Aer Lingus 2008 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 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
78
20 Deferred taxation
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against
current tax liabilities and when deferred income taxes relate to the same fiscal authority. The offset amounts are as follows:
2008
€’000
2007
€’000
Deferred income tax asset to be recovered after more than 12 months 41,608 27,291
Deferred income tax liability to be recovered after more than 12 months (39,719) (46,607)
Deferred income tax asset/(liability) 1,889 (19,316)
The gross movement on the deferred income tax account is as follows:
2008
€’000
2007
€’000
Deferred income tax (liability)/asset at beginning of the year (19,316) 3,338
Income statement credit/(charge) 11,881 (19,461)
Tax credited/(charged) directly to equity 9,324 (3,193)
Deferred income tax asset/(liability) at end of the year 1,889 (19,316)
The movement in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of
balances within the same tax jurisdiction, is as follows:
Deferred tax assets
Provisions
Derivative
financial
instruments
Tax
losses Total
€’000 €’000 €’000 €’000
At 1 January 2007 20,133 5,660 19,959 45,752
(Charged)/credited to income statement (16,900) (302) 1,458 (15,744)
(Charged) directly to equity - (2,717) - (2,717)
At 31 December 2007 3,233 2,641 21,417 27,291
Credited/(charged) to the income statement 5,719 (2,606) 2,156 5,269
Credited directly to equity - 9,048 - 9,048
At 31 December 2008 8,952 9,083 23,573 41,608
Deferred tax liabilities
Accelerated tax
depreciation
Available-for-sale
financial assets Other Total
€’000 €’000 €’000 €’000
At 1 January 2007 34,376 149 7,889 42,414
Charged to income statement 3,513 - 204 3,717
Charged directly to equity - 415 61 476
At 31 December 2007 37,889 564 8,154 46,607
Charged/(credited) to the income statement 1,481 - (8,093) (6,612)
(Credited)/charged directly to equity - (369) 93 (276)
At 31 December 2008 39,370 195 154 39,719
Notes to the Consolidated Financial Statements
continued