INCREASES (in millions of euros) | |
---|---|
Exceptional amortization | Exceptional amortization 15 |
DECREASES (in millions of euros) | |
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Employee profit-sharing | Employee profit-sharing - |
Other non-deductible provisions | Other non-deductible provisions 5 |
The future tax liability related to this unrealized tax difference was 3 million euro, calculated at a rate of 34.43%.
Sodexo S.A. is required to pay benefits to retiring employees on the terms stipulated in a company-wide collective agreement. The amount of the commitment has been calculated on the basis of rights vested at the balance sheet date, taking into account assumptions about final salary, discount rates and employee turnover.
This commitment, which is not recognized as a liability in the balance sheet, was estimated at 8 million euro as of August 31, 2020.
Commitments related to a supplemental pension plan were estimated using the projected unit credit method based on final salary and net of funding for the plan. These commitments, amounting to 4 million euro, are not recognized in the financial statements.
Directors’ fees paid to Board members during the fiscal year represented less than 1 million euro (refer to section 5.5.3).
Sodexo S.A. recognized a benefit of 14 million euro from the French tax consolidation for Fiscal 2020. This benefit represents the difference between the aggregate of the tax income and expenses recognized by the French subsidiaries included in the French tax consolidation and the income tax of Sodexo S.A. as lead company in the French tax consolidation.
The amount of potentially reclaimable tax losses from subsidiaries included in the French tax consolidation as of August 31, 2020 was 435 million euro, resulting in a provision of 139 million euro (using a rate of 32.02%).