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Note 16. Deferred tax
Movements in deferred tax in 2015
€ million 1 Jan. 2015 Income statement charge Tax charged/
credited to equity
Exchange
differences
Other changes 31 Dec. 2015
Deferred tax assets
Provisions 13.2 -0.7 -2.9 9.6
Defined benefit pension plans 0.3 -0.2 0.1
Tax loss carry-forwards 10.1 0.8 -2.6 8.3
Other temporary differences 18.0 9.9 -0.0 -1.2 -6.9 19.8
Total 41.5 9.8 -0.0 -3.8 -9.8 37.8
Deferred tax liabilities
Difference between accounting depreciation and tax depreciation 54.1 -4.5 49.6
Fair value allocation 11.3 -1.6 -0.4 9.3
Defined benefit pension plans 29.5 0.0 5.8 35.3
Other temporary differences 9.8 1.4 0.3 -0.5 11.0
Total 104.7 -4.7 6.1 -0.9 0.0 105.2
Net deferred tax liability 63.2 67.5
Balance sheet division of net deferred tax liability
€ million 2015 2014
Deferred tax assets 3.9 4.2
Deferred tax liabilities 71.4 67.4
Total 67.5 63.2
Other temporary differences within deferred tax assets include €4.3 million of deferred tax assets arising from compliance with the Group’s accounting principles and €7.4 million of deferred tax assets resulting from timing differences between local accounting principles and taxation.
Movements in deferred tax in 2014
€ million 1 Jan. 2014 Income statement charge Tax charged/
credited to equity
Exchange
differences
Other changes 31 Dec. 2014
Deferred tax assets
Provisions 10.3 2.9 13.2
Defined benefit pension plans 0.3 0.0 0.3
Tax loss carry-forwards 5.5 9.5 -4.7 -0.2 10.1
Other temporary differences 12.6 6.1 -0.2 -0.5 18.0
Total 28.7 18.6 -0.2 -5.2 -0.2 41.5
Deferred tax liabilities
Difference between accounting depreciation and tax depreciation 37.7 16.4 54.1
Fair value allocation 12.6 -0.7 -0.6 11.3
Defined benefit pension plans 34.0 0.4 -4.9 29.5
Other temporary differences 9.5 0.8 0.2 -0.6 0.0 9.8
Total 93.7 16.9 -4.7 -1.2 0.0 104.7
Net deferred tax liability 65.1 63.2
Tax loss carry-forwards
As at 31 December 2015, the Group’s unused tax losses carried forward were €219.2 million, for which deferred tax assets have not been recognised, because at the balance sheet date, the realisation of the related tax benefit through future taxable profits is not probable.
Tax losses carried forward for which tax assets have not been recognised expire as follows:
€ million 2016 2017 2018 2019 2020 2021− Total
0.7 7.8 7.0 4.4 3.9 195.4 219.2
Deferred tax liabilities have not been recognised for taxes that would be payable on subsidiaries’ undistributed earnings, because the subsidiaries’ distributions are at the discretion of the Group, and a distribution of profits with tax effect is not probable in the near future.