Aviva 2014 Annual Report Download - page 191

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Aviva plc Annual report and accounts 2014
187
38 – Retained earnings
This note analyses the movements in the consolidated retained earnings during the year.
2014
£m
2013
£m
Balance at 1 January 2,348 1,389
Profit for the year attributable to equity shareholders 1,569 2,008
Remeasurements of pension schemes 1,662 (674)
Dividends and appropriations (note 16) (551) (538)
Shares issued under equity compensation plans 24 43
Shares distributed by employee trusts (18) (28)
Realised loss on redemption of direct capital instrument (57)
—
Effect of changes in non-controlling interests in existing subsidiaries (36)
—
Fair value gains transferred from other reserves 2
—
Transfer from other reserves on disposal of subsidiaries, joint ventures and associates 21
Aggregate tax effect (328) 147
Balance at 31 December 4,617 2,348
The Group’s regulated subsidiaries are required to hold sufficient capital to meet acceptable solvency levels based on applicable
local regulations. Their ability to transfer retained earnings to the UK parent companies is therefore restricted to the extent these
earnings form part of local regulatory capital.
39 – Non-controlling interests
This note gives details of the Group’s non-controlling interests and shows the movements during the year.
Non-controlling interests at 31 December comprised:
2014
£m
2013
£m
Equity shares in subsidiaries 472 641
Share of earnings 202 321
Share of other reserves 242 259
916 1,221
Preference shares in General Accident plc 250 250
1,166 1,471
Movements in the year comprised:
2014
£m
2013
£m
Balance at 1 January 1,471 1,574
Profit for the year attributable to non-controlling interests 169 143
Foreign exchange rate movements (79) 34
Total comprehensive income attributable to non-controlling interests 90 177
Capital contributions from non-controlling interests
—
1
Non-controlling interests share of dividends declared in the year (189) (134)
Changes in non-controlling interest in subsidiaries (206) (147)
Balance at 31 December 1,166 1,471
The Group has no subsidiaries whose non-controlling interest (NCI) is material on the basis of their share of profit or loss in 2014.
Aviva plc Annual report and accounts 2014 |187
IFRS Financial statements