Ubisoft 2014 Annual Report Download - page 182
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Financial statements
2014
177
At March 31, 2014, the amounts hedged giving rise to forward purchases and sales of foreign
currencies amounted to €210,206 thousand (see Note 3.6.2 Off-balance sheet commitments).
Note 23. Non-recurring items
Article 14 of the Decree of November 29, 1983, defines non-recurring items as those that are not
related to the normal operations of a company.
03/31/14
03/31/13
Non-recurring income
Non-recurring income from capital transactions
18,370
6,944
Non-recurring reversals
208,926
158,919
Non-recurring expenses
Non-recurring expenses on management transactions
-
13
Non-recurring expenses on capital transactions
13,985
125
Non-recurring provisions
278,512
233,833
Non-recurring items
(65,201)
(68,108)
At March 31, 2014, non-recurring items mainly comprised:
- A gain on disposal of Gameloft SA shares for €3,961 thousand,
- €278,292 thousand in allocations for accelerated tax depreciation on development expenditure for
software,
- €208,926 thousand in reversals for accelerated tax depreciation on development expenditure for
software.
Note 24. Income tax
At March 31, 2014, the tax group incorporates Ubisoft Entertainment SA (holding company) and all
subsidiaries whose registered office is in France, with the exception of those created or acquired
during the fiscal year.
Any tax savings arising from the use of losses at the tax group’s member companies will only be
temporary, since the company in question may use them at any time for its own purposes.
On a standalone basis (disregarding the tax consolidation group), Ubisoft Entertainment SA’s figures
were as follows:
03/31/14
03/31/13
Net income before tax from
continuing operations
(122,261)
36,644
Non-recurring items
(65,201)
(68,108)
Net income before tax
(187,462)
(33,464)
Income tax (credit)
(3,342)
(3,002)
Net accounting income
(184,120)
(30,462)
Taxable income
(183,503)
(46,248)
Net income
before tax
Theoretical
Net income
tax (tax credit)
Due
Current
(122,261)
(43,388)
0
(122,261)
Non-recurring
(65,201)
(26,344)
0
(65,201)
Tax consolidation
3,342
3,342
TOTAL
(187,462)
(69,731)
3,342
(184,120)