28. Deferred Income Tax

The deductible and taxable temporary differences in respect of which deferred tax has been recognised are as follows:


	2018 €m		2017 €m
Reported in balance sheet after offset

Deferred tax liabilities		2,209		1,666

Deferred tax assets		(71)		(95)
Net deferred income tax liability		2,138		1,571

Deferred income tax assets (deductible temporary differences)

Deficits on Group retirement benefit obligations (note 29)		95		72

Revaluation of derivative financial instruments to fair value		13		7

Tax loss carryforwards		153		132

Share-based payment expense		21		29

Provisions for liabilities and working capital-related items		266		157

Other deductible temporary differences		39		145
Total		587		542

Deferred income tax assets have been recognised in respect of all deductible temporary differences, with the exception of some tax loss carryforwards. The amount of tax losses where recovery is not probable and is therefore not recognised in the Consolidated Balance Sheet is €1.5 billion (2017: €1.5 billion). The vast majority either do not expire based on current tax legislation or they expire post 2023 (2017: 2022).


Deferred income tax liabilities (taxable temporary differences)

Taxable temporary differences principally attributable to accelerated tax depreciation and fair value adjustments arising on acquisition (i)	2,701	2,089

Revaluation of derivative financial instruments to fair value	11	11

Rolled-over capital gains	13	13
Total	2,725	2,113


Movement in net deferred income tax liability

At 1 January	1,571	1,849

Reclassified from*/(as) held for sale	14	(14)

Translation adjustment	47	(173)

Net expense/(income) for the year (ii)	111	(265)

Arising on acquisition (note 32)	411	132

Disposal	(16)	2

Movement in deferred tax recognised in the Consolidated Statement of Comprehensive Income	(4)	33

Movement in deferred tax recognised in the Consolidated Statement of Changes in Equity	4	7
At 31 December	2,138	1,571

(i)	Fair value adjustments arising on acquisition principally relate to property, plant and equipment.

(ii)	The net expense/(income) for the year includes an expense of €8 million (2017: €1 million) relating to discontinued operations.


* Reflects amounts at 1 January 2018 relating to liabilities held for sale at 31 December 2017 which were subsequently divested in 2018. Refer to note 3 for further details.