Trinidad Cement Limited
Annual Report 2012
62
Notes to the Consolidated Financial Statements (continued)
For the year ended 31 December, 2012
(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)
6. Taxation
(continued)
2012
2011
$
$
c) Movement in deferred tax net balance:
Net balance at 1 January
54,981
(19,781)
Exchange rate and other adjustment
(1,399)
(154)
Charge to hedging reserve
–
(7,661)
(Charge)/credit to earnings
(3,044)
82,577
Net balance at 31 December (Note 6 (d))
50,538
54,981
d) Components of the deferred tax assets/(liabilities) are as follows:
Deferred tax liabilities:
Property, plant and equipment
(294,850)
(312,872)
Pension plan assets
(57,461)
(56,821)
Others
(2,294)
–
Balance at 31 December
(354,605)
(369,693)
Deferred tax assets:
Tax losses carry forward
274,333
327,974
Capital allowances carry forward
40,111
34,298
Interest accrual
71,690
32,872
Others
19,009
29,530
Balance at 31 December
405,143
424,674
Net deferred tax asset
50,538
54,981
7. Earnings per share
2012
2011
$
$
The following reflects the income and share data used in the
earnings per share computation:
Net loss for the year attributable to equity holders of the Parent
- continuing operations
(319,949)
(331,997)
Net profit/(loss) for the year attributable to equity holders of the Parent
- discontinued operations
–
6,682
Net loss for the year attributable to equity holders - total Group
(319,949)
(325,315)
Weighted average number of ordinary shares issued (thousands of units)
245,869
245,869
Basic loss per share – continuing operations (expressed in $ per share)
($1.30)
($1.35)
Basic earnings/(loss) per share – discontinued operations (expressed in $ per share)
$0.00
$0.03
Basic loss per share – total (expressed in $ per share)
($1.30)
($1.32)
The balance of the TCL Employee Share Ownership Plan relating to the cost of unallocated shares held by the Plan is
presented as a separate component in equity.The weighted average number of unallocated shares of 3.896million (2011:
3.896million) held by the Plan during the year is deducted in computing the weighted average number of ordinary shares
in issue. The Group has no dilutive potential ordinary shares in issue.
