Experian 2012 Annual Report Download - page 145

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143
Governance Financial statementsBusiness reviewBusiness overview
38. Retained earnings and other reserves (continued)
The merger reserve arose on the demerger in October 2006 and represents the difference between the share capital and share premium of GUS
plc and the nominal value of the share capital of the Company before the share offer in October 2006 and subsequent share issues.
Movements on the hedging reserve and the position at the balance sheet date reflect hedging transactions which are not charged or credited to
the Group income statement, net of related tax.
Movements on the translation reserve and the position at the balance sheet date reflect foreign currency translations since 1 April 2004 which
are not charged or credited to the Group income statement, net of related tax.
The balance on the own shares reserve represents the cost of ordinary shares in the Company and further details of movements are given
below. The difference between the amounts shown in the Group and parent company financial statements in respect of the own shares
reserve arose due to the translation of the sterling amounts into US dollars at the different exchange rates on the different translation dates. The
difference is US$32m at both balance sheet dates, with the larger number being reported in the Group financial statements.
Number of own shares held Cost of own shares held
Year ended 31 March 2012 Tr e asur y
million
Trus t s
million
Total
million
Treasury
US$m
Trus t s
US$m
Total
US$m
At 1 April 2011 30 8 38 334 100 434
Purchase of own shares - 18 18 - 224 224
Exercise of share options and awards - (16) (16) - (166) (166)
Transfers (6) 6 - (60) 60 -
At 31 March 2012 24 16 40 274 218 492
Number of own shares held Cost of own shares held
Year ended 31 March 2011 Treasury
million
Trusts
million
Total
million
Treasury
US$m
Trusts
US$m
Total
US$m
At 1 April 2010 - 11 11 - 125 125
Purchase of own shares 30 6 36 334 61 395
Exercise of share options and awards - (9) (9) - (86) (86)
At 31 March 2011 30 8 38 334 100 434
39. Non-controlling interests
Non-controlling interests of US$159m (2011: US$161m) represents the share of net assets of subsidiary undertakings held outside the Group and
principally relates to the 30% stake in Serasa. Movements in the current and prior year are summarised in the Group statement of changes in
total equity and include currency translation losses of US$16m (2011: gains of US$18m) recognised directly in other comprehensive income.
Obligations for put options in respect of Serasa and other non-controlling interests are reported within other financial liabilities (note 31(a)). The
put and call options associated with the shares held by non-controlling shareholders in Serasa are exercisable for a period of five years from
June 2012 and further details in respect of the valuation of the put option are given in note 8.