Statements of changes in equity
FOR THE YEAR ENDED 31 DECEMBER 2007
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Foreign |
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Ordinary |
|
Total |
Property |
currency |
Other non- |
Total non- |
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|
|
Preference |
|
| |
share |
Share |
ordinary |
revaluation |
translation |
distributable |
distributable |
Retained |
|
Minority |
share |
Total |
| R millions |
capital |
premium |
capital |
surplus |
reserve |
reserves |
reserves |
earnings |
Total |
interest |
capital |
equity |
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| Balance at 1 January 2006 |
110 |
343 |
453 |
268 |
3 |
4 |
275 |
2 129 |
2 857 |
77 |
6 |
2 940 |
| Changes in the Group |
|
|
|
|
|
|
|
|
|
14 |
|
14 |
| Foreign currency loan translation differences |
|
|
|
|
22 |
|
22 |
|
22 |
|
|
22 |
| Deferred tax on foreign currency loan translation differences |
|
|
|
(7) |
(6) |
|
(6) |
|
(6) |
|
|
(6) |
| Transfers to retained earnings |
|
|
|
|
|
|
(7) |
7 |
— |
|
|
— |
| Foreign operation translation differences |
|
|
|
|
1 |
|
1 |
|
1 |
|
|
1 |
| Cash flow hedge fair value adjustments |
|
|
|
|
|
5 |
5 |
|
5 |
|
|
5 |
| Deferred tax on fair value adjustments |
|
|
|
|
|
1 |
1 |
|
1 |
|
|
1 |
| Recognition of share-based payments |
|
|
|
|
|
3 |
3 |
|
3 |
|
|
3 |
| Profit for the year |
|
|
|
|
|
|
|
916 |
916 |
35 |
2 |
953 |
| Dividends paid |
|
|
|
|
|
|
|
(204) |
(204) |
|
(2) |
(206) |
| Balance at 31 December 2006 |
110 |
343 |
453 |
261 |
20 |
13 |
294 |
2 848 |
3 595 |
126 |
6 |
3 727 |
| Changes in the Group |
|
|
|
|
5 |
|
5 |
(21) |
(16) |
(1) |
|
(17) |
| Foreign currency loan translation differences |
|
|
|
|
|
(3) |
(3) |
|
(3) |
|
|
(3) |
| Deferred tax on foreign currency loan translation differences |
|
|
|
|
|
1 |
1 |
|
1 |
|
|
1 |
| Transfers to retained earnings |
|
|
|
(18) |
|
1 |
(17) |
17 |
— |
|
|
— |
| Foreign operation translation differences |
|
|
|
|
(8) |
|
(8) |
|
(8) |
|
|
(8) |
| Cash flow hedge fair value adjustments |
|
|
|
|
|
(2) |
(2) |
|
(2) |
|
|
(2) |
| Deferred tax on fair value adjustments |
|
|
|
|
|
1 |
1 |
|
1 |
|
|
1 |
| Recognition of share-based payments |
|
|
|
|
|
* |
* |
|
* |
|
|
* |
| Profit for the year |
|
|
|
|
|
|
|
455 |
455 |
10 |
2 |
467 |
| Dividends paid |
|
|
|
|
|
|
|
(235) |
(235) |
|
(2) |
(237) |
| Balance at 31 December 2007 |
110 |
343 |
453 |
243 |
17 |
11 |
271 |
3 064 |
3 788 |
135 |
6 |
3 929 |
| COMPANY |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at 1 January 2006 |
120 |
343 |
463 |
250 |
(40) |
— |
210 |
1 980 |
2 653 |
|
6 |
2 659 |
| Foreign currency loan translation differences |
|
|
|
|
11 |
|
11 |
|
11 |
|
|
11 |
| Deferred tax on foreign currency loan translation differences |
|
|
|
|
(3) |
|
(3) |
|
(3) |
|
|
(3) |
| Transfers to retained earnings |
|
|
|
|
|
|
(7) |
7 |
— |
|
|
— |
| Recognition of share-based payments |
|
|
|
|
|
3 |
3 |
|
3 |
|
|
3 |
| Profit for the year |
|
|
|
|
|
|
|
645 |
645 |
|
2 |
647 |
| Dividends paid |
|
|
|
|
|
|
|
(223) |
(223) |
|
(2) |
(225) |
| Balance at 31 December 2006 |
120 |
343 |
463 |
242 |
(32) |
3 |
214 |
2 409 |
3 086 |
|
6 |
3 092 |
| Foreign currency loan translation differences |
|
|
|
|
1 |
|
1 |
|
1 |
|
|
1 |
| Deferred tax on foreign currency loan translation differences |
|
|
|
|
* |
|
* |
|
* |
|
|
* |
| Transfers to retained earnings |
|
|
|
(1) |
|
|
(1) |
1 |
— |
|
|
— |
| Recognition of share-based payments |
|
|
|
|
|
* |
* |
|
* |
|
|
* |
| Profit for the year |
|
|
|
|
|
|
|
398 |
398 |
|
2 |
400 |
| Dividends paid |
|
|
|
|
|
|
|
(257) |
(257) |
|
(2) |
(259) |
| Balance at 31 December 2007 |
120 |
343 |
463 |
242 |
(31) |
3 |
214 |
2 551 |
3 228 |
|
6 |
3 234 |
* Nominal amount.
Foreign currency translation reserve
The foreign currency translation reserve comprises all foreign exchange differences from the translation of the financial
statements of foreign operations, as well as from the translation of liabilities that hedge the Group’s net investment in a
foreign subsidiary.
Property valuation surplus reserve
The surplus on revaluation of property arose on the revaluation of all Group property on a date prior to the transition to
International Financial Reporting Standards and is used as deemed cost in accordance with IFRS 1. The surplus is released
to retained earnings as and when the related investment property is disposed.
Other non-distributable reserves
Included in reserves is a revaluation reserve for cash flow hedges, a reserve for the share of earnings of associate companies,
an equity-settled share-based payment reserve and the statutory reserve required for the Group’s captive insurance
subsidiary company.
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