EasyJet 2008 Annual Report Download - page 68

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20 Shareholders’ funds
Share Share Hedging Translation Retained
capital premium reserve reserve earnings Total
£million £million £million £million £million £million
At 1 October 2007 104.8 633.9 (13.7) – 427.4 1,152.4
Profit for the year ––––83.2 83.2
Cash flow hedges
Fair value gains – – 143.6 – – 143.6
Transfers to income statement – – (87.6) – – (87.6)
Transfers to property, plant and equipment – – (0.3) – – (0.3)
Related tax (note 5b) – – (14.4) – – (14.4)
Share incentive schemes
Proceeds from shares issued 0.9 6.3 – – (0.3) 6.9
Value of employee services ––––4.24.2
Related tax (note 5b) ––––(5.3) (5.3)
Purchase of own shares (note 18) ––––(4.6) (4.6)
Currency translation differences – – – 0.1 – 0.1
At 30 September 2008 105.7 640.2 27.6 0.1 504.6 1,278.2
Share Share Hedging Translation Retained
capital premium reserve reserve earnings Total
£million £million £million £million £million £million
At 1 October 2006 102.6 591.4 (9.5) – 298.4 982.9
Profit for the year ––––152.3 152.3
Cash flow hedges
Fair value losses – – (39.7) – – (39.7)
Transfers to income statement – – 34.6 – – 34.6
Transfers to property, plant and equipment – – 1.1 – – 1.1
Related tax (note 5b) – – (0.2) – – (0.2)
Share incentive schemes
Proceeds from shares issued 2.2 42.5 – – (28.2) 16.5
Value of employee services ––––7.57.5
Related tax (note 5b) ––––2.02.0
Purchase of own shares (note 18) ––––(4.6) (4.6)
At 30 September 2007 104.8 633.9 (13.7) – 427.4 1,152.4
In prior years, when share options were exercised, the option holder paid the option price. The subsidiary employing the option holder paid the difference
(“spread”) between the option price and market value at the time the option was exercised. This applied to all subsidiaries regardless of where they were
incorporated. The market value of the shares so issued was credited to share capital (25 pence per share) and share premium. The spread was debited to
retained earnings. During the year ended 30 September 2007, payment of spread was discontinued for subsidiaries incorporated in the United Kingdom,
but continues for subsidiaries incorporated elsewhere.
easyJet plc
Annual report and accounts 2008
Notes to the
financial statements
continued
66