Income taxes on an IFRS basis were €197 million positive, versus charges of €(299) million on an underlying basis. The €(496) million adjustment includes mainly:

  • €(168) million to adjust for the tax impacts of the adjustments made to the underlying result before taxes (as described above).
  • €(328) million to adjust for tax elements related to prior periods, of which €202 million resulting from the recognition of deferred tax assets in France and €49 million net impact triggered by the US tax reform.