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Financial Statements Aer Lingus Group Plc – Annual Report 2010 81
25 Deferred tax (continued)
The movement in deferred tax assets and liabilities during the period, without taking into consideration the offsetting of balances within the
same tax jurisdiction, is as follows:
Deferred tax assets Provisions Tax losses Total
€’000 €’000 €’000
At 1 January 2009 10,415 23,573 33,988
Credited to the income statement 5,527 12,565 18,092
At 31 December 2009 15,942 36,138 52,080
(Charged)/credited to the income statement (4,711) 12,228 7,517
At 31 December 2010 11,231 48,366 59,597
Deferred tax liabilities
Accelerated tax
depreciation
Derivative
fi nancial
instruments
Available-for-
sale reserve Other Total
€’000 €’000 €’000 €’000 €’000
At 1 January 2009 39,370 (9,083) 195 154 30,636
Charged to the income statement 6,123 - - - 6,123
Charged/(credited) directly to equity - 10,756 (41) (149) 10,566
At 31 December 2009 45,493 1,673 154 5 47,325
Credit to the income statement (8,243) - - - (8,243)
Charged/(credited) directly to equity - 6,949 (82) 111 6,978
At 31 December 2010 37,250 8,622 72 116 46,060
Deferred tax (charged)/credited to equity during the period is as follows:
2010 2009
€’000 €’000
Fair value reserves in shareholders’ equity
- Cash fl ow hedging reserve (6,949) (10,756)
- Revaluation reserve on available-for-sale fi nancial assets 82 41
Share based payment reserve (111) 149
(6,978) (10,566)
The Group is satisfi ed, based on expected future performance, as indicated by the Group’s fi ve year projections, that there is a reasonable
basis on which to recognise the deferred tax assets.