BT 2011 Annual Report Download - page 121

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118
FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
10. Taxation continued
Tax components of other comprehensive income
The tax (expense) credit relating to components of other comprehensive income is as follows:
2011 2010 2009
Tax Tax Tax
Before (expense) After Before (expense) After Before (expense) After
tax credit tax tax credit tax tax credit tax
Year ended 31 March £m £m £m £m £m £m £m £m £m
Actuarial gains (losses) relating to retirement
benefit obligations 5,109 (1,534) 3,575 (4,324) 1,211 (3,113) (7,037) 1,959 (5,078)
Exchange differences on translation of
foreign operations (140) 18 (122) (119) (20) (139) 692 64 756
Fair value movements on available-for-sale assets 15 – 15 7 – 7 5 – 5
Fair value movements on cash flow hedges
– fair value (losses) gains (347) (124) (471) (1,067) 297 (770) 2,719 (766) 1,953
– recognised in income and expense 333 119 452 496 (139) 357 (2,144) 600 (1,544)
– reclassified and reported in non-current assets – – – (4) 1 (3) (5) 2 (3)
4,970 (1,521) 3,449 (5,011) 1,350 (3,661) (5,770) 1,859 (3,911)
Current tax credit (expense) 25 (2) –
Deferred tax (expense) credit (1,546) 1,352 1,859
(1,521) 1,350 1,859
11. Earnings (loss) per share
Basic earnings (loss) per share is calculated by dividing the profit or loss attributable to equity shareholders by the weighted average number
of shares in issue after deducting the group’s shares held by employee share ownership trusts and treasury shares.
In calculating the diluted earnings (loss) per share, share options outstanding and other potential shares have been taken into account
where the impact of these is dilutive. Options over 81m shares (2010: 138m shares, 2009: 158m shares) were excluded from the calculation
of the total diluted number of shares as the impact of these is antidilutive.
Year ended 31 March 2011 2010 2009
Profit (loss) attributable to equity shareholders of the parent (£m) 1,502 1,028 (193)
Basic weighted average number of shares (millions) 7,750 7,740 7,724
Dilutive shares from share options (millions) 252 174 5
Dilutive shares held in trust (millions) 114 74 42
Diluted weighted average number of shares (millions) 8,116 7,988 7,771
Basic earnings (loss) per share 19.4p 13.3p (2.5)p
Diluted earnings (loss) per share 18.5p 12.9p (2.5)p
12. Dividends
2011 2010 2009
pence pence pence
Year ended 31 March per share £m per share £m per share £m
Final dividend paid in respect of the prior year 4.6 357 1.1 85 10.4 804
Interim dividend paid in respect of the current year 2.4 186 2.3 178 5.4 418
7.0 543 3.4 263 15.8 1,222
The Board recommends that a final dividend in respect of the year ended 31 March 2011 of 5.0p per share will be paid to shareholders on
5 September 2011, taking the full year proposed dividend in respect of the 2011 financial year to 7.4p (2010: 6.9p, 2009: 6.5p) which
amounts to approximately £574m (2010: £534m, 2009: £503m). This dividend is subject to approval by shareholders at the Annual General
Meeting and therefore the liability of approximately £388m (2010: £356m, 2009: £85m) has not been included in these financial
statements. The proposed dividend will be payable to all shareholders on the Register of Members on 12 August 2011.
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