Telstra 2013 Annual Report Download - page 76

74 Telstra Annual Report 2013 Telstra Corporation Limited and controlled entities
(a) The foreign currency translation reserve is used to record
exchange differences arising from the conversion of the non-
Australian controlled entities’ financial statements into Australian
dollars. This reserve is also used to record our percentage share of
exchange differences arising from equity accounting our non-
Australian investments in jointly controlled and associated entities.
(b) The cash flow hedging reserve represents the effective portion
of gains or losses on remeasuring the fair value of the hedge
instrument, where a hedge qualifies for hedge accounting. These
gains or losses are transferred to the income statement when the
hedged item affects income, or, in the case of forecast transactions,
are included in the measurement of the initial cost of property, plant
and equipment or inventory.
(c) The consolidation fair value reserve represented our share of the
fair value adjustments to TelstraClear Limited net assets upon
acquisition of a controlling interest, which was amortised over the
useful life of the underlying revalued assets. The reserve balance
was amortised in full in financial year 2012.
(d) The general reserve represents other items we have taken
directly to equity.
The notes following the financial statements form part of the
financial report.
STATEMENT OF
CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2013
Telstra Group
Reserves
Foreign
currency Consolid- Non-
transla- Cash flow ation General controll-
Share tion hedging fair value reserve Retained ing Total
capital (a) (b) (c) (d) profits Total interests equity
$m $m $m $m $m $m $m $m $m
Balance at 1 July 2011 . 5,610 (837) (14) 4 4 7,307 12,074 218 12,292
Profit for the year . . . . . - - - - - 3,405 3,405 19 3,424
Other comprehensive income - 86 (73) - - (530) (517) 8 (509)
Total comprehensive income
for the year . . . . . . . . - 86 (73) - - 2,875 2,888 27 2,915
Dividends. . . . . . . . . - - - - - (3,475) (3,475) (16) (3,491)
Transactions with non-
controlling interests. . . . - - - - (32) - (32) (5) (37)
Non-controlling interests on
disposals . . . . . . . . . - - - - - - - (24) (24)
Transfers to retained profits - - - (4) (1) 5 - - -
Amounts repaid on share
loans provided to employees 3 - - - - - 3 - 3
Share based payments. . 22 - - - - - 22 9 31
Balance at 30 June 2012 5,635 (751) (87) - (29) 6,712 11,480 209 11,689
Profit for the year . . . . . - - - - - 3,813 3,813 52 3,865
Other comprehensive income -252 (5) - - 474 721 25 746
Total comprehensive income
for the year . . . . . . . . -252 (5) - - 4,287 4,534 77 4,611
Dividends. . . . . . . . . - - - - - (3,480) (3,480) (28) (3,508)
Transactions with non-
controlling interests. . . . - - - - 1 - 1 - 1
Amounts repaid on share
loans provided to employees 47 -----47 -47
Additional shares purchased (42) -----(42) -(42)
Exercise of employee share
options . . . . . . . . . . 29 -----29 -29
Share based payments. . 42 -----42 648
Balance at 30 June 2013 5,711 (499) (92) -(28) 7,519 12,611 264 12,875