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Cathay Pacific Airways Limited 2004 Annual Report 47
8. EARNINGS PER SHARE
Basic earnings per share and diluted earnings per share are calculated by dividing the profit attributable to shareholders of HK$4,417
million (2003: HK$1,303 million) by the daily weighted average number of shares in issue throughout the year of 3,362 million (2003:
3,338 million) shares and 3,379 million (2003: 3,357 million) shares respectively with the latter adjusted for the effects of the
share options.
2004 2003
Million Million
Weighted average number of ordinary shares used in calculating basic
earnings per share 3,362 3,338
Deemed issue of ordinary shares for no consideration 17 19
Weighted average number of ordinary shares used in calculating diluted
earnings per share 3,379 3,357
9. FIXED ASSETS
Aircraft and Other
related equipment equipment Properties
Owned Leased Owned Leased Owned Total
HK$M HK$M HK$M HK$M HK$M HK$M
Group
Cost
At 1st January 2004 24,760 44,109 2,328 547 6,292 78,036
Exchange differences 2 – 3 – 5 10
Additions 3,798 446 84 – 1 4,329
Disposals (377 ) – (111 ) – (9 ) (497 )
Transfers 1,374 (1,374 ) – – – –
At 31st December 2004 29,557 43,181 2,304 547 6,289 81,878
Accumulated depreciation
At 1st January 2004 11,591 12,055 1,517 234 1,282 26,679
Exchange differences – – 2 – 2 4
Charge for the year 1,600 1,831 147 24 199 3,801
Disposals (302 ) – (110 ) – (2 ) (414 )
Transfers 944 (944 ) – – – –
At 31st December 2004 13,833 12,942 1,556 258 1,481 30,070
Net book value
At 31st December 2004 15,724 30,239 748 289 4,808 51,808
At 1st January 2004 13,169 32,054 811 313 5,010 51,357
Company
Cost
At 1st January 2004 19,054 46,007 850 547 408 66,866
Additions 1,641 – 45 – – 1,686
Disposals (224 ) – (108 ) – (9 ) (341 )
Transfers 1,769 (1,769 ) – – – –
At 31st December 2004 22,240 44,238 787 547 399 68,211
Accumulated depreciation
At 1st January 2004 9,232 12,774 718 234 320 23,278
Charge for the year 1,468 1,918 57 24 23 3,490
Disposals (149 ) – (107 ) – (2 ) (258 )
Transfers 944 (944 ) – – – –
At 31st December 2004 11,495 13,748 668 258 341 26,510
Net book value
At 31st December 2004 10,745 30,490 119 289 58 41,701
At 1st January 2004 9,822 33,233 132 313 88 43,588
Notes to the Accounts – Profit and Loss Account / Balance Sheet