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6B DEFERRED TAX CONTINUED
Movements n 2014 and 2013
 mllon
As at
1 January
2014
 mllon
Income
statement
 mllon
Other
 mllon
As at
31 December
2014
€ million
As at
1 January
2013
€ million
Income
statement
€ million
Other
€ million
As at
31 December
2013
Pensions and similar obligations 440 (36) 470 874 750 5 (315) 440
Provisions 672 (9) (6) 657 619 96 (43) 672
Goodwill and intangible assets (1,163) (1) (128) (1,292) (1,436) 221 52 (1,163)
Accelerated tax depreciation (697) (30) (26) (753) (623) (66) (8) (697)
Tax losses 147 3 (27) 123 134 12 1147
Fair value gains (17) 6 1 (10) (21) (3) 7(17)
Fair value losses (5) 5 10 10 12 (17) –(5)
Share-based payments 173 (2) 1 172 172 (8) 9173
Other 10 (24) (15) (29) 29 (3) (16) 10
(440) (88) 280 (248) (364) 237 (313) (440)
At the balance sheet date, the Group has unused tax losses of €2,664 million (2013: €2,066 million) and tax credits amounting to
€441 million (2013: €390 million) available for offset against future taxable profits. Deferred tax assets have not been recognised in
respect of unused tax losses of €2,371 million (2013: €1,641 million) and tax credits of €441 million (2013: €390 million), as it is not
probable that there will be future taxable profits within the entities against which the losses can be utilised. The majority of these tax
losses and credits arise in tax jurisdictions where they do not expire with the exception of €1,192 million (2013: €181 million) comprising
corporate income tax losses in the Netherlands which expire between now and 2023 and state and federal tax losses in the US which
expire between now and 2034.
Other deductible temporary differences of €67 million (2013: €72 million) have not been recognised as a deferred tax asset. There is
no expiry date for these differences.
At the balance sheet date, the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for
which deferred tax liabilities have not been recognised was €1,566 million (2013: €1,306 million). No liability has been recognised in
respect of these differences because the Group is in a position to control the timing of the reversal of the temporary differences, and
it is probable that such differences will not reverse in the foreseeable future.
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against
current tax liabilities and when the deferred income taxes relate to the same fiscal authority. The following amounts, determined
after appropriate offsetting, are shown in the consolidated balance sheet:
Deferred tax assets and labltes
 mllon
Assets
2014
€ million
Assets
2013
 mllon
Labltes
2014
€ million
Liabilities
2013
 mllon
Total
2014
€ million
Total
2013
Pensions and similar obligations 564 368 310 72 874 440
Provisions 515 532 142 140 657 672
Goodwill and intangible assets 127 58 (1,419) (1,221) (1,292) (1,163)
Accelerated tax depreciation (113) (176) (640) (521) (753) (697)
Tax losses 88 142 35 5 123 147
Fair value gains 14 10 (24) (28) (10) (18)
Fair value losses (8) (11) 18 7 10 (4)
Share-based payments 85 96 87 77 172 173
Other 14 65 (43) (55) (29) 10
1,286 1,084 (1,534) (1,524) (248) (440)
Of which deferred tax to be recovered/(settled) after
more than 12 months 1,037 896 (1,586) (1,563) (549) (667)
101Unilever Annual Report and Accounts 2014 Financial statements