Registration Document BOUYGUES

5
Financial statements
Consolidated financial statements
7.3 Net deferred tax asset/liability by business segment
Deferred taxation
by segment and type
Net deferred tax
asset/(liability)
at 31/12/2010
Changes in scope
of consolidation
Translation
adjustments
Movements during 2011
Gain
Expense
Other items a
Net deferred tax
asset/(liability)
at 31/12/2011
A - Tax losses available for carry-forward
Bouygues Construction 3 3
Bouygues Immobilier
Colas 8 (1) 7
TF1 8 (2) 6
Bouygues SA 9 (9)
Sub-total 28 (12) 16
B - Temporary differences
Bouygues Construction 78 6 (13) (3) 68
Bouygues Immobilier 39 (2) (15) 22
Colas 29 (1) (1) 16 (3) (5) 35
TF1 (16) 13 (6) (1) (10)
Bouygues Telecom 6 (80) 2 (72)
Bouygues SA and other (15) 2 (1) 8 (6)
Sub-total 121 (3) (1) 37 (118) 1 37
TOTAL 149 (3) (1) 37 (130) 1 53 b
(a) Mainly deferred taxation on changes in fair value remeasurements of financial instruments and on actuarial gains/losses on
employee benefits
(b) • Breakdown of net deferred tax asset (€m):
- deferred tax asset: 256
- deferred tax liability: (203)
530
• principal sources of deferred taxation: 31/12/2011 31/12/2010
- deferred tax assets on employee benefits (mainly lump-sum retirement benefits) 133 138
- deferred tax assets on provisions temporarily non-deductible for tax purposes 70 80
- restricted provisions booked solely for tax purposes (104) (127)
- other (46) 58
53 149
7.4 Period to recovery of deferred tax assets
31 December 2011 Less than 2 years 2 to 5 years More than 5 years Total
Estimated period to recovery
of deferred tax assets 132 69 55 a 256
7.5 Unrecognised deferred tax assets
Some deferred tax assets were not recognised as of 31 December 2011 due to the low probability of recovery
(mainly loss carry-forwards, which in the case of France are relevant only to companies not included in the
Bouygues SA group tax election).
31 December 2010
Movements during
2011
31 December 2011
Bouygues Construction 92 26 118
Bouygues Immobilier 48 (1) 47
Colas 58 1 59
TF1 28 (4) 24
Other 1 (1)
Total unrecognised
deferred tax assets 227 21 248
(a) Mainly Colas
BOUYGUES • 2011 Registration Document • FINANCIAL STATEMENTS • 245