Brambles 2006 Annual Report - Alle jaarverslagen

130
Brambles
2006 Annual Report
NOTES TO AND FORMING PART OF
THE CONSOLIDATED FINANCIAL STATEMENTS continued
for the year ended 30 June 2006
Note 29.
Reserves and retained earnings continued
a) Movements in reserves and retained earnings
Hedging
reserve
US$m
Sharebased
payments
reserve
US$m
Foreign
currency
translation
reserve
US$m
Other
US$m
Total
reserves
US$m
Retained
earnings
US$m
Year ended 30 June 2005
Opening balance – 9.8 308.1 150.4 468.3 641.4
Actuarial losses on defined benefit plans – – – – – (7.4)
Foreign exchange differences – – (7.7) (2.2) (9.9) –
Share-based payments:
– Expense recognised during the year – 14.6 – – 14.6 –
– Tax on expense recognised during the year – 1.7 – – 1.7 –
Dividends paid – – – – – (256.1)
Net profit for the year – – – – – 447.0
Closing balance – 26.1 300.4 148.2 474.7 824.9
Year ended 30 June 2006
Opening balance – 26.1 300.4 148.2 474.7 824.9
Adjustment on adoption of IAS 32/AASB 132
and IAS 39/AASB 139, net of tax 2.0 – – – 2.0 (2.2)
Actuarial gains on defined benefit plans – – – – – 25.5
Foreign exchange differences – – 80.4 4.7 85.1 –
Cash flow hedges:
– Fair value gains/(losses) 7.8 – – – 7.8 –
– Tax on fair value gains (2.8) – – – (2.8) –
– Transfers to net profit (3.2) – – – (3.2) –
– Tax on transfers to net profit 1.3 – – – 1.3 –
Share-based payments:
– Expense recognised during the year – 26.6 – – 26.6 –
– Shares issued – (12.4) – – (12.4) –
– Tax on expense recognised during the year – 8.1 – – 8.1 –
Buyback of ordinary shares – – – 5.5 5.5 (480.3)
Dividends paid – – – – – (296.9)
FCTR on entities disposed taken to profit – – (135.2) – (135.2) –
Net profit for the year – – – – – 1,463.4
Closing balance 5.1 48.4 245.6 158.4 457.5 1,534.4
b) Nature and purpose of reserves
Hedging reserve
This comprises the cumulative portion of the gain or loss of cash flow hedges that are determined to be effective hedges. Amounts
are recognised in the income statement when the associated hedged transaction is ineffective.
Share-based payments reserve
This comprises the cumulative share-based payment expense recognised in the income statement in relation to options and performance
share rights issued but not yet exercised. Refer to Note 28 for further details.
Foreign currency translation reserve
This comprises cumulative exchange differences arising from the translation of the financial statements of foreign subsidiaries,
net of qualifying net investment hedges. The relevant accumulated balance is recognised in the income statement on disposal
of a foreign subsidiary.
Other
This comprises the merger reserve created at the time of the formation of the DLC, following internal reorganisations within BIP,
and the capital redemption reserve created in 2006 as a result of the cancellation of BIP shares.