Ryanair 2010 Annual Report Download - page 170
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168
(ii) Foreign currency risk: A plus or minus change of 10% in relevant foreign currency exchange
rates, based on outstanding foreign currency-denominated financial assets and financial liabilities at March 31,
2010 would have a respective positive or negative impact on the income statement of 14.8 million (net of tax)
and on equity of 1153 million (net of tax).
(iii) Equity price risk: A decrease of 10% in the Aer Lingus share price as of March 31, 2010
would result in a decrease of 111.6 million in the fair value of the available-for-sale financial assets. The
decrease would be recognised in other comprehensive income. An increase of 10% in the Aer Lingus share price
at March 31, 2010 would result in an increase of 111.6 million in the fair value of the available-for-sale financial
assets reserve. Such an increase would be recognised in other comprehensive income.
12 Deferred and current taxation
The components of the deferred and current taxation in the balance sheet are as follows:
At March 31,
2010 2009 2008
1M 1M 1M
Current tax liabilities/(assets)
Corporation tax provision/(prepayment)................................
.............................
0.9 0.4 (1.6)
Total current tax................................................................................................
..
0.9 0.4 (1.6)
Deferred tax liabilities
Origination and reversal of temporary differences on property,
plant and equipment, derivatives, pensions, and available-for
-sale securities................................................................................................
.....
229.1 189.8 148.1
Total non-current deferred tax liabilities................................
.............................
229.1 189.8 148.1
Deferred tax (assets)
Net operating losses................................................................
............................
(29.5) (34.3) -
Total non-current deferred tax assets................................................................
..
(29.5) (34.3) -
Total deferred tax liabilities (net) ................................................................
....
199.6 155.5 148.1
Total tax liabilities (net) ................................................................
...................
200.5 155.9 146.5
At March 31,
2010 2009 2008
1M 1M 1M
Reconciliation of current tax
At beginning of year................................................................
.......................
0.4 (1.6) 20.8
Corporation tax charge in year ................................................................
.......
0.8 0.7 28.6
Adjustment in respect of prior-year over-provision................................
........
(0.3) (0.4) (3.8)
Tax refunded/(paid)................................................................
........................
- 1.7 (47.2)
At end of year................................................................
................................
0.9 0.4 (1.6)
At March 31,
2010 2009 2008
1M 1M 1M
Reconciliation of deferred tax
At beginning of year................................................................
.......................
155.5 148.1 151.0
Adjustment in respect of prior year overprovision................................
..........
(1.7) 0.1 -
Recognition of deferred tax asset re net operating losses
...............................
- (34.3) -
Release of deferred tax asset for prior-year net operating losses
....................
6.6 - -
New temporary differences on property, plant and equipment,
derivatives, pensions and other items................................
.......................
39.2 41.6 (2.9)
At end of year ................................................................
................................
199.6 155.5 148.1