NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B5 Earnings per share (continued) Diluted earnings per share When calculating diluted earnings per share, the weighted average number of ordinary shares is adjusted for the effect of all dilutive potential ordinary shares. The Group has two categories of dilutive potential ordinary shares from performance share plans and restricted share plans (2021: two categories of dilutive potential ordinary shares from performance share plans and restricted share plans). The weighted average number of ordinary shares adjusted for the dilutive potential shares is as follows: Company 2022 $’000 2021 $’000 Number of shares Weighted average number of ordinary shares (used in the calculation of basic earnings per share) 3,114,900 3,116,952 Adjustment for dilutive potential ordinary shares 20,280 18,464 Weighted average number of ordinary shares (diluted) during the year 3,135,180 3,135,416 B6 Taxation (i) Tax expenses Group 2022 $’000 2021 $’000 Current income tax Current year 165,739 132,116 Overprovision in respect of prior years (1,634) (10,663) 164,105 121,453 Deferred income tax Current year (101,386) (50,927) (Over)/under provision in respect of prior years (9,883) 1,368 Effect of change in tax rates 1,295 (1,258) (109,974) (50,817) 54,131 70,636 154 ST ENGINEERING ANNUAL REPORT 2022
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