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Cathay Pacific Airways Limited Interim Report 201336
Condensed Financial Statements
Notes to the Accounts
7. Taxation
Six months ended 30th June
2013
HK$M
2012
HK$M
(restated)
Current tax expenses
– Hong Kong profits tax 77 62
– overseas tax 108 142
– over provision for prior years (35) (135)
Deferred tax
– origination and reversal of temporary differences 23 (12)
173 57
Hong Kong profits tax is calculated at 16.5% (2012: 16.5%) on the estimated assessable profits for
the period. Overseas tax is calculated at rates of tax applicable in countries in which the Group is
assessable for tax. Tax provisions are reviewed regularly to take into account changes in legislation,
practice and the status of negotiations (see note 22(d) to the accounts).
8. Other comprehensive income
Six months ended 30th June
2013
HK$M
2012
HK$M
(restated)
Cash flow hedges
– recognised during the period 2,113 241
– reclassified to profit or loss (92) (291)
– deferred tax recognised (215) 32
Revaluation of available-for-sale financial assets 26 (1)
Share of other comprehensive income of associates
– recognised during the period 126 50
– reclassified to profit or loss 11 –
Exchange differences on translation of foreign operations
– recognised during the period 259 (314)
– reclassified to profit or loss (34) –
Other comprehensive income for the period 2,194 (283)
9. Earnings/(loss) per share (basic and diluted)
Earnings per share is calculated by dividing the profit attributable to the owners of Cathay Pacific of
HK$24 million (2012: a loss of HK$929 million (restated)) by the daily weighted average number of
shares in issue throughout the period of 3,934 million (2012: 3,934 million) shares.