Nokia 2015 Annual Report Download - page 154

152 NOKIA IN 2015
Amount of temporary dierences, tax losses carried forward and tax credits for which no deferred tax asset was recognized due to uncertainty
of utilization:
EURm 2015 2014
Temporary dierences 334 1 115
Tax losses carried forward 1 057 1 422
Tax credits 21 13
Total(1) 1 412 2 550
(1) The decrease from 2014 in temporary dierences and tax losses carried forward for which no deferred tax asset is recognized is due to the Sale of the HERE Business. 2014 comparative corrected to
include certain temporary dierences.
The recognition of the remaining deferred tax assets is supported by osetting deferred tax liabilities, earnings history and prot projections in
the relevant jurisdictions. Majority of recognized deferred tax assets relate to the Group’s Finnish tax losses, unused tax credits and temporary
dierences for which deferred tax was re-recognized in 2014, as the Group re-established a pattern of sucient tax protability in Finland to
utilize the cumulative losses, foreign tax credits and temporary dierences.
Expiry of tax losses carried forward and unused tax credits:
EURm
2015 2014
Recognized Unrecognized Total Recognized Unrecognized Total
Tax losses carried forward
Within 10 years 1 742 740 2 482 1 437 778 2 215
Thereafter 174 – 174 122 261 383
No expiry 280 317 597 232 383 615
Total 2 196 1 057 3 253 1 791 1 422 3 213
Tax credits
Within 10 years 434 14 448 536 13 549
Thereafter 42 – 42 33 – 33
No expiry – 7 7 – – –
Total 476 21 497 569 13 582
The Group has undistributed earnings of EUR769million (EUR732million in 2014) for which no deferred tax liability has been recognized as
these earnings will not be distributed in the foreseeable future.
Notes to consolidated nancial statements continued