Barclays 2007 Annual Report Download - page 278

276 Barclays PLC Annual Report 2007
Barclays Bank PLC data
Notes to the accounts
j Reserves
Other reserves
Available Cash flow
for sale hedging Translation
reserve reserve reserve Total
£m £m £m £m
At 1st January 2007 184 (230) (438) (484)
Net gains from changes in fair value 385 182 – 567
Net (gains)/losses transferred to net profit (560) 198 – (362)
Currency translation differences – – 29 29
Losses transferred to net profit due to impairment 13––13
Changes in insurance liabilities 22––22
Net losses transferred to net profit due to fair value hedging 68––68
Tax (1) (124) 102 (23)
At 31st December 2007 111 26 (307) (170)
Retained earnings
Retained
earnings
£m
At 1st January 2007 11,556
Profit attributable to equity holders 4,749
Equity-settled share schemes 567
Tax on equity-settled shares schemes 28
Vesting of Barclays PLC shares under share-based payment schemes (524)
Dividends paid (3,287)
Dividends on preference shares and other shareholders’ equity (345)
Capital injection from Barclays PLC 1,434
Other movements 44
At 31st December 2007 14,222
At 1st January 2006 8,462
Profit attributable to equity holders 4,914
Equity-settled share schemes 663
Tax on equity-settled shares schemes 96
Vesting of Barclays PLC shares under share-based payment schemes (394)
Dividends paid (1,964)
Dividends on preference shares and other shareholders’ equity (329)
Other movements 108
At 31st December 2006 11,556
Transfers from the cashflow hedging reserve to the income statement were: interest income £93m loss (2006: £7m loss), interest expense £11m gain
(2006: £73m gain), net trading income £100m loss (2006: £15m loss) and administration and general expenses of £16m loss (2006: £nil).
k Other shareholders’ equity
2007 2006
£m £m
At 1st January 2,534 2,490
Appropriations 844
Other movements 145 –
At 31st December 2,687 2,534
Included in other shareholders’ equity are:
Issuances of reserve capital instruments which bear a fixed rate of interest ranging between 7.375%-8.55% until 2010 or 2011. After these dates, in the
event that the reserve capital instruments are not redeemed, they will bear interest at rates fixed periodically in advance, based on London or European
interbank rates. These instruments are repayable, at the option of the Bank, in whole on any coupon payment date falling in or after June or December 2010
or 2011. The Bank may elect to defer any payment of interest on the reserve capital instruments for any period of time. Whilst such deferral is continuing,
neither the Bank nor Barclays PLC may declare or pay a dividend, subject to certain exceptions, on any of its ordinary shares or preference shares.
Issuance of capital notes which bear interest at rates fixed periodically in advance, based on London interbank rates. These notes are repayable in each
case, at the option of the Bank, in whole on any interest payment date. The Bank is not obliged to make a payment of interest on its capital notes if, in the
preceding six months, a dividend has not been declared or paid on any class of shares of Barclays PLC.