Ryanair 2005 Annual Report Download - page 79

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March 31, March 31,
2005 2004
(b) Net income under US GAAP 000 000
Profit for financial year as reported in the consolidated profit and loss account
and in accordance with Irish and UK GAAP 266,741 206,611
Adjustments
Pensions (502) 89
Purchase Accounting Adjustment 11,925 -
Amortisation of goodwill 2,125 2,342
Capitalised interest regarding aircraft acquisition programme 5,445 7,213
Darley Investments Limited 88 88
Taxation - effect of above adjustments (2,408) (913)
Net income in accordance with US GAAP 283,414 215,430
(c) Shareholders’ equity
Shareholders’ equity as reported in the consolidated balance sheet
and in accordance with Irish and UK GAAP 1,727,411 1,455,288
Adjustments
Pension 2,698 3,200
Purchase Accounting Adjustment 11,925 -
Amortisation of goodwill 4,467 2,342
Capitalised interest regarding aircraft acquisition programme 22,947 17,502
Darley Investments Limited (63) (151)
Minimum pension liability (net of tax) (i) (6,496) (2,631)
Unrealised (losses) on derivative financial instruments (net of tax) (ii) (128,074) (116,681)
Tax effect of adjustments (excluding pension and derivative adjustments) (4,996) (2,588)
Shareholders’ equity as adjusted to accord with US GAAP 1,629,819 1,356,281
Opening shareholders’ equity under US GAAP 1,356,281 1,177,187
Comprehensive income
Minimum pension liability (net of tax) (3,865) 25
Unrealised (losses) on derivative financial instruments (net of tax) (11,393) (43,310)
Net income in accordance with US GAAP 283,414 215,430
Total comprehensive income 268,156 172,145
Stock issued for cash 5,382 6,949
Closing shareholders’ equity under US GAAP 1,629,819 1,356,281
(i) Minimum pension liability is stated net of tax of 928,000 (2004: 375,800)
(ii) Unrealised losses on derivative financial instruments are net of tax of 18.3m (2004: 16.7m)
(Continued)
Summary of differences between Irish, United Kingdom and
United States generally accepted accounting principles 69
ANNUAL REPORT & FINANCIAL STATEMENTS 2005