4.4 Legal risk - Scor

Applying the deferred tax netting methodologies in accordance with IFRS the amount of deferred tax liabilities and deferred
tax assets stated in the balance sheet are as follows:
BALANCE SHEET AMOUNTS AS AT 31 DECEMBER 2012 2011 2010
Deferred tax liabilities (332) (254) (192)
Deferred tax assets 688 653 475
NET DEFERRED TAX ASSETS (LIABILITIES) 356 399 283
EXPIRATION OF TAX LOSSES AVAILABLE FOR CARRY-FORWARD
As at 31 December 2012, the operating tax losses available for carry-forward expire as follows:
Available tax
losses carried
forward
Tax losses carried
forward for which no
DTA is recognized
At 31 December 2012
Deferred tax asset
recognized
At 31 December 2011
Deferred tax asset
recognized
In EUR million
2013 7 7 - 2
2014 94 14 6 30
2015 - - - -
2016 - - - -
Thereafter 614 6 203 160
Indefinite 1 356 92 430 461
TOTAL 2 071 119 639 653
Recognition of deferred tax assets on tax losses carried forward is assessed on the availability of sufficient future taxable
income and local tax rules - i.e. unlimited carry forward in France, 20 years carry forward period in the United States and 7
years carry forward period in Switzerland. In 2011, a change in the French Tax Law on tax loss carry forward resulted in the
utilization of tax losses being capped to EUR 1 million plus 60% of the remaining current year taxable result. The limitation
of the tax loss utilization has been tightened by the Finance Bill 2013 and only 50% of the remaining current year taxable
result above the EUR 1 million cap can be offset against tax losses carry forward. The forecast of taxable income are based
on the main assumptions described in Note 1 - Accounting principles and methods. The result of their analysis is that SCOR
expects to utilize all recognized tax loss carry forwards before expiry.
The operating losses which have not been activated as deferred tax assets relate primarily to the French tax Group and
subsidiaries in Switzerland.
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