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| 2005 | |||||||
|---|---|---|---|---|---|---|---|
| Share premium £m |
Merger reserve £m |
Capital redemption reserve £m |
Transition hedging reserve £m |
Cash flow hedging reserve £m |
Translation reserve £m |
Retained earnings1 £m |
|
| At January 1, 2005 | 4 | 3 | 74 | — | — | (38) | 1,053 |
| On implementation of IAS 32 and IAS 39 | — | — | — | 703 | (3) | 6 | (550) |
| At January 1, 2005 (restated) | 4 | 3 | 74 | 703 | (3) | (32) | 503 |
| Exchange adjustments | — | — | — | — | — | 49 | — |
| Arising on share issues (net of expenses) | 26 | — | — | — | — | — | — |
| Hedging reserve transfers to income statement | — | — | — | (462) | 3 | — | — |
| Profit for the year | — | — | — | — | — | — | 350 |
| Actuarial loss | — | — | — | — | — | — | (282) |
| Deferred tax on actuarial loss | — | — | — | — | — | — | 84 |
| Other deferred tax movements through reserves | — | — | — | 138 | — | — | 24 |
| Relating to own shares | — | — | — | — | — | — | — |
| Issue of B Shares | — | — | — | — | — | — | (141) |
| Redemption of B Shares | — | — | 52 | — | — | — | (52) |
| Conversion of B Shares into ordinary shares | — | — | 80 | — | — | — | — |
| Share-based payment adjustment | — | — | — | — | — | — | 26 |
| At December 31, 2005 | 30 | 3 | 206 | 379 | — | 17 | 512 |
| 2004 | |||||||
|---|---|---|---|---|---|---|---|
| Share premium £m |
Merger reserve £m |
Capital redemption reserve £m |
Transition hedging reserve £m |
Cash flow hedging reserve £m |
Translation reserve £m |
Retained earnings1 £m |
|
| At January 1, 2004 | 1 | 3 | — | — | — | — | 876 |
| Exchange adjustments | — | — | — | — | — | (38) | — |
| Scrip dividend adjustment | — | (2) | — | — | — | — | 20 |
| Arising on share issues (net of expenses) | 3 | — | — | — | — | — | — |
| Other adjustments | — | 2 | — | — | — | — | — |
| Profit for the year | — | — | — | — | — | — | 263 |
| Actuarial loss | — | — | — | — | — | — | (7) |
| Deferred tax on actuarial loss | — | — | — | — | — | — | 2 |
| Other deferred tax movements through reserves | — | — | — | — | — | — | 6 |
| Relating to own shares | — | — | — | — | — | — | (2) |
| Issue of B Shares | — | — | — | — | — | — | (84) |
| Redemption of B Shares | — | — | 27 | — | — | — | (27) |
| Conversion of B Shares into ordinary shares | — | — | 47 | — | — | — | — |
| Share-based payment adjustment | — | — | — | — | — | — | 6 |
| At December 31, 2004 | 4 | 3 | 74 | — | — | (38) | 1,053 |
- At December 31, 2005, 68,536,712 shares with a net book value of £132m (2004 847,877 shares with a net book value of £2m) were held and included in retained earnings.