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Income tax (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure Of Income Tax [Abstract]  
Summary of Income Tax Expense (Benefit)
202020192018
(in € millions)
Current tax expense
Current year25 45 41 
Changes in estimates in respect to prior year(9)(1)— 
16 44 41 
Deferred tax (benefit)/expense
Temporary differences(137)27 (123)
Change in recognition of deferred tax(7)(17)(14)
Change in tax rates— 1 1 
(144)11 (136)
Income tax (benefit)/expense(128)55 (95)
Summary of Reconciliation Between Reported Tax Expense and Theoretical Tax Expense Loss Before Taxes
A reconciliation between the reported tax expense for the year, and the theoretical tax expense that would arise when applying the statutory tax rate in Luxembourg of 24.94%, 24.94%, and 26.01%, to the consolidated loss before taxes for the years ended December 31, 2020, 2019, and 2018, respectively, is shown in the table below:
202020192018
(in € millions)
Loss before tax(709)(131)(173)
Tax using the Luxembourg tax rate(177)(33)(45)
Effect of tax rates in foreign jurisdictions12 2 (11)
Permanent differences54 58 (7)
Change in unrecognized deferred taxes(9)29 (43)
Adjustments in respect of previous years(9)(1)
Other1 — 11 
Income tax (benefit)/expense(128)55 (95)
Schedule of Major Components of Deferred Tax Assets and Liabilities
The major components of deferred tax assets and liabilities are comprised of the following:
20202019
(in € millions)
Intangible assets(61)(42)
Share-based compensation27 14 
Tax losses carried forward224 78 
Property and equipment91 79 
Unrealized gains(276)(126)
Other10 4 
Net deferred tax15 7 
Summary of Reconciliation of Net Deferred Tax
A reconciliation of net deferred tax is shown in the table below:
202020192018
(in € millions)
At January 17 6 6 
Movement recognized in consolidated statement of
   operations		144 (11)136 
Movement recognized in consolidated statement of
   changes in equity and other comprehensive income		(136)18 (136)
Movement due to acquisition— (6)— 
At December 3115 7 6 
Summary of Deferred Tax Reconciliation to Balance Sheet
Reconciliation to consolidated statement of financial position20202019
 (in € millions)
Deferred tax assets15 9 
Deferred tax liabilities— 2 
Summary of Deferred Tax Assets Unrecognized
Deferred tax assets have not been recognized in respect of the following items, because it is not probable that future taxable profit will be available against which the Group can use the benefits. Certain prior year amounts have been reclassified to conform to current year presentation.
20202019
(in € millions)
Intangible assets72 77 
Share-based compensation198 58 
Tax losses carried forward201 192 
Tax credits carried forward28 14 
Unrealized losses1 3 
Other35 33 
535 377 
Schedule of Tax Loss Carry-forwards Expected to Expire Tax loss and credit carry-forwards as at December 31, 2020 were expected to expire as follows:
Expected expiry2021 - 20302031 and onwardsUnlimitedTotal
(in € millions)
Tax loss carry-forwards— 695 1,501 2,196 
Research and development credit carry-forward— 28 — 28 
Foreign tax credits2 — — 2