Groupe Renault - 2020 Universal Registration Document

371 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020 04 CONSOLIDATED FINANCIAL STATEMENTS GROUPE RENAULT GROUPE RENAULT: A COMPANY THAT ACTS RESPONSIBLY CORPORATE GOVERNANCE FINANCIAL STATEMENTS RENAULT AND ITS SHAREHOLDERS ANNUAL GENERAL MEETING OF RENAULT ON APRIL 23, 2021 ADDITIONAL INFORMATION The residual unrecognized deferred tax assets of entities included in the French tax consolidation group amounted to €3,845 million (€3,442 million at December 31, 2019). They comprise tax losses that can be carried forward indefinitely to set against future taxable income up to a limit of 50% of that income. €372 million of these unrecognized assets were generated by items booked through shareholders’ equity (effects of the partial hedge of the investment in Nissan), and €3,473 million were generated by items affecting the income statement (respectively €393 million and €3,049 million at December 31, 2019). For entities not in the French tax consolidation group, unrecognized deferred tax assets totaled €913 million at December 31, 2020 (€848 million at December 31, 2019), including €252 million for AVTOVAZ (€34 million at December 31, 2019) and €661 million for the Group excluding AVTOVAZ (€814 million at December 31, 2019) and principally comprise tax loss carryforwards generated by the Group in Brazil, India, and to a lesser extent in Argentina. Breakdown of deferred taxes on tax losses by expiry date D3 Unrecognized loss carryforwards represent a potential tax saving of €4,596 million at December 31, 2020. (€ million) December 31, 2020 December 31, 2019 Deferred taxes on: Recognized Not recognized Total Recognized Not recognized Total Tax losses that can be carried forward indefinitely* 724 4,196 4,920 879 3,848 4,727 Tax losses expiring in more than 5 years 3 78 81 - 29 29 Tax losses expiring in between 1 and 5 years 7 67 74 3 104 107 Tax losses expiring within 1 year 2 3 5 - 8 8 TOTAL DEFERRED TAXES ON TAX LOSSES (EXCLUDING AVTOVAZ) 736 4,344 5,080 882 3,989 4,871 TOTAL DEFERRED TAXES ON TAX LOSSES OF AVTOVAZ - 252 252 293 34 327 TOTAL DEFERRED TAXES ON TAX LOSSES OF THE GROUP 736 4,596 5,332 1,175 4,023 5,198 Including recognized and unrecognized deferred taxes corresponding to tax loss carryforwards of entities included in the French tax consolidation group calculated at the * income tax rate of 28.14%, which amount to €701 million and €3,845 million respectively at December 31, 2020 and €842 million and €3,442 million respectively at December 31, 2019 (note 8-D2). BASIC AND DILUTED EARNINGS PER SHARE NOTE 9 (thousands of shares) 2020 2019 Shares in circulation 295,722 295,722 Treasury shares (4,990) (4,700) Shares held by Nissan x Renault’s share in Nissan (19,383) (19,383) Number of shares used to calculate basic earnings per share 271,349 271,639 The number of shares used to calculate the basic earnings per share is the weighted average number of ordinary shares in circulation during the period, i.e. after neutralization of treasury shares and Renault shares held by Nissan. (thousands of shares) 2020 2019 Number of shares used to calculate basic earnings per share 271,349 271,639 Dilutive effect of stock options, performance share rights and other share-based payments - - Number of shares used to calculate diluted earnings per share 271,349 271,639 The number of shares used to calculate the diluted earnings per options and rights to performance shares awarded under the share is the weighted average number of ordinary shares potentially relevant plans, that have a dilutive effect and fulfil the performance in circulation during the period, i.e. the number of shares used to conditions at the reporting date when issuance is conditional calculate the basic earnings per share plus the number of stock (note 18-G).