Barclays 2008 Annual Report Download - page 313

3
Financial statements
Barclays PLC Annual Report 2008 311
lReserves
Other reserves
Available Cash flow
for sale hedgingTranslation
reservereservereserveTotal
£m£m£m£m
At 1st January 2008 111 26 (307) (170)
Net (losses)/gains from changes in fair value (1,752) 252 – (1,500)
Net (gains)/losses transferred to net profit (212) 19 –(193)
Currency translation differences ––2,307 2,307
Losses transferred to net profit due to impairment 382 ––382
Changes in insurance liabilities 17 ––17
Net gains transferred to net profit due to fair value hedging (2) ––(2)
Tax 207 (165) 840 882
At 31st December 2008 (1,249) 132 2,840 1,723
Retained earnings
Retained
earnings
£m
At 1st January 2008 14,222
Profit attributable to equity holders 4,846
Equity-settled share schemes 463
Tax on equity-settled shares schemes (4)
Other taxes (52)
Vesting of Barclays PLC shares under share-based payment schemes (437)
Dividends paid (1,160)
Dividends on preference shares and other shareholders’ equity (502)
Capital injection from Barclays PLC 5,137
Other movements (56)
At 31st December 2008 22,457
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
Transfers from the cash flow hedging reserve to the income statement were: interest income £4m loss (2007: £93m loss), interest expense £74m loss
(2007: £11m gain), net trading income £119m gain (2007: £100m loss) and administration and general expenses of £60m loss (2007: £16m loss).
m Other shareholders’ equity
2008 2007
£m £m
At 1st January 2,687 2,534
Appropriations 23 8
Other movements (146) 145
At 31st December 2,564 2,687
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.