Air New Zealand 2011 Annual Report Download - page 6

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The accompanying accounting policies and notes form part of these financial statements.
NOTES
GROUP
2011
$M
GROUP
2010
$M
COMPANY
2011
$M
COMPANY
2010
$M
Issued Capital
Balance at the beginning of the year 2,252 2,237 2,260 2,245
Shares issued 22 14 12 14 12
Equity-settled share-based payments 22 3 3 3 3
Balance at the end of the year 2,269 2,252 2,277 2,260
Cash Flow Hedge Reserve
Balance at the beginning of the year (18) 47 (16) 47
Changes in fair value of cash flow hedges (185) (59) (204) (56)
Transfers to net profit ("Fuel") (63) (34) (63) (34)
Transfers to net profit ("Foreign exchange (losses)/gains") 127 1 129 1
Transfers to asset carrying value 121 (1) 121 (1)
Taxation on above reserve movements (2) 28 3 27
Balance at the end of the year 18 (20) (18) (30) (16)
Investment Revaluation Reserve
Balance at the beginning of the year - - - -
Changes in fair value of investment in quoted equity instruments 12 (81) - - -
Balance at the end of the year (81) - - -
Foreign Currency Translation Reserve
Balance at the beginning of the year (8) (7) - -
Net translation loss on investment in foreign operation - (1) - -
Taxation on above reserve movements (2) - - -
Balance at the end of the year (10) (8) - -
Retained Deficit
Balance at the beginning of the year (660) (672) (1,849) (1,734)
Net profit/(loss) for the year 81 82 223 (45)
Dividends on Ordinary Shares 20 (75) (70) (75) (70)
Balance at the end of the year (654) (660) (1,701) (1,849)
Total Equity at the End of the Year 1,504 1,566 546 395
Total Equity
Balance at the beginning of the year 1,566 1,605 395 558
Shares issued 22 14 12 14 12
Equity-settled share-based payments 22 3 3 3 3
Dividends on Ordinary Shares 20 (75) (70) (75) (70)
Total comprehensive income/(loss) for the year, net of tax (4) 16 209 (108)
Balance at the End of the Year 1,504 1,566 546 395
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR TO 30 JUNE 2011