Deferred tax assets and liabilities
17 Deferred tax assets and liabilities
Deferred tax assets and liabilities are as follows.
x € 1 million | Assets as at | Assets as at | Liabilities as at 31 December 2022 | Liabilities as at 31 December 2021 |
|---|---|---|---|---|
Property, plant and equipment | - | - | 355 | 359 |
Cash flow hedges | 5 | 18 | - | - |
Provisions | 1 | 1 | - | - |
Interest-bearing debt | - | - | - | - |
Total | 6 | 19 | 355 | 359 |
Deferred tax assets and liabilities relate mainly to property, plant and equipment and cash flow hedges accounted for in group equity.
Movements in deferred taxes during 2022 are as follows:
x € 1 million | Net balance as at 1 January 2022 | Recognised in profit or loss | Recognised in other comprehensive income | Net balance as at 31 December 2022 | Assets | Liabilities |
|---|---|---|---|---|---|---|
Property, plant and equipment | 359 | -4 | - | 355 | - | 355 |
Cash flow hedges | -18 | - | 13 | -5 | 5 | - |
Compensating losses | -1 | - | - | -1 | 1 | - |
Deferred income tax liabilities (assets) for netting | 340 | -4 | 13 | 349 | 6 | 355 |
Netting off | -6 | -6 | ||||
Total | - | 349 |
The deferred taxation relating to property, plant and equipment largely concerns the difference between the carrying amounts and tax bases of the networks. The deferred tax liability relating to property, plant and equipment was mainly caused by the difference between the carrying amounts and tax bases of the networks at the time of the introduction of corporate income tax for Stedin Group, accelerated depreciation for tax purposes applied in the past, the revaluation of the networks and the valuation of the acquired networks as part of the accounting for the acquisition of DNWG.
Movements in deferred taxes during 2021 are as follows:
x € 1 million | Net balance as at 1 January 2021 | Recognised in profit | Recognised in other comprehensive income | Net balance as at 31 December 2021 | Assets | Liabilities |
|---|---|---|---|---|---|---|
Property, plant and equipment | 297 | -5 | 67 | 359 | - | 359 |
Cash flow hedges | -26 | - | 8 | -18 | 18 | - |
Provisions | -1 | - | - | -1 | 1 | - |
Interest-bearing debt | 4 | -4 | - | - | - | - |
Deferred tax liabilities (assets) before netting | 274 | -9 | 75 | 340 | 19 | 359 |
Netting off | -19 | -19 | ||||
Total | - | 340 |
Expiration periods for deductible temporary differences as at 31 December 2022 are as follows:
Category | Period |
|---|---|
Property, plant and equipment | 1 - 55 years |
Intangible assets | 1 - 25 years |
Cash flow hedges | 1 - 30 years |
Provisions | 1 - 10 years |
