ST Engineering Annual Report 2020

Group Note 2020 2019 $’000 $’000 Profit after taxation 525,623 592,674 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Defined benefit plan remeasurements (48,789) (46,150) Net fair value changes on equity investments at FVOCI 338 182 (48,451) (45,968) Items that are or may be reclassified subsequently to profit or loss: Net fair value changes of cash flow hedges reclassified to income statement 22,495 3,680 Effective portion of changes in fair value of cash flow hedges 18,905 (34,897) Share of net fair value changes on cash flow hedges of joint ventures 763 (5,379) Foreign currency translation differences 44,090 (48,333) Share of foreign currency translation differences of associates and joint ventures 1,819 (7,371) Reserves released on disposal of subsidiaries and a joint venture 121 2,722 88,193 (89,578) Other comprehensive income/(loss) for the year, net of tax 39,742 (135,546) Total comprehensive income for the year, net of tax 565,365 457,128 Total comprehensive income attributable to: Shareholders of the Company 547,678 459,759 Non-controlling interests F3 17,687 (2,631) 565,365 457,128 The accompanying notes are an integral part of the financial statements. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS) 14 9 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT