| (in millions of euros) | 2020 | 2019 |
|---|---|---|
| Deferred tax assets | Deferred tax assets 2020557 | Deferred tax assets 2019978 |
| Deferred tax liabilities | Deferred tax liabilities 2020(2,295) | Deferred tax liabilities 2019(1,987) |
| Net deferred taxes at 1 January | Net deferred taxes at 1 January2020(1,738) | Net deferred taxes at 1 January2019(1,009) |
| Change in net income | Change in net income 2020(198) | Change in net income 201928 |
| Change in equity | Change in equity 2020(215) | Change in equity 2019(402) |
| Translation adjustments | Translation adjustments 202072 | Translation adjustments 2019(66) |
| Changes in scope of consolidation* | Changes in scope of consolidation *202069 | Changes in scope of consolidation *2019(275) |
| Other movements | Other movements 202045 | Other movements 2019(14) |
| NET DEFERRED TAXES AT 31 DECEMBER | NET DEFERRED TAXES AT 31 DECEMBER2020(1,965) | NET DEFERRED TAXES AT 31 DECEMBER2019(1,738) |
| Deferred tax assets | Deferred tax assets 20201,150 | Deferred tax assets 2019557 |
| Deferred tax liabilities | Deferred tax liabilities 2020(3,115) | Deferred tax liabilities 2019(2,295) |
*Changes in the scope of consolidation essentially concern the reclassification of E&P concession assets as assets held for sale.
In 2020, €(238) million of the change in deferred tax assets included in equity results from actuarial gains and losses on post-employment benefits (€(69) million in 2019).
(in millions of euros) | 31/12/2020 | 31/12/2019 |
|---|---|---|
Deferred taxes: | Deferred taxes: 31/12/2020
| Deferred taxes: 31/12/2019
|
| Fixed assets | Fixed assets 31/12/2020 (6,194) | Fixed assets 31/12/2019 (6,141) |
| Provisions for employee benefits | Provisions for employee benefits 31/12/2020 5,222 | Provisions for employee benefits 31/12/2019 5,018 |
| Other provisions and impairment | Other provisions and impairment 31/12/2020 321 | Other provisions and impairment 31/12/2019 561 |
| Financial instruments | Financial instruments 31/12/2020 290 | Financial instruments 31/12/2019 74 |
| Tax loss carryforwards and unused tax credits | Tax loss carryforwards and unused tax credits 31/12/2020 1,172 | Tax loss carryforwards and unused tax credits 31/12/2019 1,292 |
| Other | Other 31/12/2020 711 | Other 31/12/2019 333 |
Total deferred tax assets and liabilities | Total deferred tax assets and liabilities 31/12/2020 1,523 | Total deferred tax assets and liabilities 31/12/2019 1,137 |
| Unrecognised deferred tax assets | Unrecognised deferred tax assets 31/12/2020 (3,489) | Unrecognised deferred tax assets 31/12/2019 (2,875) |
NET DEFERRED TAXES | NET DEFERRED TAXES 31/12/2020 (1,965) | NET DEFERRED TAXES 31/12/2019 (1,738) |
At 31 December 2020, unrecognised deferred tax assets represent a potential tax saving of €3,489 million (€2,875 million at 31 December 2019), mainly relating to France and the United States.
In France, this potential tax saving, which amounts to €2,900 million (€2,091 million at 31 December 2019), essentially concerns deferred tax assets on employee benefits. These deferred tax assets have no expiry date.
In the United States, this potential tax saving amounts to €428 million (€473 million in 2019) and relates mainly to negative taxable earnings generating losses which can be carried forward until dates between 2030 and 2037 (in the case of losses generated before 31 December 2017), or for an unlimited period (in the case of losses generated after that date).
Recognised deferred tax assets on tax loss carry forwards and unused tax credits amount to €584 million (€543 million in 2019) and principally concern the United States (€151 million in 2020, €197 million in 2019), United Kingdom (€173 million in 2020, €118 million in 2019), France (€52 million in 2020, €37 million in 2019)and in Germany (€47 million in 2020, €26 million in 2019). They have been recognised due to the existence of deferred tax liabilities on the same tax entities that will reverse over the same time horizon, or because there are prospects of taxable profits.
