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v3.19.1

Tax matters - Statutory tax rate (Details) - USD ($) $ in Thousands | 12 Months Ended
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Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
Tax matters |  |  |  |  |
Accounting profit/(loss) before income tax | $ 48,808 | $ (20,643) |  | $ (405,308) |
Effective tax rate | 36.00% | 31.00% |  | 31.00% |
At weighted effective tax rate of 30% (2017: 31% and 2016: 31%) | $ 17,409 | $ (6,399) |  | $ (125,645) |
Non-taxable income/(expenses) | (14,856) | 96 |  |  |
Non-deductible expenses | 25,079 | 18,278 |  | 81,648 |
Movements in unprovided deferred tax | 7,620 | 7,138 |  | 15,326 |
US Tax Reform - federal tax rate change |  | (31,257) |  |  |
Differing territorial tax rates | (2,262) | 2 |  | (22,949) |
Adjustments in respect of prior periods | (1,038) | 1,233 |  |  |
Other items | (4,936) | (845) |  | 890 |
Elimination of effect of interest in joint ventures | 1,079 | 1,458 |  |  |
Other permanent differences | 1,242 | (1,685) |  | 5,196 |
Incentives and deductions | (6,944) | (3,188) |  | (1,161) |
US State taxes | 1,235 | 348 |  |  |
Taxable capital gains | 607 |  |  |  |
Income tax expense (benefit) | $ 24,235 | $ (14,821) | [1] | $ (46,695) | [1]
Effective tax rate | 21.00% | 35.00% |  |  |
[1] | The amounts for 2016 have been re-presented to show the results of the Spanish energy business within profit (loss) from continuing operations, as described in Note 1 to the consolidated financial statements.

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- Definition The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the other non taxable income (expenses). + References No definition available. + Details
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