Singapore Airlines 2012 Annual Report Download - page 147
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145ANNUAL REPORT 2011/2012
Notes to the Financial Statements
31 March 2012
18 Deferred Taxation (in $ million)
The Group The Company
Statement of Statement of
financial position Profit and loss financial position
31 March 31 March
2012 2011 2011-12 2010-11 2012 2011
The deferred taxation arises as a result of:
Deferred tax liabilities
Differences in depreciation 1,981.1 2,142.2 (161.1) (173.5) 1,638.4 1,777.0
Revaluation of fuel hedging
contracts to fair value 7.9 6.4 - - 6.6 5.4
Revaluation of currency hedging
contracts to fair value 2.8 0.8 - - 1.9 -
Revaluation of available-for-sale
financial assets to fair value 0.3 0.6 - - - -
Other temporary differences 113.0 112.6 0.4 33.1 106.4 104.3
Gross deferred tax liabilities 2,105.1 2,262.6 (160.7) (140.4) 1,753.3 1,886.7
Deferred tax assets
Unabsorbed capital allowances
and tax losses (7.8) (0.9) (6.9) 16.2 - -
Benefits from previously
unrecognised tax losses - - - (2.4) - -
Revaluation of fuel hedging
contracts to fair value (0.1) (0.9) - - (0.1) (0.9)
Revaluation of currency hedging
contracts to fair value (2.7) (10.0) - - (2.1) (8.4)
Revaluation of interest rate cap
contracts to fair value (8.6) (8.0) - - (8.6) (8.0)
Revaluation of available-for-sale
financial assets to fair value (0.1) - - - (0.1) -
Other deferred tax assets (56.7) (61.7) 5.0 1.4 (47.6) (55.3)
Gross deferred tax assets (76.0) (81.5) (1.9) 15.2 (58.5) (72.6)
Net deferred tax liabilities 2,029.1 2,181.1 1,694.8 1,814.1
Deferred tax credited to profit and loss (162.6) (125.2)
Deferred tax charged to equity 10.6 7.3 9.5 4.6