EasyJet 2013 Annual Report Download - page 116

Download and view the complete annual report

Please find page 116 of the 2013 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 136

  • 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
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

 easyJet plc Annual report and accounts 2013
$FFRXQWVRWKHULQIRUPDWLRQ
Notes to the accounts continued
 1RQFXUUHQWGHIHUUHGLQFRPH
Deferred income principally comprises the non-current surplus of sale proceeds over fair value of aircraft that have been
sold and leased back under operating leases. This balance will be realised in the income statement over the next nine years.
 0DLQWHQDQFHSURYLVLRQV
£ million
At 1 October 2012 200
Exchange adjustments (2)
Charged to income statement 58
Related to aircraft sold and leased back 68
Transfer from property, plant and equipment (43)
Utilised (29)
$W6HSWHPEHU 
Amounts transferred from property, plant and equipment relate to aircraft life-limited parts used in engine restoration
in the year.
Maintenance provisions are analysed as follows:

PLOOLRQ
2012
£ million
Current  59
Non-current  141
 200
The provision for maintenance liabilities is expected to be utilised within nine years.
 6KDUHFDSLWDO
Number Nominal value

PLOOLRQ
2012
million

PLOOLRQ
2012
£ million
$XWKRULVHG 
At 30 September 2013 and 30 September 2012 
Ordinary shares of 27 2/7 pence each  458  125
$OORWWHGFDOOHGXSDQGIXOO\SDLG 
At 1 October  431  108
Issued during the year under share incentive schemes  1 ± –
Effect of share consolidation ± (36) ± –
$W6HSWHPEHU  396  108
In March 2012, following a special dividend, the shares of easyJet plc were consolidated. The share consolidation replaced
every 12 existing ordinary shares of 25 pence each with 11 new ordinary shares of 27 2/7 pence each. The impact of the share
consolidation on the number of allotted, called up and fully paid shares in the prior year was 36 million. There was no change
in the total value of the Company’s issued share capital.
The weighted average share price for options exercised during the year was £10.57 (2012: £4.57).
easyJet’s employee benefit trusts hold the following unvested shares. The cost of these has been deducted from
retained earnings:
 2012
Number of shares (million)  3
Cost (£ million)  12
Market value at year end (£ million)  17
114 easyJet plc Annual report and accounts 2013