64 / 140
On the basis of the timing estimate of future profits made by the Parent’s directors for the
offset and use of these tax items, only EUR 23,472 thousand were considered to be
recoverable in the tax return for the coming year, EUR 1,532 thousand of which relate to
deferred taxes, EUR 2,987 thousand to unused tax credits and tax relief and EUR 18,953
thousand to tax loss carryforwards.
e) Deferred tax assets and liabilities recognised
The difference between the tax charge allocated to the current year and to prior years and
the tax charge already paid or payable for such years, which is recognised under deferred
tax assets, arose as a result of temporary differences derived from the following items:
CHANGES IN DEFERRED
TAX ASSETS
Thousands of euros
2014
Additions Disposals Other
Effect of
change in
tax rate
2015
Contingencies and charges
14,006
2,917
(2,653)
(767)
(989)
12,514
Accounts payable
717
129
(352)
(212)
(58)
224
Hedging instruments
(777)
-
(198)
-
21
(954)
Tax effect of assets at fair value
530
-
(544)
(201)
607
392
Other
6,656
-
(1,938)
(611)
831
4,938
Total
21,132
3,046 (5,685) (1,791)
412
17,114
The detail for 2014 is as follows:
CHANGES IN DEFERRED
TAX ASSETS
Thousands of euros
2013 Transfers Additions Disposals Other
Effect of
change in
tax rate
2014
Contingencies and charges
12,389
203
6,221 (3,323)
77
(1,561)
14,006
Accounts payable
607
181
300
(795)
568
(144)
717
Hedging instruments
(361)
-
(571)
-
-
155
(777)
Tax effect of assets at fair value
2,541
-
- (1,287)
-
(724)
530
Other
5,280
(384)
3,097
(212)
627
(1,752)
6,656
Total
20,456
-
9,047 (5,617)
1,272 (4,026) 21,132
The changes in deferred tax assets, included in the “Other” column, include most notably the
difference between the projected income tax expense for 2014 and the tax return actually
filed.
At 31 December 2015 the Group had unused tax credits amounting to EUR 112,349
thousand, of which EUR 2,148 relate to La Sexta. Of the total unused tax credits, the Group
has recognised EUR 103,363 thousand.
Amount
Limit
15,136
2025
26,166
2026
18,971
2027
12,955
2028
23,679
2029
15,442
2030
112,349
In 2014 the Group acquired ownership interests of 40% and 14% in the Enelmar
Productions
economic interest grouping (EIG) and Producciones Ramsés economic interest grouping
(EIG), respectively.