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DES GB2015 Englisch

23. SHARE OF THE PROFIT OR LOSS OF ASSOCIATES AND JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD in € thousand 2015 2014 Profit/loss from equity-accounted associates 68,355 35,129 Amounts shown are shares in profit/losses of joint ventures and asso- ciates for the year. They relate to five shopping center companies and four smaller property companies. The profit/loss of equity-accounted companies is made up of operating profit of €21,175 thousand (previous year: €22,414 thousand) and measurement gains of €47,180 thousand (previous year: €12,688 thousand). 24. PROFIT/LOSS ATTRIBUTABLE TO LIMITED PARTNERS in € thousand 2015 2014 Profit/loss attributable to limited partners -17,020 -16,117 25. MEASUREMENT GAINS/LOSSES in € thousand 2015 2014 Unrealised changes in fair value 285,408 88,302 Profit/loss attributable to limited partners -64,376 -11,316 Other -476 0 220,556 76,986 26. INCOME TAXES in € thousand 2015 2014 Current tax expense -4,577 -5,442 Domestic deferred tax expense -72,586 -27,926 Foreign deferred tax expense -8,265 -3,879 -85,428 -37,247 In measuring deferred taxes, the tax rates applicable in accordance with IAS 12 are those valid under current legislation at the date at which the temporary differences will probably reverse. In the year under review, a corporate tax rate of 15% was used for the companies in Germany. In addition, a solidarity surcharge of 5.5% on the calculated corporate tax and, in part, 16.45% in trade tax were recognised. The respective local tax rates, ranging between 19% and 25%, were applied for foreign companies. TAX RECONCILIATION Income taxes in the amount of €-85,428 thousand in the year under review are derived as follows from an expected income tax expense that would have resulted from the application of the parent company’s statutory income tax rate to the profit before tax. This was calculated using a tax rate of 32.28%. in € thousand 2015 2014 Consolidated profit before income tax 394,710 214,673 Theoretical income tax 32.28% -127,412 -69,296 Tax rate differences for foreign Group companies 5,381 1,647 Tax rate differences for domestic Group companies 36,877 24,148 Tax-free income/non- deductible expenses -408 -589 Effect of tax rate changes 0 7,174 Aperiodic tax income 134 -381 Other 0 50 CURRENT INCOME TAX -85,428 -37,247 In financial year 2015, the effective income tax rate was 21.7%. This did not include aperiodic tax income in the amount of €134 thousand. 163 CONSOLIDATED FINANCIAL STATEMENTS equity-accounted associates 68,35535,129 in fair value 285,40888,302 Other -4760 220,55676,986 income tax 394,710214,673 foreign Group companies 5,3811,647 domestic Group companies 36,87724,148 Effect of tax rate changes 07,174 Other 050

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