Experian 2013 Annual Report Download - page 153
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Business review Business overview Governance Financial statements
40. Called up share capital and share premium account
Called up share capital of US$102m (2012: US$102m) comprises the nominal value of the Company’s issued share capital. Further details
relating to the share capital at the balance sheet dates, together with details of ordinary shares issued during the year and since 31 March 2013,
are contained in note N to the parent company financial statements.
The share premium account of US$1,480m (2012: US$1,471m) comprises the amount received in excess of the nominal value of the shares
issued by way of (i) the share offer in October 2006, net of expenses, and (ii) the subsequent issue of ordinary shares in connection with
employee share incentive plans. Movements in the current and prior year are summarised in the Group statement of changes in total equity.
The difference between the amounts shown in the Group and parent company financial statements in respect of called up share capital and
the share premium account arose due to the translation of the sterling amounts into US dollars at the different exchange rates on the different
translation dates. The differences for share capital and the share premium account, with the larger numbers being reported in the Group
financial statements, are US$23m and US$329m respectively at both balance sheet dates.
41. Retained earnings
Retained earnings comprise net profits retained in the Group after the payment of equity dividends. There are no significant statutory,
contractual or exchange control restrictions on distributions by Group undertakings.
The movements in retained earnings in the year ended 31 March 2013 include the following amounts recognised directly as other
comprehensive income. These items are net of related tax with a full analysis of the pre-tax and post-tax amounts given in note 18.
2013
US$m
2012
US$m
Actuarial (losses)/gains on defined benefit pension plans (48) 7
Fair value gains on available-for-sale financial assets 3 –
(45) 7
As indicated in the Group statement of changes in total equity, in the year ended 31 March 2013, a tax credit of US$15m (2012: US$20m) was
recognised directly in equity within the retained earnings reserve on transactions with owners. This relates to employee share incentive plans
and comprises a current tax credit of US$21m (2012: US$15m) and a deferred tax charge of US$6m (2012: credit of US$5m). A further deferred
tax credit of US$462m has been recognised in equity in the year ended 31 March 2013 in respect of the acquisition of the additional interest in
Serasa.
42. Other reserves
(a) Movements in other reserves
Merger
reserve
US$m
Hedging
reserve
US$m
Translation
reserve
US$m
Own
shares
reserve
US$m
Total
other
reserves
US$m
At 1 April 2012 (15,682) 11 12 (492) (16,151)
Purchase of own shares by employee trusts – – – (221) (221)
Exercise of share awards and options – – – 148 148
Currency translation losses recognised in other comprehensive income – – (23) – (23)
At 31 March 2013 (15,682) 11 (11) (565) (16,247)
Merger
reserve
US$m
Hedging
reserve
US$m
Translation
reserve
US$m
Own
shares
reserve
US$m
Total
other
reserves
US$m
At 1 April 2011 (15,682) 11 60 (434) (16,045)
Purchase of own shares by employee trusts – – – (224) (224)
Exercise of share awards and options – – – 166 166
Currency translation losses recognised in other comprehensive income – – (48) – (48)
At 31 March 2012 (15,682) 11 12 (492) (16,151)