Barclays 2010 Annual Report Download - page 195

Note
a Details of share capital and share premium are shown in Note 29.
Statement of changes in equity
Notes
Called up
share capital
and share
premiuma
£m
Capital
reserves and
other equity
£m
Retained
earnings
£m
Total equity
£m
Balance as at 1st January 2010 10,804 394 9,016 20,214
Total comprehensive income:
Profit after tax and total comprehensive income – – 235 235
Issue of new ordinary shares 1,500 – – 1,500
Issue of shares under employee share schemes 35 – – 35
Dividends 11 – – (543) (543)
Other – – 2 2
Balance as at 31st December 2010 12,339 394 8,710 21,443
Balance as at 1st January 2009 6,138 4,046 9,006 19,190
Total comprehensive income:
Profit after tax and total comprehensive income – – 125 125
Issue of new ordinary shares 749 – – 749
Issue of shares under employee share schemes 35 – – 35
Mandatory Convertible Notes issued 3,882 (3,652) (230) –
Dividends 11 – – (113) (113)
Other – – 228 228
Balance as at 31st December 2009 10,804 394 9,016 20,214
In 2010 and 2009 there were no other components of total comprehensive income other than the net profit for the year.
Cash flow statement
For the year ended 31st December 2010
£m
2009
£m
2008
£m
Reconciliation of profit before tax to net cash flows from operating activities:
Profit before tax 235 152 1,194
Changes in operating assets and liabilities 15 3 (16)
Corporate income tax paid (28) – –
Net cash from operating activities 222 155 1,178
Capital contribution to subsidiaries (1,214) (800) (4,362)
Purchase of shares in subsidiaries –(25) (16)
Liquidation of subsidiary –– 205
Net cash used in investing activities (1,214) (825) (4,173)
Issue of shares and other equity instruments 1,535 784 4,911
Dividends paid (543) (113) (2,414)
Repurchase of ordinary shares –– (173)
Net cash from financing activities 992 671 2,324
Net increase/(decrease) in cash and cash equivalents –1 (671)
Cash and cash equivalents at beginning of year 1– 671
Cash and cash equivalents at end of year 11 –
Cash and cash equivalents comprise:
Cash and balances at central banks 11 –
Net cash from operating activities includes:
Dividends received 235 103 1,173
Interest received 553 7
The Parent Company’s principal activity is to hold the investment in its wholly-owned subsidiary, Barclays Bank PLC. Dividends received are treated as
operating income.
The Company was not exposed at 31st December 2010 or 2009 to significant risks arising from the financial instruments it holds, which comprised
cash, balances with central banks and other assets which had no credit or market risk.
During 2008 Barclays Bank PLC issued £4,050m of Mandatorily Convertible Notes (MCNs), which had mandatorily converted into ordinary shares of
Barclays PLC by 30th June 2009. Barclays PLC’s right to receive the MCNs was included in other assets in 2008, with a corresponding increase, net of
issue costs, in other equity. In 2009, Barclays PLC waived its rights over the MCNs, which were added to its cost of investment in its subsidiary.
Barclays PLC Annual Report 2010 www.barclays.com/annualreport10 193
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