2019 Universal registration document and annual financial report - BNP PARIBAS214
4 Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
Change in deferred tax by nature over the period:
In millions of euros 31 December
2018
Changes recognised in
profit or loss
Changes recognised in
equity that may be reclassified to profit or loss
Changes recognised
in equity that will not be
reclassified to profit or loss
Effects of exchange
rates, consolidation
scope and other
movements 31 December
2019
Financial instruments (518) (106) (391) (1) (25) (1,041)
Provisions for employee benefit obligations 826 80 - (14) (21) 871
Unrealised finance lease reserve (381) (82) - - (42) (505)
Credit risk impairment 3,111 172 - - (12) 3,271
Tax loss carryforwards 1,330 (39) - - (172) 1,119
Other items (338) (221) - - 337 (222)
NET DEFERRED TAXES 4,030 (196) (391) (15) 65 3,493
Deferred tax assets 5,262 - - - - 4,956
Deferred tax liabilities (1,232) - - - - (1,463)
In order to determine the amount of the tax loss carryforwards recognised as assets, the Group conducts every year a specific review for each relevant entity based on the applicable tax regime, notably incorporating any time limit rules, and a realistic projection of their future revenue and charges in line with their business plan.
Deferred tax assets recognised on tax loss carryforwards are mainly related to BNP Paribas Fortis for EUR 824 million, with a 6-year expected recovery period (unlimited carryforward period).
Unrecognised deferred tax assets totalled EUR 1,291 million at 31 December 2019 compared with EUR 1,324 million at 31 December 2018.
5.l ACCRUED INCOME/EXPENSE AND OTHER ASSETS/LIABILITIES
In millions of euros 31 December 2019 31 December 2018
Guarantee deposits and bank guarantees paid 75,478 64,988
Collection accounts 288 369
Accrued income and prepaid expenses(1) 6,162 7,355
Other debtors and miscellaneous assets(1) 31,607 30,634
TOTAL ACCRUED INCOME AND OTHER ASSETS 113,535 103,346
Guarantee deposits received 58,751 48,308
Collection accounts 3,026 2,820
Accrued expense and deferred income(1) 8,027 10,122
Lease liabilities(1) 3,295
Other creditors and miscellaneous liabilities(1) 29,650 28,312
TOTAL ACCRUED EXPENSE AND OTHER LIABILITIES 102,749 89,562
(1) Changes over the period include the effect of IFRS 16 first time adoption (see note 2).
