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88
MARKS AND SPENCER GROUP PLC
FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Ordinary
share
capital
£m
Share
premium
account
£m
Capital
redemption
reserve
£m
Hedging
reserve
£m
Other
reserve¹
£m
Retained
earnings²
£m
Total
£m
Non-
controlling
interest
£m
Total
£m
As at 3 0 M arch 2014 408.1 355.5 2,202.6 (41.8) (6,542.2) 6,325.1 2,707.3 (0.6) 2,706.7
Profi t/(loss) for the year – – – – – 486.5 486.5 (4.8) 481.7
Other comprehensive (expense)/income:
Foreign currency translation – – – (2.0) – (5.5) (7.5) – (7.5)
Remeasurements of retirement
benefi t schemes – – – – – 193.7 193.7 – 193.7
Tax charge on items that will not be reclassifi ed – – – – – (40.2) (40.2) – (40.2)
Cash fl ow hedges and net investment hedges
– fair value movements recognised in other
comprehensive income – – – 210.9 – 10.3 221.2 – 221.2
– reclassifi ed and reported in profi t or loss³ – – – (60.0) – – (60.0) – (60.0)
– amount recognised in inventories – – – (21.6) – – (21.6) – (21.6)
Tax on cash fl ow hedges and net
investment hedges – – – (21.2) – – (21.2) – (21.2)
Other comprehensive income – – – 106.1 – 158.3 264.4 – 264.4
Total comprehensive income/(expense) – – – 106.1 – 644.8 750.9 (4.8) 746.1
Transactions with owners:
Dividends – – – – – (280.7) (280.7) – (280.7)
Transactions with non-controlling shareholders – – – – – – – 4.6 4.6
Shares issued on exercise of employee
share options 3.9 36.9 – – – – 40.8 – 40.8
Purchase of own shares held by
employee trusts – – – – – (24.2) (24.2) – (24.2)
Release of share-based payments – – – – – (1.1) (1.1) – (1.1)
Deferred tax on share schemes – – – – – 6.6 6.6 – 6.6
As at 28 March 2015 412.0 392.4 2,202.6 64.3 (6,542.2) 6,670.5 3,199.6 (0.8) 3,198.8
As at 29 March 2015 412.0 392.4 2,202.6 64.3 (6,542.2) 6,670.5 3,199.6 (0.8) 3,198.8
Profi t/(loss) for the year – – – – – 406.9 406.9 (2.5) 404.4
Other comprehensive (expense)/income:
Foreign currency translation – – – (0.5) – 7.8 7.3 – 7. 3
Remeasurements of retirement
benefi t schemes –––––346.2346.2–346.2
Tax charge on items that will not be reclassifi ed –––––(45.6)(45.6)–(45.6)
Cash fl ow hedges and net investment hedges
– fair value movements recognised in other
comprehensive income – – –(21.8)–(8.3)(30.1)–(30.1)
– reclassifi ed and reported in profi t or loss3– – – (22.1) – – (22.1) – (22.1)
– amount recognised in inventories3–––5.9––5.9–5.9
Tax on cash fl ow hedges and net
investment hedges –––6.5––6.5–6.5
Other comprehensive income/(expense) – – – (32.0) – 300.1268.1 –268.1
Total comprehensive income/(expense) – – – (32.0) – 707.0 675.0 (2.5) 672.5
Transactions with owners:
Dividends –––––(301.7)(301.7)–(301.7)
Transactions with non-controlling shareholders –––––––1.51.5
Shares issued on exercise of employee
share options 1.718.9––––20.6–20.6
Purchase of own shares held by
employee trusts –––––(10.9)(10.9)–(10.9)
Shares purchased in buyback (7.9) – 7.9 – – (150.7) (150.7) – (150.7)
Credit for share-based payments –––––17.217.2–17.2
Deferred tax on share schemes –––––(3.9)(3.9)–(3.9)
As at 2 April 2016 405.8 411.3 2,210.5 32.3 (6,542.2) 6,927.5 3,445.2 (1.8) 3,443.4
1. The ‘Other reserve’ was originally created as part of the capital restructuring that took place in 2002. It represents the di erence between the nominal value of the shares issued prior to
the capital reduction by the Company (being the carrying value of the investment in Marks and Spencer plc) and the share capital, share premium and capital redemption reserve of
Marks and Spencer plc at the date of the transaction.
2. The ‘Retained earnings reserve’ includes a cumulative £4.8m loss (last year £12.6m loss) in the currency reserve.
3. Amounts 'reclassifi ed and reported in profi t or loss' are presented within fi nance costs o setting the revaluation of the hedged bonds (last year £4.4m was presented in cost of sales
and £55.6m in fi nance costs). 'Amount recognised in inventories' includes £(93.7)m included cost of sales for the year and £87.8m (last year £21.6m) that remains in inventory at the
balance sheet date.