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77 Qantas Annual Report 2008
Statements of Changes in Equity continued
for the year ended 30 June 2008
Qantas
Balance as at 1 July 2006 4,382.2 (23.8) 23.7 332.2 672.2 5,386.5
Impact of initial adoption of Interpretation 13 – – – – (505.8) (505.8)
Restated balance 4,382.2 (23.8) 23.7 332.2 166.4 4,880.7
Profi t for the year – – – – 413.3 413.3
Transfer of hedge reserve to the Income Statement1– – –9.7 –9.7
Recognition of effective cash fl ow hedges on
capitalised assets – – – 41.2 – 41.2
Effective portion of changes in fair value
of cash fl ow hedges – – –(261.5) –(261.5)
Own shares acquired –(24.5)–––(24.5)
Shares vested to employees – 15.7 (13.9) – (1.8) –
Share-based payments ––17.2––17.2
Dividends declared 99.0 – – – (512.8) (413.8)
Balance as at 30 June 2007 4,481.2 (32.6) 27.0 121.6 65.1 4,662.3
Profi t for the year ––––1,308.21,308.2
Shares bought back (505.7) – – – – (505.7)
Transfer of hedge reserve to the Income Statement1– – – (208.8) – (208.8)
Recognition of effective cash fl ow hedges on
capitalised assets –––71.7–71.7
Effective portion of changes in fair value
of cash fl ow hedges – – – 437.2 – 437.2
Own shares acquired –(69.2)–––(69.2)
Shares vested to employees –40.8(35.9) – (4.9) –
Share-based payments – – 61.6 – – 61.6
Dividends declared ––––(639.8)(639.8)
Balance as at 30 June 2008 3,975.5 (61.0) 52.7 421.7 728.6 5,117.5
Amounts transferred from the hedge reserve to the Income Statements totalled $208.8 million (2007: ($9.7) million). These amounts were allocated to revenue (2008: ($124.7) million;
2007: $18.1 million) and fuel expenditure (2008: $333.5 million; 2007: ($27.8) million) in the Income Statements.
1
Issued Capital
$M
Treasury Shares
$M
Employee
Compensation Reserve
$M
Hedge Reserve
$M
Retained Earnings
$M
Total Equity
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