ÖBB Annual Report 2023

Consolidated Financial Statements 260 Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 42 Deferred tax assets and tax liabilities Deferred tax assets and deferred tax liabilities from deferred taxes as at 31.12.2023 and 31.12.2022 are the result following temporary measurement differences between the carrying amounts in the IFRS financial statements and the relevant tax bases, insofar as they do not relate to the tax-exempt share pursuant to Section 50 (2) Federal Railways Act The deferred taxes are allocated to the following Deferred tax Deferred tax items in the statement of financial position, losses carried forward and tax credits assets liabilities assets liabilities in EUR million Dec 31, 2023 Dec 31, 2023 Dec 31, 2022 Dec 31, 2022 Non-current assets Property, plant and equipment 9.6 -115.9 18.6 -113.9 Intangible assets 1.7 -3.5 1.5 -3.9 Investment property 8.8 -0.4 4.6 -5.6 Financial assets 1.1 -36.7 12.8 -158.0 21.2 -156.6 37.5 -281.4 Current assets Inventories 5.4 -0.8 5.8 -0.6 Trade receivables 1.8 -0.4 2.5 -0.6 Other receivables and assets 0.3 -0.3 0.1 0.0 Financial assets 0.3 -4.4 0.2 -4.4 7.8 -5.8 8.6 -5.6 Non-current liabilities Financial liabilities 102.7 -0.3 98.1 -1.2 Provisions 10.0 -2.4 13.1 -4.4 112.7 -2.7 111.2 -5.6 Current liabilities Financial liabilities 16.9 -1.9 65.8 -1.0 Provisions 12.3 -9.5 13.5 -17.8 Trade payables 1.6 -2.6 2.3 -4.1 Other liabilities 42.4 0.0 4.1 0.0 73.2 -14.0 85.7 -22.9 Tax losses carried forward 186.0 0.0 269.7 0.0 Deferred tax assets/deferred tax liabilities 400.9 -179.1 512.7 -315.5 Offsetting -174.7 174.7 -310.5 310.5 Accumulated deferred tax assets / deferred tax liabilities 226.2 -4.4 202.2 -5.0 When assessing deferred tax assets, the Board of Management evaluates the prospective usage within the five-year tax planning period. The use of deferred tax assets requires sufficient taxable income during the periods in which the temporary differences or tax losses can be utilised. The Board of Management uses the scheduled reversal of deferred tax assets and the projected taxable income for this assessment. The temporary differences in the items property, plant and equipment and intangible assets result mainly from the different depreciation start dates (pro rata temporis under IFRS compared to the half-year rule under tax law) as well as from deviating acquisition costs for tax purposes. The temporary differences from the financial assets and liabilities essentially arise due to the different measurement of derivatives under IFRS (fair value measurement) and tax law (provision for contingent losses). The Austrian corporate tax group has a surplus of deferred tax assets from temporary differences of approx. EUR 39.4 million as at 31.12.2023 (py: approx. EUR -68.1 million), which are mainly attributable to measurement differences at ÖBB- Infrastruktur AG. In addition, deferred tax assets of approx. EUR 5.0 million (py: approx. EUR 4.7 million) and deferred tax liabilities of approx. EUR -4.4 million (py: approx. EUR -5.0 million) originate from foreign subsidiaries. Deferred taxes result from surpluses on the assets or liabilities side after offsetting at company level. Deferred tax assets from loss carryforwards totalling approx. EUR 186.0 million (py: approx. EUR 269.7 million) were also recognised on the basis of the budget planning. Of this amount, approx. EUR 28.4 million (py: approx. EUR 156.1 million) came from ÖBB-Infrastruktur AG, approx. EUR 85.8 million (py: approx. EUR 112.6 million) from ÖBB-Personenverkehr AG and approx. EUR 71.0 million (py: approx. EUR 0.0 million) from ÖBB-Holding AG. Deferred tax liabilities on electricity derivatives are mainly recognised in other comprehensive income. The decline in deferred tax liabilities on electricity derivatives also results in a decline in deferred tax assets on tax loss carryforwards, which is, however, recognised in profit or loss.