Plastic Omnium - 2018 Registration Document

4 2018 CONSOLIDATED FINANCIAL STATEMENTS Consolidated financial statements at December 31, 2018 www.plasticomnium.com PLASTIC OMNIUM 2018 REGISTRATION DOCUMENT 186 Deferred taxes 5.1.11 As noted in Note 1.1.27 of the accounting rules and principles, deferred tax assets on tax loss carryforwards, temporary differences and tax credits are assessed according to their probability of future use. For this purpose, estimates were made as part of the closing of the accounts and led to the recognition of assets based on probable use within a relatively short period of time reflecting a prudent approach given the current economic environment. The Group applied IFRS 15 and IFRS 19 on January 1, 2018. The only impact on deferred taxes result from application of IFRS 15 and relate to the recognition of losses on contracts upon termination. The net impact at January 1, 2018 of €0.5 million in deferred tax assets. Deferred taxes are broken down as follows: In thousands of euros December 31, 2018 December 31, 2017 Property, plant and equipment (51,920) (49,370) Post-employment benefit obligations 26,098 28,596 Provisions for liabilities and charges 33,463 35,699 Financial instruments 612 43 Tax loss carryforwards and tax credits 122,937 139,011 Other (18,424) 2,867 Impairment of deferred tax assets (91,793) (81,158) TOTAL 20,973 75,688 Of which: Deferred tax assets ● 101,691 96,663 Deferred tax liabilities ● 80,718 20,975 Unrecognized tax assets in respect of tax losses in the December 31, 2018 amount to €85 million, against €76 million in the December 31, 2017 and have the following characteristics: In thousands of euros December 31, 2018 December 31, 2017 Evergreen tax loss carryforwards 69,301 63,640 Tax loss carryforwards available for more than 5 years 12,628 9,647 Tax loss carryforwards available for up to 5 years 846 1,823 Tax loss carryforwards available for up to 4 years 730 271 Tax loss carryforwards available for up to 3 years 535 81 Tax loss carryforwards available for less than 3 years 828 604 TOTAL 84,868 76,066 The change in the financial year is essentially due to variations in Brazil, Germany, Poland and Slovakia. Cash and cash equivalents 5.1.12 CASH AND CASH EQUIVALENTS 5.1.12.1 In thousands of euros December 31, 2018 December 31, 2017 Cash at bank and in hand 903,485 762,731 Short-term deposits 12,851 176,904 TOTAL CASH AND CASH EQUIVALENTS ON THE BALANCE SHEET 916,336 939,635