Porsche 2004 Annual Report Download - page 129
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125
9) Minority interests
The Group’s earnings after tax contain losses allocable to minority interests of T€ 3,504
(previous year: T€ 4,116).
Earnings per share are calculated by dividing the profit allocable to the shareholders of
Porsche AG by the total number of shares outstanding in the fiscal year. There were no measures
that have a dilutive effect.
(10) Earnings per share
The deferred tax assets and liabilities break down by balance sheet item as follows:
Deferred tax assets Deferred tax liabilities
July 31, 2005 July 31, 2004 July 31, 2005 July 31, 2004
T€ T€ T€ T€
Non-current assets 218,683 116,976 284,343 288,244
Current assets 150,655 98,597 340,564 318,104
Unused tax losses and tax credits 785 18,176 – –
Provisions 252,897 206,973 – 45
Liabilities 13,639 43,075 7,337 27,405
Subtotal 636,659 483,797 632,244 633,798
Offsetting – 451,895 – 427,135 – 451,895 – 427,135
Balance pursuant to
consolidated balance sheet 184,764 56,662 180,349 206,663
2004/05 2003/04
Earnings after tax T€ 779,000 690,000
Minority interests T€ 3,504 4,116
Profit allocable to shareholders of Porsche AG T€ 782,504 694,116
Profit allocable to ordinary shares T€ 390,990 346,796
Profit allocable to preference shares T€ 391,514 347,320
Average number of
ordinary shares outstanding Number 8,750,000 8,750,000
Average number of
preference shares outstanding Number 8,750,000 8,750,000
Earnings per ordinary share € 44.68 39.63
Earnings per preference share € 44.74 39.69