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277
DZ BANK
2015 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
NOTES
Gains and losses on deconsolidation of subsidiaries largely consisted of losses from the deconsolidation of DZ FINANCE Ireland Limited. In 2014, gains and losses on deconsolidation of
subsidiaries had included gains from the deconsolidation of Nedship Scheepvaarthuis B.V.,
Rotterdam, Netherlands, of €6 million.
Further details of impairment losses on goodwill can be found in note 89.
Residual other net operating income includes rental income from investment property of
€9 million (2014: €9 million) and directly assignable expenses of €1 million (2014: €2 million).
» 46
INCOME TAXES
2015
2014
Current tax expense
-514
-412
Deferred tax expense
-143
-298
Total
-657
-710
€ million
he total for current taxes includes expenses of €14 million (2014: income of €65 million)
attributable to previous years. Deferred taxes include expenses of €89 million (2014: expenses
of €254 million) arising from the appearance and disappearance of temporary diferences.
Current taxes in relation to the German limited companies in the group are calculated using an
efective corporation tax rate of 15.825 percent based on a corporation tax rate of 15.0 percent
plus the solidarity surcharge. he tax rate applied in 2015 was unchanged from the rate used
in 2014. he efective rate for trade tax is 15.155 percent (2014: 15.085 percent) for DZ BANK
and subsidiaries that are members of the tax group.
Deferred taxes must be calculated using tax rates expected to apply when the tax asset or
liability arises. he tax rates used are therefore those that are valid or have been announced
for the periods in question as at the balance sheet date.
278
DZ BANK
2015 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
NOTES
he following table shows a reconciliation from expected income taxes to recognized income
taxes based on application of the current tax law in Germany:
€ million
2015
2014
Profit before taxes
2,453
2,867
Group income tax rate
30.980%
30.910%
Expected income taxes
-760
-886
103
176
7
17
Adjustments resulting from other types of income tax,
other trade tax multipliers, and changes in tax rates
39
35
Tax rate differences on income subject to taxation in other countries
11
4
Current and deferred taxes relating to prior years
23
148
Change in impairment losses on deferred tax assets
17
1
6
-29
-657
-710
Income tax effects
Impact of tax-exempt income and non-deductible expenses
Other effects
Recognized income taxes
» 47
he following amounts were reclassiied from other comprehensive income / loss to the
income statement in 2015:
ITEMS RECLASSIFIED
TO THE INCOME
STATEMENT
€ million
2015
2014
Gains and losses on available-for-sale financial assets
-116
1,309
Gains (+) / losses (-) arising during the reporting period
Gains (-) / losses (+) reclassified to the income statement
44
1,565
-160
-256
Gains and losses on cash flow hedges
14
-31
Gains (+) / losses (-) arising during the reporting period
-32
-31
Gains (-) / losses (+) reclassified to the income statement
46
–
Exchange differences on currency translation of foreign operations
45
12
Gains (+) / losses (-) arising during the reporting period
45
17
Gains (-) / losses (+) reclassified to the income statement
–
-5
Gains and losses on hedges of net investments in foreign operations
-24
-15
Gains (+) / losses (-) arising during the reporting period
-18
-21
Gains (-) / losses (+) reclassified to the income statement
-6
6
Share of other comprehensive income / loss of joint ventures and associates
accounted for using the equity method
17
24
Gains (+) / losses (-) arising during the reporting period
21
24
Gains (-) / losses (+) reclassified to the income statement
-4
–