Deferred Income Tax (Tables)

12 Months Ended

Dec. 31, 2018

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Summary of Deferred Income Tax

Deferred income tax is classified by its estimated reversal term as follows:

	2017			2018
Deferred income tax asset:
Reversal expected in the following 12 months		73,883			48,889
Reversal expected after 12 months		362,814			376,547
Total deferred tax asset		436,697			425,436
Deferred income tax liability:
Reversal expected in the following 12 months		(5,583	)		(9,067	)
Reversal expected after 12 months		(66,889	)		(66,280	)
Total deferred tax liability		(72,472	)		(75,347	)
Deferred income tax asset, net		364,225			350,089

Summary of Movement of Deferred Income Tax

The movement in deferred income tax is as follows:

	2016			2017			2018
Deferred income tax asset, net as of January 1		48,682			353,839			364,225
Credit to income statement (Note 30)		263,806			42,599			25,118
Adjustment for changes in rates of income tax		17,105			1,951			(1,524	)
Credit to other comprehensive income		15,004			—			—
Tax charged to equity		159			—			—
Acquisition of a subsidiary		10,363			(12,160	)		(40,460	)
Acquisition of joint operation		—			(16,804	)		(95	)
Other movements		(1,280	)		(5,200	)		2,825
Total as of December 31		353,839			364,225			350,089

Summary of Movements of Deferred Tax Assets and Liabilities

The movement in deferred tax assets and liabilities in the year, without considering the offsetting of balances, is as follows:

Deferred income tax liabilities	Difference in depreciation rates			Deferred income		Fair value gains			Work in Process			Tax receivables		Borrowing costs capitalized			Purchase price allocation			Others			Total
At January 1, 2016		45,155			—		30,684			24,723			25,543		15,178			—			11,810			153,093
(Charge) credit to P&L		16,595			—		13,587			(16,481	)		3,324		6,240			—			2,618			25,883
(Charge) credit to OCI		—			—		(15,348	)		—			—		—			—			—			(15,348	)
Reclassification of previous years		—			—		(28,923	)		—			—		—			30,187			(1,264	)		—
Acquisition of subsidiary		—			—		—			—			—		—			(3,069	)		—			(3,069	)
At December 31, 2016		61,750			—		—			8,242			28,867		21,418			27,118			13,164			160,559
(Charge) credit to P&L		104,101			—		—			(5,712	)		3,322		(1,473	)		(11,780	)		(3,724	)		84,734
Sale of subsidiary		—			—		—			—			—		—			—			(83	)		(83	)
At December 31, 2017		165,851			—		—			2,530			32,189		19,945			15,338			9,357			245,210
(Charge) credit to P&L		(74,679	)		13,574		—			2,926			689		(4,229	)		(11,699	)		7,828			(65,590	)
Sale of subsidiaries		(16,189	)		—		—			—			—		—			(5,201	)		(3,377	)		(24,767	)
At December 31, 2018		74,983			13,574		—			5,456			32,878		15,716			(1,562	)		13,808			154,853

Deferred income tax assets	Provisions			Accelerated tax depreciation			Tax losses			Work in process			Accrual for unpaid vacations			Investments in subsidiaries			Impairment			Tax Goodwill			Others			Total
At January 1, 2016		20,949			14,892			91,313			24,103			14,977			1,476			—			17,522			16,543			201,775
Charge (credit) to P&L		84,571			1,489			51,163			(6,489	)		(2,005	)		(312	)		172,052			3,003			3,322			306,794
Charge (credit) to equity		159			—			—			—			—			—			—			—			—			159
Charge (credit) to ORI		—			—			—			—			—			—			—			—			(343	)		(343	)
Adquisition of subsidiary (Adexus)		—			—			10,607			—			—			—			—			—			(3,313	)		7,294
Others		—			—			—			—			—			(556	)		—			—			(725	)		(1,281	)
At December 31, 2016		105,679			16,381			153,083			17,614			12,972			608			172,052			20,525			15,484			514,398
Charge (credit) to P&L		(12,614	)		79,637			(8,555	)		21,873			2,166			118			28,593			(112	)		18,358			129,464
Charge (credit) to equity		(8,882	)		—			—			—			—			—			(7,493	)		—			(347	)		(16,722	)
Reclassification		(30,901	)		—			—			—			—			(726	)		31,627			—			—			—
Sale of subsidiary (GMD S.A.)		(683	)		(9,367	)		(438	)		—			(1,697	)		—			—			—			(236	)		(12,421	)
Others		(160	)		—			(1	)		—			(1	)		—			1			—			(5,123	)		(5,284	)
At December 31, 2017		52,439			86,651			144,089			39,487			13,440			—			224,780			20,413			28,136			609,435
Charge (credit) to P&L		702			(83,561	)		25,733			(5,482	)		1,784			—			35,289			(2,365	)		(14,096	)		(41,996	)
Charge (credit) to equity		—			—			—			—			—			—			—			—			(95	)		(95	)
Sale of subsidiary		(14,775	)		(2,169	)		(33,512	)		—			(6,215	)		—			(6,462	)		—			(944	)		(64,077	)
Others		—			—			—			—			—			—			—			—			1,675			1,675
At December 31, 2018		38,366			921			136,310			34,005			9,009			—			253,607			18,048			14,676			504,942

Summary Of Tax Loss Carry forward

As of December 31, 2018, the total tax loss amounts to S/468.8 million and is composed as follows:

Company		Tax loss apli- cation method		Application						Statute of Limitations
				2019		2020		Forward
GyM S.A.	277,541		B		8,801		19,417		249,323
Vial y Vives - DSD	76,474		N/A		11,022		13,226		52,226
Graña y Montero S.A.A.	56,906		A		46,278		10,628		—		2022
GMP S.A.	17,225		A		—		5,786		11,438		2020 / 2021
TGNCA	15,989		B		—		—		15,989
Viva GyM S.A.	12,497		B		—		—		12,497
Consorcio Italo Peruano	3,870		A		3,870		—		—		2020
Consorcio Peruano de Conservación	3,791		A		—		3,243		549		2020 / 2021
Consorcio Huacho-Pativilca	1,457		A		1,457		—		—		2022
Others	3,055				1,195		142		1,718
	468,806				72,624		52,442		343,739