UOB Annual Report 2002 - United Overseas Bank

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current
tax liabilities and when the deferred income taxes relate to the same tax authority. The net amounts, determined after appropriate
offsetting, are shown in the balance sheets as follows:
The Group
The Bank
2002 2001 2002 2001
$'000 $'000 $'000 $'000
Deferred tax assets (39,519) (29,218) (2,790) (14,033)
Deferred tax liabilities 26,900 23,539 6,422 874
(12,619) (5,679) 3,632 (13,159)
15 Earnings Per Share
The calculation of basic and diluted earnings per share (“EPS”) is determined based on the following profit attributable to
members divided by the weighted average number of ordinary shares in issue:
The Group
2002 2001
$'000
$'000
Profit for the financial year attributable to members
for computation of basic and diluted EPS 1,064,200 924,579
Number Number
‘000 ‘000
Weighted average number of ordinary shares in issue
for computation of basic EPS 1,571,519 1,195,486
Adjustment for assumed exercise of share options 39 69
Weighted average number of ordinary shares
for computation of diluted EPS 1,571,558 1,195,555
16 Share Capital
(a)
The Group and The Bank
2002 2001
Number of
Number of
Shares
Shares
’000 $’000 ’000 $’000
Ordinary Shares of $1 Each
Authorised 3,000,000 3,000,000 3,000,000 3,000,000
Issued and fully paid:
Balance at 1 January 1,571,109 1,571,109 1,052,451 1,052,451
Shares issued upon exercise of options 494 494 377 377
Shares issued as part consideration for
the acquisition of OUB – – 518,281 518,281
Balance at 31 December 1,571,603 1,571,603 1,571,109 1,571,109
UNITED OVERSEAS BANK 115