EasyJet 2014 Annual Report Download - page 120

Download and view the complete annual report

Please find page 120 of the 2014 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 140

  • 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
  • 137
  • 138
  • 139
  • 140

118 easyJet plc Annual report and accounts 2014
Notes to the accounts continued
17 Maintenance provisions continued
Maintenance provisions are analysed as follows:
2014
£ million
2013
£ million
Current 79 81
Non-current 147 171
226 252
The provision for maintenance liabilities is expected to be utilised within nine years.
18 Share capital
Number Nominal value
2014
million
2013
million
2014
£ million
2013
£ million
Authorised
At 30 September 2014 and 30 September 2013
Ordinary shares of 27 2/7 pence each 458 458 125 125
Allotted, called up and fully paid
At 1 October 397 396 108 108
Issued during the year under share incentive schemes – 1 – –
At 30 September 397 397 108 108
The weighted average share price for options exercised during the year was £14.46 (2013: £10.57).
easyJet's employee benefit trusts hold the following shares. The cost of these has been deducted from retained earnings:
2014 2013
Number of shares (million) 3 4
Cost (£ million) 26 24
Market value at year end (£ million) 39 50
19 Share incentive schemes
easyJet operates the following share incentive schemes, all of which are equity settled. The change in the number of awards
outstanding and weighted average exercise prices during the year, and the number exercisable at each year end were as follows:
Grant date
1 October
2013
million
Granted
million
Forfeited
million
Exercised
million
30 September
2014
million
Discretionary schemes
19 January 2004 0.1 – – (0.1) –
8 December 2004 0.7 – – (0.3) 0.4
Long Term Incentive Plan
16 January 2009 0.1 – – (0.1) –
16 December 2009 0.2 – – (0.2) –
5 July 2010 0.2 – – (0.2) –
31 March 2011 2.2 – – (0.9) 1.3
4 January 2012 2.6 – (0.1) – 2.5
18 December 2012 1.3 – (0.1) – 1.2
17 December 2013 – 0.7 – – 0.7
Sharesave
1 July 2011 2.1 – (0.1) (1.8) 0.2
1 July 2012 1.0 – (0.1) – 0.9
1 July 2013 0.6 – – – 0.6
1 July 2014 – 0.8 – – 0.8
Share Incentive Plan 5.8 0.6 (0.1) (1.0) 5.3
16.9 2.1 (0.5) (4.6) 13.9