The most significant temporary differences giving rise to net deferred tax liabilities are disclosed below:
| (€ million) |
Carrying amount at December 31, 2017 |
Carrying amount at December 31, 2016 | ||||||
| Deferred tax liabilities | ||||||||
| Accelerated tax depreciation | 8,323 | 8,899 | ||||||
| Difference between the fair value and the carrying amount of assets acquired | 1,106 | 1,269 | ||||||
| Site restoration and abandonment (tangible assets) | 305 | 348 | ||||||
| Application of the weighted average cost method in evaluation of inventories | 70 | 81 | ||||||
| Other | 365 | 356 | ||||||
| 10,169 | 10,953 | |||||||
| Deferred tax assets, gross | ||||||||
| Carry-forward tax losses | (5,240 | ) | (4,722 | ) | ||||
| Site restoration and abandonment (provisions for contingencies) | (2,747 | ) | (2,881 | ) | ||||
| Timing differences on depreciation and amortization | (2,164 | ) | (2,260 | ) | ||||
| Accruals for impairment losses and provisions for contingencies | (1,404 | ) | (1,413 | ) | ||||
| Impairment losses | (801 | ) | (906 | ) | ||||
| Over/Underlifting | (395 | ) | (270 | ) | ||||
| Employee benefits | (194 | ) | (163 | ) | ||||
| Unrealized intercompany profits | (130 | ) | (118 | ) | ||||
| Other | (534 | ) | (965 | ) | ||||
| (13,609 | ) | (13,698 | ) | |||||
| Impairments of deferred tax assets | 5,262 | 5,622 | ||||||
| Deferred tax assets, net | (8,347 | ) | (8,076 | ) | ||||
| Net deferred tax liabilities | 1,822 | 2,877 | ||||||