Experian 2015 Annual Report Download - page 163

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Notes to the Group financial statements
for the year ended 31 March 2015 continued
36. Called up share capital and share premium account
At 31 March 2015, there were 1,032.8m shares in issue (2014: 1,031.6m) and 1.2m (2014: 1.5m) shares were issued in the year then ended.
Further information is contained in note L to the Company financial statements.
The difference between the amounts shown in the Group and Company financial statements in respect of called up share capital and
the share premium account arose due to the translation of the sterling amounts into US dollars at the different exchange rates on the
different translation dates.
37. Retained earnings and other reserves
(a) Retained earnings
Retained earnings comprise net profits retained after the payment of equity dividends. There are no significant statutory, contractual or
exchange control restrictions on distributions by Group undertakings.
(b) Other reserves
(i) Movements in reserves
Merger
reserve
US$m
Hedging
reserve
US$m
Translation
reserve
US$m
Own
shares
reserve
US$m
Total
other
reserves
US$m
At 1 April 2014 (15,682) 11 (200) (809) (16,680)
Purchase of shares held as treasury shares – – – (170) (170)
Purchase of shares by employee trusts – – – (38) (38)
Exercise of share awards and options – – – 112 112
Currency translation losses – – (570) – (570)
At 31 March 2015 (15,682) 11 (770) (905) (17,346)
Merger
reserve
US$m
Hedging
reserve
US$m
Translation
reserve
US$m
Own
shares
reserve
US$m
Total
other
reserves
US$m
At 1 April 2013 (15,682) 11 (11) (565) (16,247)
Purchase of shares held as treasury shares – – – (203) (203)
Purchase of shares by employee trusts – – – (126) (126)
Exercise of share awards and options – – – 85 85
Currency translation losses – – (189) – (189)
At 31 March 2014 (15,682) 11 (200) (809) (16,680)
(ii) Nature of reserves
The merger reserve arose on the demerger in October 2006 and is 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 share offer in October 2006.
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 tax.
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 tax. The movement in the year ended 31 March 2015
comprises currency translation losses of US$570m (2014: US$187m) recognised directly in other comprehensive income, together with
the reclassification of cumulative currency translation gains in respect of divestments of US$nil (2014: US$2m).
The balance on the own shares reserve is the cost of ordinary shares in the Company and further details are given in note (iii) below.
The difference between the amounts shown in the Group and Company financial statements in respect of this reserve arose due to the
translation of the sterling amounts into US dollars at the different exchange rates on the different translation dates.
162 •Financial statements Notes to the Group nancial statements