Telstra 2009 Annual Report Download - page 101

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86
Telstra Corporation Limited and controlled entities
(i) The foreign currency translation reserve is used to record exchange
differences arising from the conversion of the non-Australian
controlled entities’ financial statements into Australian dollars. This
reserve is also used to record our percentage share of exchange
differences arising from equity accounting our non-Australian
investments in jointly controlled and associated entities.
(ii) The cash flow hedging reserve represents, where a hedge qualifies
for hedge accounting, the effective portion of gains or losses on
remeasuring the fair value of the hedge instrument. These gains or
losses are transferred to the income statement when the hedged item
affects income, or in the case of forecast transactions, are included in
the measurement of the initial cost of property, plant and equipment
or inventory.
(iii) The consolidation fair value reserve represents our share of the fair
value adjustments to TelstraClear Limited net assets upon acquisition
of a controlling interest. The reserve balance is amortised over the
useful life of the underlying revalued assets.
(iv) The general reserve represents other items we have taken directly
to equity.
Statement of Changes in Equity
for the year ended 30 June 2009
Telstra Group
Reserves
Foreign Cash Consolid-
currency flow ation General
Share translation hedging fair value reserve Retained Minority
capital (i) (ii) (iii) (iv) profits interests Total
$m $m $m $m $m $m $m $m
Balance at 1 July 2007. . . . . . . . . . 5,611 (325) 37 26 4 6,976 251 12,580
- total comprehensive income for the year - (273) 127 - - 3,387 - 3,241
- dividends . . . . . . . . . . . . . . . . . - - - - - (3,476) (43) (3,519)
- minority interest on acquisitions. . . ------2020
- transfers to retained profits . . . . . . - - - (6) - 6 - -
- amounts repaid on share loans provided
to employees. . . . . . . . . . . . . . . . 15------15
- prior year labour expense settled in
equity . . . . . . . . . . . . . . . . . . . . 9------9
- additional shares purchased . . . . .(129)------(129)
- share-based payments . . . . . . . . . 28 - - - - - - 28
Balance at 30 June 2008. . . . . . . . . 5,534 (598) 164 20 4 6,893 228 12,245
- total comprehensive income for the year - 214 (71) - - 3,690 26 3,859
- dividends . . . . . . . . . . . . . . . . . -----(3,474) (39) (3,513)
- minority interest on acquisitions . . . - - - - - - 48 48
- transfers to retained profits . . . . . . ---(6) - 6 - -
- amounts repaid on share loans provided
to employees. . . . . . . . . . . . . . . . 11 - - - - - - 11
- prior year labour expense settled in
equity . . . . . . . . . . . . . . . . . . . . 8 - - - - - - 8
- share-based payments . . . . . . . . . 23 - - - - - - 23
Balance at 30 June 2009. . . . . . . . . 5,576 (384) 93 14 47,115 263 12,681