4.1.2. Deferred tax expense
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| CREDITED/(CHARGED) | CREDITED/(CHARGED) | ||||||||||
| Jan 1 2015 | Net profit/(loss) | Other comprehensive income | Currency translation differences | Other changes | Dec 31 2015 | Net profit/(loss) | Other comprehensive income | Currency translation differences | Other changes | Dec 31 2016 | |
| Deferred tax assets | |||||||||||
| Employee benefit obligations | 120 | (6) | 1 | – | – | 115 | 5 | 8 | – | 4 | 132 |
| Provision for well decommissioning costs | 141 | (14) | – | – | – | 127 | 10 | – | – | – | 137 |
| Other provisions | 157 | 31 | 1 | – | (11) | 178 | (71) | (3) | – | 3 | 107 |
| Investment tax credit (Norway) | 305 | 4 | – | (20) | – | 289 | (73) | – | 26 | – | 242 |
| Valuation of derivatives | 136 | 137 | – | 1 | – | 274 | (140) | – | 4 | – | 138 |
| Impairment of property, plant and equipment | 144 | 59 | – | – | – | 203 | 38 | – | – | (1) | 240 |
| Tax loss | 602 | (350) | – | (18) | (17) | 217 | (120) | – | 16 | – | 113 |
| Other | 177 | 8 | – | – | (13) | 172 | (47) | – | – | 47 | 172 |
| Total | 1,782 | (131) | 2 | (37) | (41) | 1,575 | (398) | 5 | 46 | 53 | 1,281 |
| Deferred tax liabilities | |||||||||||
| Difference between tax and accounting value of non-current assets | 2,985 | (79) | – | (77) | – | 2,829 | (965) | – | 84 | 6 | 1,954 |
| Valuation of derivative financial instruments | 120 | 141 | (82) | 2 | – | 181 | (144) | 149 | 4 | – | 190 |
| Other | 144 | (12) | – | – | (52) | 80 | 860 | – | 27 | 2 | 969 |
| Total | 3,249 | 50 | (82) | (75) | (52) | 3,090 | (249) | 149 | 115 | 8 | 3,113 |
| Set-off of assets and liabilities | (1,724) | (1,533) | – | (1,181) | |||||||
| After set-off | |||||||||||
| Assets | 58 | 42 | (398) | 100 | |||||||
| Liabilities | 1,525 | 1,557 | (249) | 1,932 | |||||||
| Net effect of changes in the period | (181) | 84 | 38 | 11 | (149) | (144) | (69) | 45 | |||
