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Financial position – resultsNotes to the consolidated financial statements 419e - Analysis of current tax losses and tax credits for which no deferred tax assets have been recognised (1)(€ millions)Current tax losses (by originatingcountry)At 31 December 2012Expiry (in base tax amounts)Less than 1 year Between 1 and 4 years More than 4 years Unlimited Total taxable baseEstimated potentialsavingsFrance – – – 266 266 92Germany – – – 12 12 4United States – – 107 – 107 42United Kingdom – – – 44 44 10The Netherlands 1 16 49 – 66 17Czech Republic 9 6 1 – 16 3Spain – 1 28 – 29 9Poland – 1 4 – 5 1Belgium – – – 25 25 9Denmark – – – 23 23 6Turkey – 2 – – 2 1Ireland – – – 4 4 1Other countries – 4 5 21 30 3TOTAL AT 31 DECEMBER 2012 10 30 194 395 629 198At 31 December 2011France – – – 198 198 68Germany – – – 12 12 4United States – – 103 – 103 40United Kingdom – – – 44 44 11The Netherlands – 11 41 – 52 13Czech Republic 1 12 1 – 14 3Spain 1 – 27 – 28 8Poland 18 – – – 18 3Belgium – – – 22 22 8Denmark – – – 14 14 4Turkey 4 1 1 – 6 1Brazil – – – 5 5 1Other countries – – 14 12 26 6TOTAL AT 31 DECEMBER 2011 24 24 187 307 542 170(1) These items correspond to tax loss carryforwards excluding specific regimes applicable to asset disposals.Deferred tax assets are only recognised for tax loss carryforwards when their recovery is probable in the following financial year or inthe medium term (three to five years), based on earnings forecasts determined by reference to medium-term business plans for the companiesconcerned.Sequana | 2012 Document de référence (English version) | 145