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Rothschild & Co | Annual Report 2017
163
1. Overview
4. Financial statements
3.
Management report
2. Business review
The charge arising in the period that relates to share-based payments is included in the line Compensation and other staff costs, and amounts to
€0.5 million (31 March 2017: €0.9 million).
Note 28 – Amortisation, depreciation and impairment of tangible and intangible fixed assets
In thousands of euro
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Depreciation of tangible assets
(17,297)
(22,992)
Amortisation of intangible assets
(4,757)
(5,573)
Impairment of intangible assets
(3,442)
(3,551)
TOTAL
(25,496)
(32,116)
During the prior year, the value of certain software used in one of our businesses was reassessed and its value was written down by €3.6 million. The
deferred terms of payment for this software were performance-based, and the amount accrued as payable was also reduced by €3.6 million. The benefit
of the reduced payment was booked in “Other operating income” (note 26).
Note 29 – Cost of risk
In thousands of euro
Impairment
Impairment
reversal
Recovered
loans
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Loans and receivables
(12,644)
9,783
64
(2,797)
(2,489)
Debt securities
–
1,120
–
1,120
(543)
Guarantee commitments given to customers
–
–
–
–
(325)
Other assets
(3,897)
1,042
–
(2,855)
(7,908)
TOTAL
(16,541)
11,945
64
(4,532)
(11,265)
Note 30 – Net income/(expense) from other assets
In thousands of euro
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Dividend from long-standing shareholding
5,242
3,778
Gains/(losses) on sales of tangible or intangible assets
583
(183)
Gains/(losses) on acquisition, disposal and impairment of subsidiaries and associates
647
2,678
TOTAL
6,472
6,273
Note 31 – Income tax expense
In thousands of euro
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Current tax
(40,432)
(63,843)
Deferred tax
1,513
(6,548)
TOTAL
(38,919)
(70,391)
The net tax charge can be analysed between a current tax charge and a deferred tax charge as follows: