| Changes | |||||
|---|---|---|---|---|---|
| (in € millions) | 31/12/2024 | Profit or loss | Equity | Other | 31/12/2023 |
| Deferred tax assets | |||||
| Tax loss carryforwards | 851 | 22 | 0 | 13 | 817 |
| Temporary differences on retirement benefit obligations | 299 | 11 | (1) | 10 | 280 |
| Temporary differences on provisions | 1,432 | 122 | (18) | 6 | 1,323 |
| Temporary differences on financial instruments | 110 | 13 | 1 | (2) | 98 |
| Temporary differences related to leases | 444 | 35 | 2 | 7 | 400 |
| Other temporary differences | 1,305 | 141 | 19 | (19) | 1,164 |
| Netting of deferred tax assets and liabilities by tax group | (2,514) | - | - | (206) | (2,307) |
| Total deferred tax assets before impairment | 1,928 | 344 | 4 | (192) | 1,772 |
| Impairment | (660) | (22) | 1 | 12 | (651) |
| Total deferred tax assets after impairment | 1,268 | 322 | 5 | (180) | 1,122 |
| Deferred tax liabilities | |||||
| Remeasurement of assets(*) | (6,137) | 48 | (9) | (1,106) | (5,070) |
| Temporary differences related to leases | (382) | (29) | (1) | (6) | (346) |
| Temporary differences on financial instruments | (117) | 2 | (6) | (2) | (111) |
| Other temporary differences | (869) | (15) | 3 | (46) | (811) |
| Netting of deferred tax assets and liabilities by tax group | 2,514 | - | - | 206 | 2,307 |
| Total deferred tax liabilities | (4,991) | 6 | (12) | (954) | (4,030) |
| Net deferred tax | (3,723) | 327 | (7) | (1,135) | (2,908) |
Impairment of deferred tax assets amounted to €660 million at 31 December 2024 (€651 million at 31 December 2023), including €621 million outside France (€603 million at 31 December 2023).
Deferred tax assets arising from tax loss carryforwards totalled €851 million at 31 December 2024, with impairment losses recognised in the amount of €502 million. The net balance of deferred tax assets arising from tax loss carryforwards thus comes to €350 million, compared with €341 million at 31 December 2023, mainly related to countries in which tax losses can generally be carried forward indefinitely, such as the United Kingdom, Germany, Peru, Brazil, Chile, Canada and the United States.
Accounting policies
Basic earnings per share is the net income for the period after non-controlling interests, divided by the weighted average number of shares outstanding during the period less the weighted average number of treasury shares.
In calculating diluted earnings per share, the weighted average number of existing shares is adjusted for the potentially dilutive effect of all equity instruments issued by the company, in particular Group savings plans and unvested performance shares. Dilution is determined in accordance with the rules laid down by IAS 33. In accordance with this standard, plans for which the stock market price is greater than the average price during the period are excluded from the diluted earnings per share calculation.
In calculating basic and diluted earnings per share, earnings are also adjusted as necessary for changes in income and expenses taken directly to equity resulting from the conversion into shares of all potentially dilutive instruments.
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Average number of shares | Net income (in € millions) | Earnings per share (in €) | Average number of shares | Net income (in € millions) | Earnings per share (in €) | |
| Total shares | 589,515,310 | 594,320,558 | ||||
| Treasury shares | (19,373,132) | (26,112,537) | ||||
| Basic earnings per share | 570,142,178 | 4,863 | 8.53 | 568,208,021 | 4,702 | 8.28 |
| Group savings plan | 239,647 | 693,509 | ||||
| Performance shares | 6,174,149 | 6,210,366 | ||||
| Diluted earnings per share | 576,555,974 | 4,863 |
8.43 |
575,111,896 | 4,702 |
8.18 |
Excluding the impact of France’s new tax on long-distance transport infrastructure operators, net income attributable to owners of the parent would have been €5,147 million and diluted earnings per share would have amounted to €8.93.
