Reebok 2015 Annual Report Download - page 242

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4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Income Statement
Gross Group deferred tax assets and liabilities after valuation allowances, but before appropriate offsettings,
are attributable to the items detailed in the table below:
DEFERREDTAXES
€ in millions Dec. 31, 2015 Dec. 31, 2014
Non-current assets 216 183
Current assets 183 197
Accrued liabilities and provisions 276 250
Accumulated tax loss carry-forwards 56 92
Deferred tax assets 731 722
Non-current assets 348 363
Current assets 80 102
Accrued liabilities and provisions 34 69
Deferred tax liabilities 462 534
Deferred tax assets, net 269 186
Deferred tax assets are recognised only to the extent that the realisation of the related benefit is probable.
For the assessment of probability, in addition to past performance and the respective prospects for the
foreseeable future, appropriate tax structuring measures are also taken into consideration.
Deferred tax assets for which the realisation of the related tax benefits is not probable increased from
€ 524 million to € 653 million for the year ending December 31, 2015. These amounts mainly relate to tax
losses carried forward and unused foreign tax credits of the US tax group, which begin to expire in 2026.
The remaining unrecognised deferred tax assets relate to subsidiaries operating in markets where the
realisation of the related tax benefit is not considered probable.
The Group does not recognise deferred tax liabilities for unremitted earnings of non-German subsidiaries
to the extent that they are expected to be permanently invested in international operations. These earnings,
the amount of which cannot be practicably computed, could become subject to additional tax if they were
remitted as dividends or if the Group were to sell its shareholdings in the subsidiaries.
Tax expenses
Tax expenses are split as follows:
INCOME TAX EXPENSES
€ in millions Year ending
Dec. 31, 2015
Year ending
Dec. 31, 2014
Current tax expenses 439 315
Deferred tax income (86) (43)
Income tax expenses 353 271
The deferred tax income includes tax income of € 111 million in total (2014: € 24 million) related to the
origination and reversal of temporary differences.