Cathay Pacific 2001 Annual Report Download - page 40

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38 Cathay Pacific Airways Limited Annual Report 2001
4. NET FINANCE CHARGES
2001 2000
HK$M HK$M
Net interest charges
-
Obligations under finance leases 2,471 2,253
-
Interest income on related security deposits, notes and bonds (1,410) (1,230)
1,061 1,023
-
Bank loans and overdrafts 167 445
-
Interest income on related security deposits (10) (261)
157 184
-
Other loans and bonds wholly repayable within 5 years 47
-
Other loans not wholly repayable within 5 years 26 26
1,248 1,240
Income from liquid funds
-
Funds with investment managers (393) (494)
-
Bank deposits and investments (284) (379)
(677) (873)
571 367
Finance income and charges relating to defeasance arrangements have been netted off in the above figures.
5. PROFIT ON SALE OF INVESTMENTS
During the year, the Group’s indirect interest in Equant N.V. was disposed of in exchange for an indirect interest
in France Telecom S.A. and the mark to market gain previously recognised in equity has, in accordance with
HK SSAP 24, been transferred to the profit and loss account.
6. TAXATION
The taxation charge comprises:
2001 2000
HK$M HK$M
The Company and its subsidiary companies
-
Hong Kong profits tax 38 32
-
Overseas taxation 133 167
-
Deferred taxation 45 (9)
-
Over provision for prior years (49) (114)
167 76
Associated companies
-
Hong Kong profits tax 22 20
-
Overseas taxation 13 14
202 110
NOTES TO THE ACCOUNTS
-
PROFIT AND LOSS ACCOUNT