Cathay Pacific 2014 Annual Report Download - page 61

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ANNUAL REPORT 2014
59Notes to the Financial Statements Statement of Profit or Loss and
Other Comprehensive Income
5. Taxation (continued)
A reconciliation between tax charge and accounting profit at applicable tax rates is as follows:
2014
HK$M
2013
HK$M
Consolidated profit before taxation 4,049 3,579
Notional tax calculated at Hong Kong profits tax rate of 16.5% (2013: 16.5%) (668) (591)
Expenses not deductible for tax purposes (122) (287)
Tax (under)/over provisions arising from prior years (20) 36
Effect of different tax rates in other countries 157 216
Tax losses not recognised (57) (80)
Income not subject to tax 111 31
Tax charge (599) (675)
Further information on deferred taxation is shown in note 18 to the financial statements.
6. Profit attributable to the shareholders of Cathay Pacific
Of the profit attributable to the shareholders of Cathay Pacific, a profit of HK$4,586 million (2013: HK$3,719 million) has
been dealt with in the financial statements of the Company.
7. Other comprehensive income
2014
HK$M
2013
HK$M
Defined benefit plans
 – remeasurements recognised during the year (356) 1,119
 – deferred taxation (note 18) 40 (122)
Cash flow hedges
 – recognised during the year (14,385) 4,147
 – transferred to profit or loss (note 24) 427 (664)
 – transferred to intangible assets (note 11) –66
 – deferred tax recognised (note 18) 1,490 (379)
Revaluation of available-for-sale financial assets
 – recognised during the year 67 53
Share of other comprehensive income of associates
 – recognised during the year (52) 78
 – reclassified to profit or loss –11
Exchange differences on translation of foreign operations
 – recognised during the year (525) 525
 – reclassified to profit or loss (2) (34)
Other comprehensive income for the year (13,296) 4,800