Universal Registration Document 2023

/ Effective tax rate

The effective tax rate is obtained as follows:

(in millions of euros)	unspecified	2023	2022
Pre‑tax income of consolidated companies	unspecified	1,731	1,648
Loss of value	unspecified	6	-
Revaluation of earn‑out payments	unspecified	(12)	2
(Gains)/Losses on disposals ⁽¹⁾	unspecified	(4)	87
Restated pre‑tax income of consolidated companies	A	1,721	1,737
French tax rate applicable to the parent company	unspecified	25.8%	25.8%
Expected tax expense on pre‑tax income of consolidated companies	unspecified	(444)	(449)
Impact of:	unspecified	unspecified	unspecified
● Difference between the French tax rate and foreign tax rates	unspecified	113	133
● Income tax at reduced or increased rates	unspecified	(74)	(80)
● Changes in unrecognized deferred tax assets	unspecified	(11)	(10)
● Other impacts ⁽²⁾	unspecified	1	(25)
Income tax in the income statement	unspecified	(415)	(431)
Income tax in the restated income statement	B	(415)	(431)
Effective tax rate	B /A	24.1%	24.8%

/ Tax effect on other comprehensive income

(in millions of euros)	Gross	Tax	Net	Gross	Tax	Net
non-included	December 31, 2023			December 31, 2022
Actuarial gains (and losses) on defined benefit plans	12	(3)	9	42	(10)	32
Effect of translation adjustments and other	(344)	(12)	(356)	282	8	290
Total	(332)	(15)	(347)	324	(2)	322

/ Schedule of deferred taxes recognized in the balance sheet

(in millions of euros)	December 31, 2023	December 31, 2022
Short‑term (less than one year)	Short‑term (less than one year) December 31, 2023 4	Short‑term (less than one year) December 31, 2022 (34)
Long‑term (over one year)	Long‑term (over one year) December 31, 2023 110	Long‑term (over one year) December 31, 2022 1
Net deferred tax assets (liabilities)	Net deferred tax assets (liabilities) December 31, 2023 114	Net deferred tax assets (liabilities) December 31, 2022 (33)