |
|
03/31/2018 |
|
|
|
|
|
|
|
|
|
Non-current assets |
|
40.6 |
|
37.4 |
|
319.8 |
|
250.3 |
Current assets |
|
61.2 |
|
66.5 |
|
111.4 |
|
91.9 |
Non-current provisions and liabilities |
|
219.1 |
|
205.2 |
|
29.9 |
|
48.8 |
Current provisions and liabilities |
|
32.8 |
|
32.2 |
|
28.5 |
|
22.0 |
Losses carried forward |
|
219.6 |
|
154.8 |
|
0.0 |
|
0.0 |
|
|
573.3 |
|
496.1 |
|
489.6 |
|
413.0 |
|
|
|
|
|
|
|
|
|
Intercompany profit elimination (netted) |
|
23.7 |
|
28.1 |
|
0.0 |
|
0.0 |
Hidden reserves (netted) |
|
0.0 |
|
0.0 |
|
104.9 |
|
97.3 |
Acquisition-related tax credit |
|
72.3 |
|
54.2 |
|
0.0 |
|
0.0 |
Other |
|
21.8 |
|
20.4 |
|
2.3 |
|
0.0 |
Netting of deferred taxes to the same tax authority |
|
–477.4 |
|
–402.7 |
|
–477.4 |
|
–402.7 |
Net deferred taxes |
|
213.7 |
|
196.1 |
|
119.4 |
|
107.6 |
|
|
|
|
|
|
|
|
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In millions of euros |
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Pursuant to IAS 12.34, the tax benefit from the acquisition of BÖHLER-UDDEHOLM Aktiengesellschaft is reported as unused tax credit and will be released as a deferred tax expense over a period of 14 years with an amount of EUR 18.1 million per year (remaining term: three years). This is offset by actual tax savings.
Deferred tax assets on losses carried forward in the amount of EUR 154.8 million (March 31, 2017: EUR 219.6 million) were recognized. As of March 31, 2018, there is a total of unused tax losses of approximately EUR 303.3 million (corporate income tax) (March 31, 2017: approximately EUR 313.6 million), for which no deferred tax asset has been recognized. Up to 2028, approximately EUR 27.5 million in tax loss carryforwards (corporate income tax) will expire.
No deferred tax liabilities are shown for the taxable temporary differences due on investments in subsidiaries, joint ventures, and associates of EUR 2,315.0 million (March 31, 2017: EUR 2,504.8 million) because the parent company is able to control the timing of the reversal of the temporary differences and no reversal of the temporary differences is expected in the foreseeable future.
The change in the difference between deferred tax assets and liabilities amounts to EUR –5.8 million (March 31, 2017: EUR –26.0 million). This essentially corresponds to the deferred tax income of EUR 10.4 million (March 31, 2017: deferred tax expense of EUR –30.1 million), the change in deferred tax assets recognized in other comprehensive income in the amount of EUR –10.9 million (March 31, 2017: EUR 2.6 million), the change in deferred taxes due to differences from foreign currency translation in the amount of EUR –5.3 million (March 31, 2017: EUR 3.2 million), and the change in deferred taxes from initial consolidation and deconsolidation in the amount of EUR 0.0 million (March 31, 2017: EUR –1.6 million).
Additional disclosures pursuant to IAS 12.81 (ab):
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Change 2016/17 |
|
03/31/2017 |
|
Change 2017/18 |
|
03/31/2018 |
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|
|
|
|
|
|
|
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Deferred taxes on actuarial gains/losses |
|
5.0 |
|
157.6 |
|
–8.7 |
|
148.9 |
Deferred taxes on cash flow hedges |
|
–2.3 |
|
–0.6 |
|
–2.3 |
|
–2.9 |
Total of deferred taxes recognized in other comprehensive income |
|
2.7 |
|
157.0 |
|
–11.0 |
|
146.0 |
|
|
|
|
|
|
|
|
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In millions of euros |
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