Notes to the Financial Statements - SingTel

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Notes to the Financial StatementsFor the financial year ended 31 March 201112.2 Deferred Taxes (Cont’d)Deferred tax assets and liabilities are offset when there is a legally enforceable right to set-off current tax assets againstcurrent tax liabilities, and when deferred income taxes relate to the same fiscal authority.The amounts, determined after appropriate offsetting, are shown in the statements of financial position as follows -GroupCompany2011 2010 2011 2010S$ Mil S$ Mil S$ Mil S$ MilDeferred tax assets 764.0 890.3 - -Deferred tax liabilities (295.3) (294.8) (177.8) (182.8)468.7 595.5 (177.8) (182.8)Deferred tax assets are recognised to the extent that realisation of the related tax benefits through future taxable profitsis probable.As at 31 March 2011, the subsidiaries of the Group had estimated unutilised income tax losses of approximately S$86 million(2010: S$280 million), including S$3.0 million (2010: S$187 million) from the Optus Group, unutilised capital tax losses of S$137million (2010: S$26 million) and unabsorbed capital allowances of approximately S$8.2 million (2010: S$2.1 million).These unutilised income tax losses and unabsorbed capital allowances are available for set-off against future taxable profits,subject to the agreement of the relevant tax authorities and compliance with certain provisions of the income tax regulationsof the respective countries in which the subsidiaries operate. The unutilised capital tax losses are available for set-off againstfuture capital gains of a similar nature subject to compliance with certain statutory tests in Australia.As at the end of the reporting period, the potential tax benefits arising from the following items were not recognised in thefinancial statements due to uncertainty on their recoverability -Group2011 2010S$ Mil S$ MilUnutilised income tax losses and unabsorbed capital allowances 90.6 95.5Unutilised capital tax losses 137.0 25.9140 SINGAPORE TELECOMMUNICATIONS LIMITED AND SUBSIDIARY COMPANIES
Notes to the Financial StatementsFor the financial year ended 31 March 201113. EARNINGS PER SHAREGroup2011 2010’000 ’000Weighted average number of ordinary shares in issue forcalculation of basic earnings per share (1) 15,925,839 15,918,280Adjustment for dilutive effect of share options 5,013 7,055Adjustment for dilutive effect of Share Plan 2004 18,456 44,379Weighted average number of ordinary shares for calculation ofdiluted earnings per share 15,949,308 15,969,714Note:(1) Adjusted to exclude the number of performance shares held by the Trust.‘Basic earnings per share’ is calculated by dividing the Group’s profit attributable to shareholders of the Company by theweighted average number of ordinary shares in issue during the financial year.For ‘Diluted earnings per share’, the weighted average number of ordinary shares in issue included the number of additionalshares outstanding if the potential dilutive ordinary shares arising from the share options and performance shares granted bythe Group were issued. Adjustment is made to earnings for the dilutive effect arising from the associated and joint venturecompanies’ dilutive shares.ANNUAL REPORT 2010/2011 141
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Notes to the Financial Statements - SingTel

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