Experian 2008 Annual Report Download - page 118
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116 Experian Annual Report 2008
31. Deferred tax (continued)
(c) Deferred tax liabilities
Share option Other
Property Accelerated and award temporary
valuations depreciation Intangibles schemes Tax losses differences To t a l
US$m US$m US$m US$m US$m US$m US$m
At 1 April 2007 5 34 70 1 5 154 269
Differences on exchange – – 12 – – 1 13
Income statement charge/(credit) – 1 (18) – (1) 43 25
Business combinations – – 120 – – (1) 119
Tax charged to equity – – – – – 5 5
Transfers – 2 – – – (26) (24)
At 31 March 2008 5 37 184 1 4 176 407
Deferred tax assets are recognised in respect of tax losses carried forward and other temporary differences to the extent that
the realisation of the related tax benefit through future taxable profits is probable.
The Group did not recognise deferred tax assets of US$32m (2007: US$19m) in respect of losses that can be carried forward
against future taxable income. In addition the Group did not recognise deferred tax assets of US$25m (2007: US$22m) in
respect of capital losses that can be carried forward against future taxable gains. These losses are available indefinitely.
Deferred tax liabilities of US$2,004m (2007: US$2,187m) have not been recognised for the withholding tax and other taxes that
would be payable on the unremitted earnings of certain subsidiaries. As the earnings are continually reinvested by the Group,
no tax is expected to be payable on them in the foreseeable future.
At the balance sheet date there were deferred tax assets recoverable within the next twelve months of US$47m (2007:
US$120m) and deferred tax liabilities payable within the next twelve months of US$1m (2007: US$10m).
32. Reconciliation of movements in total equity
Attributable Equity
Number of Share Share Retained Other to equity minority To t a l
shares capital premium earnings reserves holders interests equity
Year ended 31 March 2008 m US$m US$m US$m US$m US$m US$m US$m
At 1 April 2007 1,022.3 102 1,435 16,341 (15,773) 2,105 2 2,107
Profit for the financial year – – – 437 – 437 15 452
Net income recognised directly in
equity for the financial year – – – (2) 89 87 – 87
Employee share option schemes:
– value of employee services – – – 65 – 65 – 65
– proceeds from shares issued 1.1 – 7 – – 7 – 7
Exercise of share options – – – (3) 37 34 – 34
Liability on put option over minority interests – – – (591) – (591) – (591)
Minority interest arising on business combinations – – – – – – 155 155
Purchase of own shares by employee trusts – – – – (6) (6) – (6)
Equity dividends paid during the year (note 14) – – – (182) – (182) – (182)
Dividends paid to minority shareholders – – – – – – (11) (11)
At 31 March 2008 1,023.4 102 1,442 16,065 (15,653) 1,956 161 2,117
Notes to the Group financial statements continued