Aer Lingus 2008 Annual Report Download - page 70

Download and view the complete annual report

Please find page 70 of the 2008 Aer Lingus 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 92

  • 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

AER LINGUS GROUP PLC - ANNUAL REPORT 2008
68
7 Income tax
(i) Income tax (credit)/expense recognised in the income statement
2008 2007
€’000 €’000
Current taxation
Irish corporation tax - -
Deferred tax
Origination and reversal of temporary differences (Note 20) (11,881) 19,461
Total income tax (credit)/expense (11,881) 19,461
(ii) Reconciliation of effective tax rate
2008 2007
€’000 €’000
(Loss)/profit on ordinary activities before tax multiplied by
standard Irish corporation tax rate of 12.5% (2007: 12.5%) (14,962) 15,591
Effects of:
Expenses not deductible for tax purposes 276 22
Differences in tax rates 3,288 3,826
Other adjusting items (483) 22
Income tax (credit)/expense for the year (11,881) 19,461
8 Earnings per share
(a) Basic
Basic earnings per share is calculated by dividing the (loss)/profit attributable to the equity holders of the parent by the weighted
average number of ordinary shares in issue during the year, excluding shares issued under the Long Term Incentive Plan, which
are classified as treasury shares.
2008 2007
(Loss)/profit attributable to equity holders of the parent (€’000s) (107,815) 105,265
Weighted average number of ordinary shares in issue (000’s) 529,731 529,162
Basic (loss)/earnings per share (€ cent per share) (20.4)c 19.9c
(b) Diluted
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume
conversion of all dilutive potential ordinary shares. In 2008 there were no dilutive potential ordinary shares. In 2007 the parent
had dilutive potential ordinary shares due to the 2007 bonus share issue.
2008 2007
(Loss)/profit attributable to equity holders of the parent
used to determine diluted earnings per share (€’000s) (107,815) 105,265
Weighted average number of ordinary shares in issue (000’s) 529,731 529,162
Adjustments for:
- Bonus shares of 1 for 20 October 2007 - 52
Weighted average number of ordinary shares for diluted earnings per share 529,731 529,214
Diluted (loss)/earnings per share (€ cent per share) (20.4)c 19.8c
Notes to the Consolidated Financial Statements
continued