Air New Zealand 2010 Annual Report Download - page 41

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20. DEFERRED TAXATION
Deferred tax assets and liabilities are attributable to the following:
NON-AIRCRAFT
ASSETS
$M
AIRCRAFT
RELATED
$M
FOREIGN
CURRENCY
DEBT
$M
PROVISIONS
AND
ACCRUALS
$M
DERIVATIVE
FINANCIAL
INSTRUMENTS
$M
TAX RATE
CHANGE*
$M
TOTAL
$M
GROUP
As at 1 July 2008 7 351 55 (80) (4) (30) 299
Amounts recognised in equity - - - - (15) - (15)
Amounts recognised in earnings (4) (42) (55) 7 9 30 (55)
Amount recognised on acquisition of subsidiaries 4 - - - - - 4
As at 30 June 2009 7 309 - (73) (10) - 233
Amounts recognised in equity - - - - 13 - 13
Amounts recognised in earnings 20 (8) - (8) - (15) (11)
As at 30 June 2010 27 301 - (81) 3 (15) 235
COMPANY
As at 1 July 2008 6 229 - (81) (4) (14) 136
Amounts recognised in equity - - - - (15) - (15)
Amounts recognised in earnings (3) (35) - 8 9 14 (7)
As at 30 June 2009 3 194 - (73) (10) - 114
Amounts recognised in equity - - - - 14 - 14
Amounts recognised in earnings 20 4 - (7) - (8) 9
As at 30 June 2010 23 198 - (80) 4 (8) 137
* The New Zealand corporate income tax rate reduced from 33% to 30% from the commencement of the 2009 income year. The tax rate change
(1 July 2008) opening balance has been allocated to each category based on their closing balance at 30 June 2008. The New Zealand corporate tax
rate will further reduce to 28% from the commencement of the 2012 income year.
Deferred tax assets and liabilities are offset on the face of the Statement of Financial Position where they relate to entities within the same taxation
authority.
21. ISSUED CAPITAL
GROUP
2010
$M
GROUP
2009
$M
COMPANY
2010
$M
COMPANY
2009
$M
Issued and Fully Paid in Capital
Ordinary shares
Balance at the beginning of the year 2,237 2,227 2,245 2,235
Shares issued 12 7 12 7
Equity-settled share-based payments 3 3 3 3
Balance at the end of the year 2,252 2,237 2,260 2,245
Represented by:
Paid in capital 2,244 2,230 2,252 2,238
Equity-settled share-based payments 8 7 8 7
2,252 2,237 2,260 2,245
GROUP
2010
GROUP
2009
COMPANY
2010
COMPANY
2009
Number of Ordinary shares on issue
Balance at the beginning of the year 1,065,242,681 1,057,224,822 1,065,242,681 1,057,224,822
Mandatory shares issued under Long Term Incentive Plan 336,299 376,671 336,299 376,671
Dividend reinvestment plan 5,863,520 7,641,188 5,863,520 7,641,188
Exercise of Long Term Incentive Plan options 5,304,802 - 5,304,802 -
Balance at the end of the year 1,076,747,302 1,065,242,681 1,076,747,302 1,065,242,681
AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2010
39