Marks and Spencer 2012 Annual Report Download - page 78

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Financial statements Marks and Spencer Group plc Annual report and financial statements 2012 76
Consolidated statement of changes in equity
Ordinary
share capital
£m
Share
premium
account
£m
Capital
redemption
reserve
£m
Hedging
reserve
£m
Other
reserve1
£m
Retained
earnings2
£m
Total
£m
Non-
controlling
interest
£m
Total
£m
At 4 April 2010 395.5 247.5 2,202.6 11.6 (5,970.5) 5,281.9 2,168.6 17.3 2,185.9
Profit/(loss) for the year – – – – – 612.0 612.0 (13.4) 598.6
Other comprehensive income:
Foreign currency translation – – – (0.7) – (15.7) (16.4) – (16.4)
Actuarial gains on retirement benefit schemes – – – – – 286.0 286.0 – 286.0
Tax on retirement benefit schemes – – – – – (78.0) (78.0) – (78.0)
Cash flow and net investment hedges
– fair value movements – – – (60.4) – 2.6 (57.8) – (57.8)
– reclassified and reported in net profit3– – – 42.1 – – 42.1 – 42.1
– amount recognised in inventories – – – (11.2) – – (11.2) – (11.2)
Tax on cash flow hedges and net
investment hedges – – – 7.3 – 12.1 19.4 – 19.4
Other comprehensive income – – – (22.9) – 207.0 184.1 – 184.1
Total comprehensive (expenses)/income – – – (22.9) – 819.0 796.1 (13.4) 782.7
Transactions with owners:
Dividends – – – – – (247.5) (247.5) – (247.5)
Recognition of financial liability4– – – – (71.9) – (71.9) – (71.9)
Shares issued on exercise of employee
share options 0.7 7.7 – – – – 8.4 – 8.4
Purchase of own shares held by
employee trusts – – – – – (12.0) (12.0) – (12.0)
Credit for share-based payments – – – – – 31.7 31.7 – 31.7
Deferred tax on share schemes – – – – – 0.1 0.1 – 0.1
At 2 April 2011 396.2 255.2 2,202.6 (11.3) (6,042.4) 5,873.2 2,673.5 3.9 2,677.4
At 3 April 2011 396.2 255.2 2,202.6 (11.3) (6,042.4) 5,873.2 2,673.5 3.9 2,677.4
Profit/(loss) for the year – – – – – 513.1 513.1 (23.5) 489.6
Other comprehensive income:
Foreign currency translation – – – (1.1) – (14.0) (15.1) – (15.1)
Actuarial losses on retirement benefit schemes – – – – – (189.9) (189.9) – (189.9)
Tax on retirement benefit schemes – – – – – 50.4 50.4 – 50.4
Cash flow and net investment hedges – –
– fair value movements – – – 43.8 – 9.2 53.0 – 53.0
– reclassified and reported in net profit3– – – (23.0) – – (23.0) – (23.0)
– amount recognised in inventories – – – 13.7 – – 13.7 – 13.7
Tax on cash flow hedges and net
investment hedges – – – (7.3) – – (7.3) – (7.3)
Other comprehensive income – – – 26.1 – (144.3) (118.2) – (118.2)
Total comprehensive income/(expenses) – – – 26.1 – 368.8 394.9 (23.5) 371.4
Transactions with owners:
Dividends – – – – – (267.8) (267.8) – (267.8)
Transactions with non-controlling shareholders – – – – – (6.4) (6.4) 8.2 1.8
Recognition of financial liability4– – – – (71.9) – (71.9) – (71.9)
Shares issued on exercise of employee
share options 5.2 39.1 – – – – 44.3 – 44.3
Purchase of own shares held by
employee trusts – – – – – (13.2) (13.2) – (13.2)
Credit for share-based payments – – – – – 32.5 32.5 – 32.5
Deferred tax on share schemes – – – – – 4.3 4.3 – 4.3
At 31 March 2012 401.4 294.3 2,202.6 14.8 (6,114.3) 5,991.4 2,790.2 (11.4) 2,778.8
1 The ‘Other reserve’ was originally created as part of the capital restructuring that took place in 2002. It represents the difference between the nominal value of the shares issued prior to the
capital reduction by the Company (being the carrying value of the investment in Marks and Spencer plc) and the share capital, share premium and capital redemption reserve of Marks and
Spencer plc at the date of the transaction. The reserve also includes discretionary distributions to the Marks & Spencer UK Pension Scheme of £427.9m (last year £499.8m) (see note 11).
2 The ‘Retained earnings reserve’ includes a cumulative £5.1m gain (last year £19.1m gain) in the currency reserve.
3 Amounts reclassified and reported in net profit have all been recorded in cost of sales.
4 Following the Group’s payment of an interim dividend in relation to 2011/12, the associated distribution of £71.9m became payable to the Marks & Spencer UK Pension Scheme and has
been recognised as a liability (see note 12).