XII. Deferred tax assets and liabilities

Deferred tax assets, shown net of offsettable deferred tax liabilities, amount to € 45,511k (€ 35,883k at 31 December 2014). At the end of 2015, “Deferred tax liabilities” not offsettable against deferred tax assets amounted to € 41,456k (€ 37,418k the previous year).

Deferred tax liabilities and deferred tax assets are broken down as follows:

(€k)  31.12.201531.12.2014
Deferred tax liabilities gross 98,892 93,182
Deferred tax assets available for offset (57,436) (55,764)
Deferred tax iabilities 41,456 37,418
Deferred tax assets non available for offset 45,511 35,883
 

The following tables show gross movements in deferred taxes in 2015 and 2014.

(k)31.12.2014Recognised in profit and lossRecognised in other comprehensive incomeExchange rate gains/(losses)Other movements  31.12.2015
Deferred tax assets            
Property, plan and equipmentand intangible assets 25,368 (304) - 599 (1,267) 24,395
Trade receivables 5,137 887 - 437 - 6,462
Other assets 1,413 (119) (160) 84 - 1,218
TFR and other employee benefit 36,735 459 (580) 3,459 - 40,073
Provision for risks and charges 2,056 427 - - - 2,483
Other liabilities 3,289 3,862 (728) 262 (192) 6,492
Carry-forward tax losses 17,650 4,138 - 36 - 21,825
Total 91,647 9,349 (1,468) 4,878 (1,458) 102,947
             
Deferred tax liabilities            
Property, plan and equipmentand intangible assets 67,118 1,550 - 4,922 (2,430) 71,159
Other assets 16,119 886 - 1,807 - 18,813
Provision for risks and charges 303 - - 28 - 331
Other reserves and retained earnings 8,057 (1,471) - 7 - 6,593
Other liabilities 1,584 303 - 107 - 1,995
Total 93,182 1,268 - 6,872 (2,430) 98,892
 
(k)31.12.2013Recognised in profit and lossRecognised in other comprehensive incomeExchange rate gains/(losses)Other movements31.12.2014
Deferred tax assets            
Property, plan and equipmentand intangible assets 21,829 2,277 - 1,261 - 25,368
Trade receivables 5,290 (604) - 452 - 5,137
Other assets 1,214 (179) 159 219 - 1,413
TFR and other employee benefit 30,108 (1,702) 5,239 3,090 - 36,735
Provision for risks and charges 3,356 (1,280) - (20) - 2,056
Other liabilities 3,248 1,197 (1,388) 231 - 3,289
Carry-forward tax losses 16,035 1,605 - 10 - 17,650
Total 81,080 1,315 4,010 5,243 - 91,647
             
Deferred tax liabilities            
Property, plan and equipmentand intangible assets 59,139 2,937 - 5,042 - 67,118
Other assets 13,825 434 - 1,861 - 16,119
Provision for risks and charges 248 51 - 5 - 303
TFR and other employee benefit 1,973 (1,973) - - - -
Other reserves and retained earnings 11,862 (3,815) - 10 - 8,057
Other liabilities 1,234 257 - 93 - 1,584
Total 88,281 (2,109) - 7,010 - 93,182
 

Tax losses existing at 31 December 2015 on which deferred tax assets have not been recognized, as business is not expected to be profitable enough to generate taxable income allowing their use, amount to € 193,395k. The corresponding unrecognized tax benefit would be € 54,059k. Most of those losses are concentrated in Italy.