Temporary differences arise from the following positions:
IN MILLIONS OF USD |
DEC 31, 2017 | DEC 31, 2016 | ||||||
| DEFERRED TAX ASSETS | ||||||||
| Property, plant and equipment | 4.0 | 47.4 | ||||||
| Intangible assets | 19.8 | 60.1 | ||||||
| Provisions and other payables | 11.7 | 30.8 | ||||||
| Tax loss carry-forward | 51.5 | 57.5 | ||||||
| Other | 15.5 | 12.0 | ||||||
| Total | 102.5 | 207.8 | ||||||
| DEFERRED TAX LIABILITIES | ||||||||
| Property, plant and equipment | (0.5 | ) | (50.4 | ) | ||||
| Intangible assets | (59.8 | ) | (68.3 | ) | ||||
| Provisions and other payables | – | (0.8 | ) | |||||
| Other | (2.0 | ) | (7.1 | ) | ||||
| Total | (62.3 | ) | (126.6 | ) | ||||
| Deferred tax assets, net | 40.2 | 81.2 | ||||||
Deferred tax balances are presented in the consolidated statement of financial position as follows:
IN MILLIONS OF USD |
DEC 31, 2017 | DEC 31, 2016 | ||||||
| Deferred tax assets | 90.3 | 153.0 | ||||||
| Deferred tax liabilities | (50.1 | ) | (71.8 | ) | ||||
| Balance at December 31 | 40.2 | 81.2 | ||||||
Reconciliation of movements to the deferred taxes:
IN MILLIONS OF USD |
DEC 31, 2017 | DEC 31, 2016 | ||||||
| Changes in deferred tax assets | (62.7 | ) | 6.5 | |||||
| Changes in deferred tax liabilities | 21.7 | 36.8 | ||||||
| Currency translation adjustments | 6.4 | (0.1 | ) | |||||
| Deferred tax income (expense) at December 31 | (34.6 | ) | 43.2 | |||||
| THEREOF | ||||||||
| Recognized in the statement of comprehensive income | (34.4 | ) | 42.7 | |||||
| Recognized in equity | (0.2 | ) | 0.5 | |||||
Tax loss carry-forwards
The unrecognized tax loss carry-forwards by expiry date are as follows:
IN MILLIONS OF USD |
DEC 31, 2017 | DEC 31, 2016 | DEC 31, 2015 | |||||||||
| Expiring within 1 to 3 years | 4.4 | – | – | |||||||||
| Expiring within 4 to 7 years | 0.8 | – | – | |||||||||
| Expiring after 7 years | 39.8 | 31.9 | 21.3 | |||||||||
| Total 1 | 45.0 | 31.9 | 21.3 | |||||||||
| 1 | This amount includes USD 21.3 million added through business combination in 2015 |