182 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
27 PROFIT BEFORE TAX
(cont’d)
The Group
The Company
Note
2014
$’000
2013
$’000
2014
$’000
2013
$’000
Restated
(d) Finance costs
Interest costs paid and payable
- on bank loans and overdrafts
200,259
224,100
271
–
- on debt securities
136,553
132,866
–
–
- to non-controlling interests
6,529
4,961
–
–
Convertible bonds
- interest expense
88,420
107,620
81,772
97,833
- amortisation of bond discount
44,191
62,207
40,799
56,771
- accretion of bond premium
2,352
6,782
2,352
6,782
Derivative mnancial instruments
1,331
(1,751)
–
–
Others
44,054
54,104
512
1,867
Total borrowing costs
523,689
590,889
125,706
163,253
Less
Borrowing costs capitalised in
- investment properties
5(d)
(39,706)
(53,899)
–
–
- development properties for sale
11(f)
(44,510)
(55,313)
–
–
(84,216)
(109,212)
–
–
439,473
481,677
125,706
163,253
28 TAX EXPENSE
The Group
The Company
2014
$’000
2013
$’000
2014
$’000
2013
$’000
Restated
Current tax expense
- Based on current year’s results
237,584
331,105
555
504
- Over provision in respect of prior years
(2,953)
(53,576)
–
–
- Group relief
(1,447)
(600)
205
(1,421)
233,184
276,929
760
(917)
Deferred tax expense
- Origination and reversal of temporary differences
40,468
(61,606)
(6,822)
(21,689)
- Over provision in respect of prior years
(6,744)
(10,185)
–
–
33,724
(71,791)
(6,822)
(21,689)
Total
266,908
205,138
(6,062)
(22,606)
