Singapore Airlines 2006 Annual Report Download - page 109

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107
Singapore Airlines Annual Report 05/06
15 Deferred Account (in $ million)
The Group The Company
31 March 31 March
2006 2005 2006 2005
Deferred gain on sale and leaseback transactions
– operating leases 301.7 362.9 254.9 356.8
– fi nance leases 47.9 51.7 – –
349.6 414.6 254.9 356.8
16 Deferred Taxation (in $ million)
The Group The Company
Consolidated Consolidated
balance sheet profit and loss Balance sheet
31 March 31 March
2006 2005 2005-06 2004-05 2006 2005
The deferred taxation arises as a result of:
Deferred tax liabilities
Differences in depreciation 2,436.1 2,431.4 4.6 199.6 1,860.6 1,875.0
Revaluation of jet fuel swap/option
contracts to fair value 2.3 – – – 1.8 –
Revaluation of forward currency
contracts to fair value 4.4 – – – 3.5 –
Revaluation of interest rate swap
contracts to fair value 2.3 – – – 2.3 –
Revaluation of available-for-sale
fi nancial assets to fair value 2.3 – – – 1.3 –
Other temporary differences 108.3 116.1 (10.5) 7.0 99.3 109.0
Gross deferred tax liabilities 2,555.7 2,547.5 (5.9) 206.6 1,968.8 1,984.0
Deferred tax assets
Unabsorbed capital allowances
and tax losses (24.7) (45.1) 19.7 44.1 – –
Other deferred tax assets (44.9) (52.3) 1.3 24.1 (18.3) (31.8)
Gross deferred tax assets (69.6) (97.4) 21.0 68.2 (18.3) (31.8)
Net deferred tax liabilities 2,486.1 2,450.1 1,950.5 1,952.2
Deferred tax charged to profi t and loss 15.1 274.8
Deferred tax charged to equity 20.9 – 8.9 –
NOTES TO THE FINANCIAL STATEMENTS
31 March 2006