Cathay Pacific 2015 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2015 Cathay Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

Cathay Pacific Airways Limited
74
Notes to the Financial Statements Statement of Financial Position
15. Deferred taxation (continued)
2015
HK$M
2014
HK$M
Movements in deferred taxation comprise:
At 1st January 9,263 9,429
Movements for the year
 –chargedtoprofitorloss
  –deferredtaxexpenses(note4) 727 221
  –operatingexpenses 59 48
 –chargedtoothercomprehensiveincome
  –transferredtocashflowhedgereserve(note5) (890) (1,490)
  –transferredtoretainedprofit(note5) (33) (40)
 –initialcashbenefitfromleasearrangements –1,195
Current portion of provision in respect of certain lease arrangements included under
 currentliabilities–taxation (345) (100)
At 31st December 8,781 9,263
Deferred tax assets are recognised in respect of tax losses carried forward to the extent that realisation of the related
tax benefits through future taxable profits is probable. The Group has unrecognised tax losses of HK$9,654 million
(2014: HK$12,424 million) to carry forward against future taxable income. These amounts are analysed as follows:
Group
Unrecognised tax losses
2015
HK$M
2014
HK$M
No expiry date 2,426 8,444
Expiringbeyond2021 7,228 3,980
9,654 12,424
The provision in respect of certain lease arrangements equates to payments which are expected to be made during the
years 2017 to 2026 (2014: 2016 to 2025) as follows:
2015
HK$M
2014
HK$M
After one year but within five years 2,373 2,096
After five years but within 10 years 5,557 5,173
After 10 years –947
7,930 8,216