Lenovo 2014 Annual Report Download - page 160

Download and view the complete annual report

Please find page 160 of the 2014 Lenovo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 199

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199

158 Lenovo Group Limited 2013/14 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
9 Taxation
(continued)
The tax credit/(charge) relating to components of other comprehensive income is as follows:
2014 2013
Before tax Tax credit After tax Before tax Tax charge After tax
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Fair value change on
available-for-sale financial
assets (2,288) –(2,288) (4,057) –(4,057)
Investment revaluation reserve
reclassified to consolidated
income statement on
disposal of an available-for-
sale financial asset (20,526) –(20,526) – – –
Fair value change on
cash flow hedges (41,389) 3,101 (38,288) 19,798 (26) 19,772
Remeasurements of post
employment benefit
obligations 3,988 189 4,177 (17,174) (1,632) (18,806)
Exchange reserve reclassified to
consolidated income
statement on disposal of
a subsidiary 1,250 –1,250 – – –
Currency translation differences (69,781) –(69,781) (118,602) –(118,602)
Other comprehensive income (128,746) 3,290 (125,456) (120,035) (1,658) (121,693)
Current tax ––
Deferred tax (Note 21) 3,290 (1,658)
3,290 (1,658)
10 Employee benefit costs
2014 2013
US$’000 US$’000
Wages and salaries 1,868,018 1,665,223
Social security costs 152,371 148,311
Long-term incentive awards granted (Notes 30(a)) 80,274 77,724
Pension costs
– Defined contribution plans 129,813 107,847
– Defined benefit plans (Note 36) 21,799 46,601
Others 493,578 313,887
2,745,853 2,359,593
The Group contributes to respective local municipal government retirement schemes which are available to all qualified
employees in the Chinese Mainland. Contributions to these schemes are calculated with reference to the monthly average
salaries as set out by the local municipal government.
The Group participates in various defined contribution schemes, either voluntary or mandatory, for all qualified employees. The
assets of those defined contribution schemes are held separately from those of the Group in independently administered funds.
The Group also contributes to certain defined benefit pension schemes, details of which are set out in Note 36.