Singapore Airlines 2016 Annual Report Download - page 156
Download and view the complete annual report
Please find page 156 of the 2016 Singapore Airlines 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.-
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
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
Notes to the Financial Statements
31 March 2016
18 Deferred Taxation (in $ million)
The Group The Company
Statement of
financial position
31 March Profit and loss
Statement of
financial position
31 March
2016 2015 FY2015/16 FY2014/15 2016 2015
The deferred taxation arises as a result of:
Deferred tax liabilities
Differences in depreciation 1,909.9 1,857.0 52.9 16.6 1,473.8 1,481.6
Revaluation to fair value
- fuel hedging contracts 0.9 1.5 – – 0.9 1.4
- currency hedging contracts 3.7 21.8 – – 3.7 17.4
- interest rate cap contracts 1.7 – – – – –
- available-for-sale financial assets – 0.4 – – – –
Fair value adjustments on acquisition of a
subsidiary company 13.9 17.2 1.5 2.9 – –
Other temporary differences 35.6 17.4 4.7 (35.5) 16.0 11.6
Gross deferred tax liabilities 1,965.7 1,915.3 59.1 (16.0) 1,494.4 1,512.0
Deferred tax assets
Unabsorbed capital allowances and tax losses (81.1) (82.7) (50.6) (91.5) – –
Revaluation to fair value
- fuel hedging contracts (102.5) (166.4) – – (80.3) (134.1)
- currency hedging contracts (21.4) (10.4) – – (19.6) (9.1)
- interest rate cap contracts (0.1) (2.0) – – (0.1) (2.0)
Actuarial loss on revaluation of defined
benefit plans (1.5) (1.2) – – (1.0) (0.7)
Other temporary differences (77.4) (53.0) (24.7) 14.4 (46.9) (40.6)
Gross deferred tax assets (284.0) (315.7) (75.3) (77.1) (147.9) (186.5)
Net deferred tax liabilities 1,681.7 1,599.6 1,346.5 1,325.5
Deferred tax credited to profit and loss (16.2) (93.1)
Deferred tax charged/(credited) to equity 37.1 (157.1) 30.7 (128.2)
At the end of the reporting period, deferred tax liability of $0.7 million (2015: $0.6 million) has been recognised for taxes that would be payable
on the undistributed earnings of one of the Group’s subsidiary companies.
For the other subsidiary companies of the Group, no deferred tax liability has been recognised as the Group has determined that undistributed
earnings of these subsidiary companies will not be distributed in the foreseeable future. Such temporary dierences for which no deferred tax
liability has been recognised aggregate to $7.1 million (2015: $5.9 million). The deferred tax liability is estimated to be $2.1 million (2015: $1.8 million).
Singapore Airlines154
FINANCIAL