Experian 2008 Annual Report Download - page 120

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118 Experian Annual Report 2008
32. Reconciliation of movements in total equity (continued)
The analysis of other reserves is as follows:
To t a l
Own Merger Hedging Translation other
shares reserve reserve reserve reserves
Year ended 31 March 2008 US$m US$m US$m US$m US$m
At 1 April 2007 (163) (15,682) 18 54 (15,773)
Exercise of share options 37 – – – 37
Purchase of own shares by employee trusts (6) – – – (6)
Net income recognised directly in equity for the financial year – – (7) 96 89
At 31 March 2008 (132) (15,682) 11 150 (15,653)
Year ended 31 March 2007
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 own shares by employee trusts (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
At 31 March 2007 (163) (15,682) 18 54 (15,773)
At 31 March 2008, the balance on the own shares reserve represents the cost of shares in the Company held by the Experian
Group Limited Employee Share Trust and the Experian UK Approved All-Employee Plan Trust, including shares purchased by
the GUS ESOP Trust to satisfy certain of the Group’s obligations under its share incentive plans. During the year these trusts
purchased 509,518 (2007: 7,775,076) shares at a cost of US$6m (2007: 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 share capital 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 continued