Holiday Inn 2004 Annual Report Download - page 41

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STATEMENT OF TOTAL RECOGNISED GROUP GAINS AND LOSSES
2004 2003
12 months 15 months
for the 12 months ended 31 December 2004 £m £m
Earnings available for shareholders 299 19
Reversal of previous revaluation gains due to impairment (20) (22)
Exchange differences*
Goodwill eliminated (see note 32) (110) (139)
Other assets and liabilities (21) 79
Other recognised losses (151) (82)
Total recognised gains and losses for the period 148 (63)
NOTE OF HISTORICAL COST GROUP PROFITS AND LOSSES
2004 2003
12 months 15 months
for the 12 months ended 31 December 2004 £m £m
Reported profit on ordinary activities before taxation 210 36
Realisation of revaluation gains of previous periods 316
Historical cost profit on ordinary activities before taxation 21352
Historical cost loss retained after taxation, minority equity interests and dividends (290) (121)
RECONCILIATION OF MOVEMENT IN SHAREHOLDERS’ FUNDS
2004 2003
12 months 15 months
for the 12 months ended 31 December 2004 £m £m
Earnings available for shareholders 299 19
Dividends (592) (156)
(293) (137)
Other recognised losses (151) (82)
Issue of ordinary shares 16 18
Net assets of MAB eliminated on Separation –(2,777)
MAB goodwill eliminated on Separation –50
Minority interest on transfer of pension prepayment –(7)
Purchase of own shares (257) –
Purchase of own shares by employee share trusts (33) –
Credit in respect of employee share schemes 15 –
Release of own shares by employee share trusts 16 15
Movement in goodwill – exchange differences* 110 139
Net movement in shareholders’ funds (577) (2,781)
Opening shareholders’ funds 2,554 5,335
Closing shareholders’ funds 1,977 2,554
* Foreign currency denominated net assets, including goodwill purchased prior to 30 September 1998 and eliminated against Group reserves, and related foreign
currency borrowings and currency swaps, are translated at each balance sheet date giving rise to exchange differences which are taken to Group reserves as
recognised gains and losses during the period.
Notes on pages 42 to 66 form an integral part of these financial statements.
InterContinental Hotels Group 2004 39