110Woodside Petroleum Ltd|Annual Report 2018
A.2 Finance costs
 
USm USm
Interest on interest-bearing liabilities  
Accretion charge  
Other finance costs  
Less: Finance costs capitalised against qualifying
assets () ()
 
A.3 Dividends paid and proposed
Woodside Petroleum Ltd, the parent entity, paid and proposed
dividends set out below:
 
USm USm
(a) Dividends paid during the financial year
Prior year fully franked final dividend US$0.49,
paid on 22 March 2018 (2017: US$0.49, paid on 29
March 2017)  
Current year fully franked interim dividend
US$0.53 paid on 20 September 2018 (2017:
US$0.49, paid on 21 September 2017)  
 
(b) Dividend declared subsequent to the
reporting period (not recorded as a liability)
Final dividend US$0.91 (2017: US$0.49)  
(c) Other information
Franking credits available for the subsequent
periods  
Current year dividends per share (US cents)  
A.4 Earnings per share

Restated

Profit attributable to equity holders of the parent
(US$m)  
Weighted average number of shares on issue  
Basic and diluted earnings per share (US cents)  
Earnings per share is calculated by dividing net profit for the
year attributable to ordinary equity holders of the parent by the
weighted average number of ordinary shares on issue during the
year. The weighted average number of shares makes allowance
for shares reserved for employee share plans.
During the period, the Company completed an equity raising of
93,706,646 shares at a discounted price of A$27.00 per share. As
a result of the new shares issued, the weighted average number
of ordinary shares to calculate EPS was adjusted by a theoretical
ex-rights price factor. The adjustment factor of 1.03 was used to
restate the weighted average number of ordinary shares for the
EPS calculation for all periods prior to the equity raising. Equity
rights under employee share plans were adjusted in order to
maintain value equivalence, resulting in an additional 53,656 rights
under the Woodside Equity Plan and 24,079 rights under the
Executive Incentive Plan.
Performance rights of 9,702,925 (2017: 10,006,241) are considered
to be contingently issuable and have not been allowed for in the
diluted earnings per share calculation.
There have been no transactions involving ordinary shares
between the reporting date and the date of completion of these
financial statements.
A.5 Taxes

Restated

USm USm
(a) Tax expense comprises
PRRT
Current tax benefit () ()
Deferred tax benefit () ()
PRRT benefit () ()
Income tax
Current year
Current tax expense  
Deferred tax expense  
Adjustment to prior years
Current tax benefit -()
Deferred tax (benefit)/expense () 
Income tax expense  
Tax expense  
(b) Reconciliation of income tax expense
Profit before tax  
PRRT benefit  
Profit before income tax  
Income tax expense calculated at 30%  
Non-deductible items () 
Foreign expenditure not brought to account  
Adjustment to prior years () 
Foreign exchange impact on tax expense () 
Income tax expense  
(c) Reconciliation of PRRT benefit
Profit before tax  
Non-PRRT assessable profits () ()
PRRT projects profit before tax  
PRRT benefit calculated at 40%  
Augmentation () ()
Other  
PRRT benefit () ()
(d) Deferred tax income statement reconciliation
PRRT
Production and growth assets  ()
Augmentation for current year () ()
Provisions () 
Other () ()
PRRT deferred tax benefit () ()
Income tax
Oil and gas properties  
Exploration and evaluation assets  
Provisions () 
PRRT liabilities  
Unused tax losses and tax credits  ()
Other () ()
Income tax deferred tax expense  
Deferred tax expense  
(e) Deferred tax balance sheet reconciliation
Deferred tax assets
PRRT
Production and growth assets  
Augmentation for current year  
Provisions  
Other () ()
 
NOTES TO THE FINANCIAL STATEMENTS A. EARNINGS FOR THE YEAR
for the year ended 31 December 2018