IAS 12 Para 81(g)(i)(ii), analysis of deferred tax in balance sheet and income statement by category, current tax reconciliation

International Consolidated Airlines Group, S.A. – Annual report – 31 December 2023

Industry: airline

10 Tax (extract)

b Current tax asset (extract)

c Deferred tax (liability)/asset

1 Fair value gains/losses include both the Cash flow hedge reserve and the Cost of hedging reserve, of which the movement in relation to Other comprehensive income recognised in the Cash flow hedge reserve for 2023 was €104 million (2022: €68 million, see note 30d).

The deferred tax assets mainly arise in Spain and the UK and are expected to reverse in full beyond one year. Recognition of the deferred tax assets is supported by the expected reversal of deferred tax liabilities in corresponding periods, and projections of operating performance laid out in the management approved business plans.