EasyJet 2012 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 of the 2012 EasyJet 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 108

  • 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

Tax on items recognised directly in other comprehensive income or shareholders’ equity
2012
£ million
2011
£ million
(Charge) / credit to other comprehensive income
Deferred tax (charge) / credit on fair value movements of cash flow hedges (7) 9
Credit / (charge) to shareholders’ equity
Current tax credit on share-based payments 1 –
Deferred tax credit / (charge) on share-based payments 2 (1)
3 (1)
Deferred tax
The net deferred tax liability in the statement of financial position is as follows:
Accelerated
capital
allowances
£ million
Short-term
timing
differences
£ million
Fair value
gains
£ million
Share-
based
payments
£ million
Total
£ million
At 1 October 2011
Charged / (credited) to income statement
Charged to other comprehensive income
Credited to shareholders’ equity
At 30 September 2012 146 30 29 (7) 198
Accelerated
capital
allowances
£ million
Short-term
timing
differences
£ million
Fair value
gains
£ million
Share-
based
payments
£ million
Total
£ million
At 1 October 2010 62 57 33 (4) 148
Charged / (credited) to income statement 58 (18) (1) – 39
Credited to other comprehensive income – – (9) – (9)
Charged to shareholders’ equity – – – 1 1
At 30 September 2011 120 39 23 (3) 179
It is estimated that deferred tax liabilities of approximately £11 million (2011: £5 million) will reverse during the next financial year.
Deferred tax assets and liabilities have been offset where they relate to taxes levied by the same taxation authority. As a result the net
UK deferred tax liability is £212 million (2011: £190 million). The net overseas deferred tax asset is £14 million (2011: £11 million).
No deferred tax liability has been recognised on the unremitted earnings of overseas subsidiaries as no tax is expected to be payable in
the foreseeable future based on the current repatriation policy of easyJet.
120 39 23 (3) 179
26 (9) (1) (2) 14
– – 7 – 7
– – – (2) (2)
Accounts & other information
easyJet plc
Annual report and accounts 2012 79