Experian 2007 Annual Report Download - page 110

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Introduction | Business review | Governance | Financial statements
28. Reconciliation of movements in equity (continued)
IThe analysis of other reserves is as follows:
Treasury Total
and ESOP Merger Hedging Translation other
shares reserve reserve reserve reserves
Year ended 31 March 2007 US$m US$m US$m US$m US$m
At 1 April 2006 (496) (15,682) 14 (411) (16,575)
Cancellation of treasury shares pre demerger of Home Retail Group 179 – – – 179
Exercise of share options 129 – – – 129
Purchase of ESOP shares (75) – – – (75)
Relinquishment of Home Retail Group shares to employees
and Home Retail Group 100 – – – 100
Net income recognised directly in equity for the financial year – – 4 465 469
Balance at 31 March 2007 (163) (15,682) 18 54 (15,773)
Year ended 31 March 2006
Balances in GUS plc Group at 1 April 2005 (467) – 18 4 (445)
Creation of merger reserve – (15,682) – – (15,682)
Balances in Experian Group Limited at 1 April 2005 (467) (15,682) 18 4 (16,127)
Purchase of ESOP shares (29) – – – (29)
Net expense recognised directly in equity for the financial year – – (4) (415) (419)
Balance at 31 March 2006 (496) (15,682) 14 (411) (16,575)
At 31 March 2007, the balance on the Treasuryand ESOP shares reserve represents the cost of shares in the Company purchased by the GUS ESOP
Trust, the Experian Group Limited Employee Share Trust and the Experian UK Approved All-Employee Plan Trust to satisfy certain of the Group’s
obligations under its share incentive plans. During the year these trusts purchased 7,775,076 shares at a cost of US$75m.
The merger reserve arose on the demerger in October 2006 and represents the difference between the share capital and share premium of GUS plc,
and the nominal value of the sharecapital of the Company before the global offer and subsequent share issues.
Movements on the hedging reserve and the position at the balance sheet date reflect hedging transactions which are not charged or credited to the
Group income statement, net of related taxation.
Movements on the translation reserve and the position at the balance sheet date reflect foreign currency translations since 1 April 2004 which are
not charged or credited to the Group income statement, net of related taxation.
Notes to the Group financial statements
for the year ended 31 March 2007
108 |Experian Annual Report2007