Cathay Pacific 2015 Annual Report Download - page 62
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3. Net finance charges
2015
HK$M
2014
HK$M
Net interest charges comprise:
–obligationsunderfinanceleasesstatedatamortisedcost 457 664
–interestincomeonrelatedsecuritydeposits,notesandzerocouponbonds (18) (37)
439 627
–bankloansandoverdrafts
–whollyrepayablewithinfiveyears 127 139
–notwhollyrepayablewithinfiveyears 358 230
–otherloans
–whollyrepayablewithinfiveyears 101 107
–notwhollyrepayablewithinfiveyears 16 16
–otherlong-termreceivables (22) (24)
1,019 1,095
Income from liquid funds:
–fundswithinvestmentmanagersandotherliquidinvestmentsatfairvalue
throughprofitorloss (41) (57)
–bankdepositsandothers (128) (175)
(169) (232)
Fair value change:
–gainonobligationsunderfinanceleasesdesignatedasatfairvalue
throughprofitorloss (157) (40)
–lossonfinancialderivatives 471 335
314 295
1,164 1,158
Finance income and charges relating to defeasance arrangements have been netted off in the above figures.
Included in the fair value change in respect of financial derivatives are net losses from derivatives that are classified as
held for trading of HK$192 million (2014: net losses of HK$89 million).
4. Taxation
2015
HK$M
2014
HK$M
Current tax expenses
–HongKongprofitstax 170 181
–overseastax 197 177
–underprovisionsforprioryears 63 20
Deferred tax
–originationandreversaloftemporarydifferences(note15) 727 221
1,157 599
Notes to the Financial Statements Statement of Profit or Loss and Other Comprehensive Income