DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD. AND ...

Doosan Heavy Industries & Construction Co., Ltd. and SubsidiariesNotes to the Consolidated Financial StatementsFor the years ended December 31, 2012 and 201131. Income Taxes, Continued(4) The amount of temporary differences related to investment in subsidiaries, associates and joint venturesfor which no deferred tax asset (liability) is recognized as of December 31, 2012 and 2011 are as follows:(In millions of won) 2012 2011Investment in subsidiaries ₩ 192,177 150,919Investment in associate or joint venture 39,296 (320,092)₩ 231,473 (169,173)(5) Reconciliation of effective tax rate for the years ended December 31, 2012 and 2011 are as follows:(In millions of won) 2012 2011Profit (loss) before income tax ₩ (12,460) 860,460Income tax using the Controlling Company's statutory tax rate (3,015) 208,231Adjustment for prior periods:- Non-deductible expenses 4,249 13,653- Tax credit (11,170) (11,917)- Other (changes in tax rates, recovery of income taxes, etc) (17,256) (90,691)Income tax expenses (benefit) ₩ (27,192) 119,276Effective tax rate - 13.86%32. Earnings Per Share(1) Basic earnings per share for the years ended December 31, 2012 and 2011 are summarized as follows:(i) Earnings per share of continuing operation(In won, except share information) 2012 2011Adjusted profit for the year (*1) ₩ 38,044,983,957 752,042,574,985Weighted-average number of ordinary shares outstanding (*2) 89,035,985 89,719,487Earnings per share ₩ 427 8,382(ii) Earnings per share of owners' equity of the Controlling Company(In won, except share information) 2012 2011Adjusted profit for the year ₩ 38,044,983,957 274,781,302,404Weighted-average number of ordinary shares outstanding (*2) 89,035,985 89,719,487Earnings per share ₩ 427 3,063(*1) Attribution of continuing operation(In won, except share information) 2012 2011Owners of the Controlling Company ₩ 38,044,983,957 752,042,574,985Non-controlling interests (23,312,852,617) (10,858,875,120)Profit from continuing operations ₩ 14,732,131,340 741,183,699,86575