27. Reconciliation of movements in equity
|
Share capital
£m |
|
Share premium
£m |
|
Employee Benefit Trust shares
£m |
|
Capital redemption reserve
£m |
|
Retained earnings
£m |
|
Foreign currency translation reserve
£m |
|
Net unrealised gains reserve
£m |
|
Total equity
£m |
|
Minority interests
£m |
|
Total
£m |
| At 1 January 2007 |
12.3 |
|
308.1 |
|
– |
|
1.7 |
|
4.0 |
|
(0.4) |
|
– |
|
325.7 |
|
0.1 |
|
325.8 |
| Total recognised income and expense for the year |
– |
|
– |
|
– |
|
– |
|
188.2 |
|
1.1 |
|
4.0 |
|
193.3 |
|
– |
|
193.3 |
| Share based payment |
– |
|
– |
|
– |
|
– |
|
8.6 |
|
– |
|
– |
|
8.6 |
|
– |
|
8.6 |
| Purchase of own shares – cancelled |
(0.1) |
|
– |
|
– |
|
0.1 |
|
(43.6) |
|
– |
|
– |
|
(43.6) |
|
– |
|
(43.6) |
| Transferred to goodwill on purchase of minority interest |
– |
|
– |
|
– |
|
– |
|
– |
|
– |
|
– |
|
– |
|
(0.1) |
|
(0.1) |
| Share transaction costs |
– |
|
– |
|
– |
|
– |
|
(0.5) |
|
– |
|
– |
|
(0.5) |
|
– |
|
(0.5) |
| Shares issued |
0.4 |
|
66.8 |
|
– |
|
– |
|
– |
|
– |
|
– |
|
67.2 |
|
– |
|
67.2 |
| Treasury shares purchased |
– |
|
– |
|
– |
|
– |
|
(0.3) |
|
– |
|
– |
|
(0.3) |
|
– |
|
(0.3) |
| Equity dividends paid |
– |
|
– |
|
– |
|
– |
|
(218.6) |
|
– |
|
– |
|
(218.6) |
|
– |
|
(218.6) |
| At 1 January 2008 |
12.6 |
|
374.9 |
|
– |
|
1.8 |
|
(62.2) |
|
0.7 |
|
4.0 |
|
331.8 |
|
– |
|
331.8 |
| Total recognised income and expense for the year |
– |
|
– |
|
– |
|
– |
|
146.6 |
|
5.9 |
|
14.5 |
|
167.0 |
|
– |
|
167.0 |
| Share based payment |
– |
|
– |
|
– |
|
– |
|
9.2 |
|
– |
|
– |
|
9.2 |
|
– |
|
9.2 |
| Share transaction costs |
– |
|
– |
|
– |
|
– |
|
(0.4) |
|
– |
|
– |
|
(0.4) |
|
– |
|
(0.4) |
| Shares issued |
0.2 |
|
35.5 |
|
– |
|
– |
|
– |
|
– |
|
– |
|
35.7 |
|
– |
|
35.7 |
| Employee benefit trust shares purchased |
– |
|
– |
|
(0.2) |
|
– |
|
(68.2) |
|
– |
|
– |
|
(68.4) |
|
– |
|
(68.4) |
| Equity dividends paid |
– |
|
– |
|
– |
|
– |
|
(78.0) |
|
– |
|
– |
|
(78.0) |
|
– |
|
(78.0) |
| At 31 December 2008 |
12.8 |
|
410.4 |
|
(0.2) |
|
1.8 |
|
(53.0) |
|
6.6 |
|
18.5 |
|
396.9 |
|
– |
|
396.9 |
Share capital – The balance classified as share capital is the nominal proceeds on issue of the Company’s equity share capital, comprising 21/15p ordinary shares.
Share premium – The amount paid to the Company by shareholders, in cash or other consideration, over and above the nominal value of shares issued to them.
Employee Benefit Trust shares – Shares that have been bought back by the Company, which are available for retirement or resale; shares held in the Employee Benefit Trust have no voting rights and do not have entitlement to a dividend.
Capital redemption reserve – The Company can redeem shares by repaying the nominal value to the shareholder, whereupon the shares are cancelled. Redemption must be from distributable profits.
Foreign currency translation reserve – Gains or losses resulting from the process of expressing amounts denominated or measured in 1 currency in terms of another currency by use of the exchange rate between the 2 currencies. This process is required to consolidate the financial statements of foreign affiliates into the total Group financial statements and to recognise the conversion of foreign currency or the settlement of a receivable or payable denominated in foreign currency at a rate different from that at which the item is recorded.
Net unrealised gains reserve – This reserve records the portion of the gain or loss on a hedging instrument in a cash flow hedge that is determined to be an effective hedge. Also recorded here are fair value changes on available for sale investments.
Retained earnings – Net profits kept to accumulate in the Group after dividends are paid and retained in the business as working capital.