16. Deferred tax assets and liabilities

Changes to deferred tax assets and liabilities in 2015 are as follows:

M €	1 Jan 2015	Recognised in profit and loss	Recognised in other comprehensive income	Other changes	31 Dec 2015
Deferred tax assets
Confirmed losses		1.3			1.3
Cash flow hedges	9.1		-0.9		8.2
Electricity derivatives measured
at fair value	0.2	0.1			0.2
Other items/transfers	2.5	-0.3			2.2
Total	11.8	1.1	-0.9	0.0	12.0

Deferred tax liabilities
Investment properties measured
at fair value	405.3	24.3			429.6
Financial instruments measured
at fair value	0.3		-0.3		0.0
Other items/transfers	0.2				0.2
Total	405.9	24.3	-0.3	0.0	429.8

M €	1 Jan 2014	Recognised in profit and loss	Recognised in other comprehensive income	Other changes	31 Dec 2014
Deferred tax assets
Confirmed losses	0.6	-0.6			0.0
Cash flow hedges	5.2		3.9		9.1
Electricity derivatives measured
at fair value	0.2				0.2
Other items/transfers	1.4	1.1			2.5
Total	7.4	0.5	3.9	0.0	11.8

Deferred tax liabilities
Investment properties measured
at fair value	392.4	12.7		0.2	405.3
Financial instruments measured
at fair value	0.2		0.1		0.3
Other items/transfers	0.2				0.2
Total	392.8	12.7	0.1	0.2	405.9

Expiration years for unrecognised confirmed losses
Year of expiration	2016-2017	2018-2019	2020-2021	2022-2023	2024-2025	Yhteensä
Confirmed losses	0.2	0.4	2.2	2.1	0.2	5.1
Unrecognised defered tax	0.0	0.1	0.4	0.4	0.0	1.0

Unrecognised deferred taxes include EUR 0.7 million of tax assets from tax losses carried forward for properties transferred to Non-current assets held for sale.