249
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 6. Income taxes
6.4.
Effective tax rate
(in millions of euros, except %)
Year ended December 31,
2013
2012
Earnings (before non-controlling interests)
2,779
964
Elimination:
Income from equity affiliates
33
38
Earnings from discontinued operations
(4,635)
(1,505)
Provision for income taxes
417
604
Earnings from continuing operations before provision for income taxes
(1,406)
101
French statutory tax rate
38.00%
36.10%
Theoretical provision for income taxes based on French statutory tax rate
534
(36)
Reconciliation of the theoretical and effective provision for income taxes
Permanent differences
(117)
(152)
of which other differences from tax rates
9
(3)
impacts of the changes in tax rates
41
1
Changes in deferred tax assets related to Vivendi SA’s French Tax Group System
and to the Consolidated Global Profit Tax System
(161)
(48)
Other tax losses and tax credits
(211)
228
of which use of current losses of the period
-
4
use of unrecognized losses and tax credits
-
262
unrecognized losses
(211)
(38)
Other temporary differences
317
(341)
of which reserve accrual regarding the Liberty Media Corporation litigation in the United States
341
(341)
Adjustments to prior year’s tax expense
124
(9)
of which consideration of risks related to previous years’ income taxes
139
(22)
Capital gain or loss on the divestiture of or downside adjustments on financial
investments or businesses
(926)
(313)
of which impairment of SFR goodwill
(924)
-
impairment of Canal+ France goodwill
-
(240)
impairment of Canal+ Group’s N-Vision equity affiliate
-
(43)
Other
23
67
Effective provision for income taxes
(417)
(604)
Effective tax rate
-29.7%
598.0%
