Adecoagro S.A. | CIK:0001499505 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Adecoagro S.A. (CIK: 0001499505)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/0001628280-18-005268-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/agro-20171231.xml
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    • ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory

    Deferred tax assets and liabilities of the Group as of December 31, 2017 and 2016, without taking into consideration the offsetting of balances within the same tax jurisdiction, will be recovered or settled as follows:
     
    2017
     
    2016
    Deferred income tax asset to be recovered after more than 12 months
    109,830

     
    96,822

    Deferred income tax asset to be recovered within 12 months
    20,191

     
    17,504

    Deferred income tax assets
    130,021

     
    114,326

     
     
     
     
    Deferred income tax liability to be settled after more than 12 months
    (90,951
    )
     
    (86,573
    )
    Deferred income tax liability to be settled within 12 months
    (6,090
    )
     
    (3,856
    )
    Deferred income tax liability
    (97,041
    )
     
    (90,429
    )
    Deferred income tax assets, net
    32,980

     
    23,897

    The movement in the deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows:
    Deferred income tax
    liabilities
     
    Property,
    plant and
    equipment
     
    Biological
    assets
     
    Others
     
    Total
    At January 1, 2016
     
    55,964

     
    15,963

     
    —

     
    71,927

    Charged / (credited) to the statement of income
     
    3,380

     
    (2,752
    )
     
    16,787

     
    17,415

    Exchange differences
     
    (512
    )
     
    911

     
    688

     
    1,087

    At December 31, 2016
     
    58,832

     
    14,122

     
    17,475

     
    90,429

    Charged / (credited) to the statement of income
     
    23,249

     
    3,707

     
    (15,583
    )
     
    11,373

    Exchange differences
     
    (4,437
    )
     
    (1,057
    )
     
    733

     
    (4,761
    )
    At December 31, 2017
     
    77,644

     
    16,772

     
    2,625

     
    97,041

     
    Deferred income tax
    assets
     
    Provisions
     
    Tax loss
    carry
    forwards
     
    Equity-settled
    share-based
    compensation
     
    Biological
    assets
     
    Others
     
    Total
    At January 1, 2016
     
    1,789

     
    107,191

     
    5,620

     
    1,727

     
    8,708

     
    125,035

    Charged/(credited) to the statement of income
     
    353

     
    31,074

     
    20

     
    (2,063
    )
     
    149

     
    29,533

    Tax charge relating to cash flow hedge
     
    —

     
    (52,282
    )
     
    —

     
    —

     
    —

     
    (52,282
    )
    Exchange differences
     
    289

     
    11,135

     
     
     
    336

     
    280

     
    12,040

    At December 31, 2016
     
    2,431

     
    97,118

     
    5,640

     
    —

     
    9,137

     
    114,326

    (Credited) / charged to the statement of income
     
    (705
    )
     
    11,907

     
    41

     
    —

     
    19,623

     
    30,866

    Tax charge relating to cash flow hedge
     
    —

     
    (8,715
    )
     
    —

     
    —

     
    —

     
    (8,715
    )
    Exchange differences
     
    757

     
    (4,193
    )
     
    —

     
    —

     
    (3,020
    )
     
    (6,456
    )
    At December 31, 2017
     
    2,483

     
    96,117

     
    5,681

     
    —

     
    25,740

     
    130,021

    The gross movement on the deferred income tax account is as follows:
     
    2017
     
    2016
    Beginning of year
    23,897

     
    53,108

    Exchange differences
    (1,695
    )
     
    10,953

    Tax (charge) relating to cash flow hedge (i)
    (8,715
    )
     
    (52,282
    )
    Income tax benefit
    19,493

     
    12,118

    End of year
    32,980

     
    23,897

     
    (i) Relates to the gain or loss before income tax of cash flow hedge recognized in other comprehensive income amounting to US$ (565) for the year ended December 31, 2017 (2016: US$ (67,683)); net of the reclassification from Equity to Income Statements of US$ (20,758) for the year ended December 31, 2017 (2016: US$ (85,214))