Hexagon Annual Report 2019

BALANCE SHEET CHANGE IN DEFERRED TAX IN INCOME STATEMENT (NOK 1 000) 2019 2018 2019 2018 DEFERRED TAX ASSET Pension -487 -115 -372 482 Loss carryforwards -64 210 -49 744 -14 466 -24 938 Property, plant & equipment -1 434 -1 434 Inventories and trade receivables -12 134 -2 268 -9 866 231 Derivatives -54 -945 891 306 Provisions for liabilities/other current liabilities -26 480 -10 838 -15 642 2 009 Other -40 589 -16 252 -24 337 -2 806 Deferred tax asset– gross -145 387 -80 161 -65 225 -24 716 DEFERRED TAX LIABILITIES Property, plant & equipment 48 229 21 805 26 424 14 847 Derivatives 0 0 0 0 Provisions for liabilities/other current liabilities 244 480 163 596 80 884 14 037 Deferred tax liabilities – gross 292 702 185 400 107 308 28 884 Net recognized deferred tax liabilities/assets (-) 147 321 105 239 42 082 4 167 Change in deferred tax from purchase of companies / OCI -91 969 -10 670 Net change in deferred tax in income statement -49 886 -6 503 CARRYING AMOUNTS Deferred tax asset -130 959 -14 683 Deferred tax liabilities 278 280 119 923 Net recognized deferred tax assets/ deferred tax liabilities 147 321 105 239 DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES The effect of changes in tax rate for 2019 in Norway resulted in tax income in 2018 on MNOK -0.8 related to Norway. The Group has a total loss carried forward of MNOK 279,7 (MNOK 241.9) as of 31 December 2019, of which MNOK 279,7 (MNOK 241.9) is related to foreign activities. The loss carried forward are indefinitely. Deferred tax assets are recognized when it is probable that the Group will have sufficient taxable profit in subsequent periods to utilize the tax assets. (NOK 1 000) 2019 2018 Actuarial gains/losses, pensions 198 181 Derivatives 0 0 Total 198 181 DEFERRED TAX RECOGNIZED IN THE STATEMENT OF COMPREHENSIVE INCOME ARE AS FOLLOWS 30 116 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS