17. Deferred taxes

The calculation of deferred taxes is based on the specific tax rates of each country, which were between 9 and 24 per cent in the financial year (2021: between 9 and 25 per cent).

The deferred tax assets and deferred tax liabilities stated in the Consolidated Statement of Financial Position performed as follows:

Net deferred tax

In € thousand

 

At 1 January 2021

–415,291

Changes recognised in profit/(loss)

34,789

Changes recognised in other comprehensive income

87,526

Changes due to changes in basis of consolidation

–3,917

Foreign exchange differences

–346

At 31 December 2021

–297,240

At 1 January 2022

–297,240

Changes recognised in profit/(loss)

40,699

Changes recognised in other comprehensive income

366,118

Changes due to changes in basis of consolidation

–223

Foreign exchange differences

1,598

At 31 December 2022

110,952

Changes recorded in other comprehensive income essentially relate to measurements of financial instruments available for sale and remeasurements of defined benefit obligations.

The differences between the tax carrying amounts and the carrying amounts in the IFRS Consolidated Statement of Financial Position have the following effect:

In € thousand

31/12/2022

31/12/2021

Deferred tax assets

 

 

Technical items

146,843

72,087

Investments

350,228

50,820

Actuarial gains and losses on defined benefit obligations

32,518

54,909

Loss carried forward

1,853

43,890

Other items

86,556

62,604

Total

617,999

284,309

Netting effect

–455,268

–199,400

Total after netting

162,731

84,909

 

 

 

Deferred tax liabilities

 

 

Technical items

396,664

310,970

Investments

74,867

217,444

Actuarial gains and losses on defined benefit obligations

0

1

Other items

35,516

53,134

Total

507,047

581,549

Netting effect

–455,268

–199,400

Total after netting

51,779

382,149

Net deferred tax

110,952

–297,240

The temporary differences in connection with shares in subsidiaries and associates for which no deferred tax liabilities were recognised amounted to € 1,604,193 thousand (2021: € 2,050,441 thousand).

An assessment of the ability to realise deferred tax assets for tax losses not yet used, tax credits not yet used and deductible temporary differences requires an estimate of the amount of future taxable profits. The resulting forecasts are based on business plans that are prepared, reviewed and approved using a uniform procedure throughout the company. Especially convincing evidence regarding the value and future chance of realisation of deferred tax assets is required under internal Group policies if the relevant Group company has suffered a loss in the current or a prior period.

The deferred tax assets stated include € 1,853 thousand (2021: € 43,890 thousand) attributable to tax loss carryforwards. Deferred tax assets from loss carryforwards in the amount of € 57,964 thousand (2021: € 33,003 thousand) were not recognised, as a realisation of these in the near future cannot be assumed, taking maturities into account.

The tax loss carryforwards of € 279,414 thousand (2021: € 328,011 thousand) are forfeited as follows, with “more than 5 years” also including tax loss carryforwards with no forfeit date of € 245,217 thousand (2021: € 301,429 thousand).

In € thousand

31/12/2022

31/12/2021

Up to 1 year1)

2,870

4,227

2 to 5 years2)

7,366

7,832

More than 5 years3)

269,178

315,952

Total

279,414

328,011

1)

Loss carryforwards for which no deferred tax assets have been recognised amount to € 1,247 thousand at 31 December 2022 (31 December 2021: € 1,456 thousand).

2)

Loss carryforwards for which no deferred tax assets have been recognised amount to € 2,836 thousand at 31 December 2022 (31 December 2021: € 2,754 thousand).

3)

Loss carryforwards for which no deferred tax assets have been recognised amount to € 262,538 thousand at 31 December 2022 (31 December 2021: € 140,206 thousand).

The tax loss carryforwards include both loss carryforwards on which deferred tax assets have been recognised and loss carryforwards on which no deferred tax assets have been recognised.