Barclays 2006 Annual Report Download - page 215

Barclays PLC
Annual Report 2006 211
Financial statements
3
37 Reserves (continued)
Retained earnings and treasury shares – Barclays PLC Group
Retained Treasury
earnings shares Total
£m £m £m
At 1st January 2006 8,957 (181) 8,776
Profit attributable to equity holders of the parent 4,571 – 4,571
Equity-settled share schemes 663 – 663
Tax on equity-settled share schemes 96 – 96
Amortisation on treasury shares/ESOP (394) 394 –
Dividends paid (1,771) – (1,771)
Net purchases of treasury shares – (425) (425)
Other 47 – 47
At 31st December 2006 12,169 (212) 11,957
At 1st January 2005 6,784 (119) 6,665
Profit attributable to equity holders of the parent 3,447 – 3,447
Equity-settled share schemes 346 – 346
Tax on equity-settled share schemes 101 – 101
Amortisation on treasury shares/ESOP (78) 78 –
Dividends paid (1,581) – (1,581)
Net purchases of treasury shares – (140) (140)
Other (62) – (62)
At 31st December 2005 8,957 (181) 8,776
The Treasury shares primarily relate to shares held by employee benefit trusts, to the extent that they have not yet been expensed.
The Group operates in a number of countries subject to regulations under which a local subsidiary has to maintain a minimum level of capital. The
current policy of the Group is that local capital requirements are met, as far as possible, by the retention of profit. Certain countries operate exchange
control regulations which limit the amount of dividends that can be remitted to non-resident shareholders. It is not possible to determine the
amount of profit retained and other reserves that are restricted by these regulations, but the net profit retained of overseas subsidiaries, associates
and joint ventures at 31st December 2006 totalled £5,667m (2005: £3,980m). If such overseas reserves were to be remitted, other tax liabilities,
which have not been provided for in the accounts, might arise.
Retained earnings – Barclays PLC (Parent company)
Capital
Retained redemption
earnings reserve Total
£m £m £m
At 1st January 2006 1,318 309 1,627
Profit after tax 1,964 – 1,964
Dividends paid (1,814) – (1,814)
At 31st December 2006 1,468 309 1,777
At 1st January 2005 918 309 1,227
Profit after tax 2,012 – 2,012
Dividends paid (1,612) – (1,612)
At 31st December 2005 1,318 309 1,627
Details of principal subsidiaries held through Barclays Bank PLC are shown in Note 47.