EasyJet 2011 Annual Report Download - page 78

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Notes to the accounts
Continued
1 Accounting policies continued
New standard and interpretations not applied
The following standards and interpretations issued by the International Accounting Standards Board have not
been applied in preparing these accounts as their effective dates fall in periods beginning after 1 October 2011.
Effective for the year ending 30 September 2012
Amendments to standards and interpretations
IAS 1 Presentation of Items of Other Comprehensive Income
IAS 12 Deferred Tax (Recovery of Underlying Assets)
IFRS 1 First-time Adoption of IFRS (Hyperinflation and Removal of Fixed Dates for First-time Adopters
IFRS 7 Financial Instruments: Disclosures
Effective for the year ending 30 September 2013
New and revised standards
IAS 27 Separate Financial Statements
IAS 28 Investments in Associates and Joint Ventures
IFRS 9 Financial Instruments
IFRS 10 Consolidated Financial Statements
IFRS 11 Joint Arrangements
IFRS 12 Disclosures of Interests in Other Entities
IFRS 13 Fair Value Measurement
Amendments to standards and interpretations
IAS 19 Employee Benefits
The Directors do not anticipate that the adoption of these standards and interpretations will have a material
impact on easyJet’s accounts. Certain of these standards and interpretations will, when adopted, require
addition to or amendment of disclosures in the accounts.
2 Net finance charges
2011
£ million
2010
£ million
Interest receivable and other financing income
Interest income (9) (7)
(9) (7)
Interest payable and other financing charges
Interest payable on bank loans 20 21
Interest payable on finance lease obligations 5 3
Other interest payable (1) (4)
Net exchange losses (note 21) 6 7
30 27
21 20
Other interest payable includes a credit of £1 million (2010: £6 million) reversing previous interest accruals.
3 Profit before tax
The following have been included in arriving at profit before tax:
2011
£ million
2010
£ million
Depreciation of property, plant and equipment
Owned assets 77 68
Assets held under finance leases 6 4
Loss on disposal of property, plant and equipment – 2
Operating lease rentals
Aircraft 102 99
Other assets 4 3
76
easyJet plc
Annual report
and accounts 2011