| 2006 | |||||||
|---|---|---|---|---|---|---|---|
| Share premium £m |
Merger reserve £m |
Capital redemption reserves £m |
Transition hedging reserve £m |
Cash flow hedging reserve £m |
Translation reserve £m |
Retained earnings1 £m |
|
| At January 1, 2006 | 30 | 3 | 206 | 379 | — | 17 | 512 |
| Exchange adjustments | — | — | — | — | — | (75) | — |
| Arising on issues of ordinary shares | 13 | — | — | — | — | — | — |
| Hedging reserve transfers to income statement | — | — | — | (289) | — | — | — |
| Profit for the year | — | — | — | — | — | — | 998 |
| Actuarial gains | — | — | — | — | — | — | 602 |
| Issue of B Shares | — | — | (154) | — | — | — | — |
| Redemption of B Shares | — | — | 93 | — | — | — | (93) |
| Conversion of B Shares into ordinary shares | — | — | 52 | — | — | — | — |
| Other transactions in ordinary shares | — | — | — | — | — | — | 96 |
| Share-based payments adjustment | — | — | — | — | — | — | (13) |
| Related tax movements | — | — | — | 87 | — | — | (102) |
| At December 31, 2006 | 43 | 3 | 197 | 177 | — | (58) | 2,000 |
| 2005 | |||||||
|---|---|---|---|---|---|---|---|
| Share premium £m |
Merger reserve £m |
Capital redemption reserves £m |
Transition hedging reserve £m |
Cash flow hedging reserve £m |
Translation reserve £m |
Retained earnings1 £m |
|
| 1 At December 31, 2006, 16,654,181 shares with a net book value of £38m (2005 68,536,712 shares with a net book value of £132m) were held and included in retained earnings. | |||||||
| At January 1, 2005 | 4 | 3 | 74 | 703 | (3) | (32) | 503 |
| Exchange adjustments | — | — | — | — | — | 49 | — |
| Arising on issues of ordinary shares | 26 | — | — | — | — | — | — |
| Hedging reserve transfers to income statement | — | — | — | (462) | 3 | — | — |
| Profit for the year | — | — | — | — | — | — | 350 |
| Actuarial losses | — | — | — | — | — | — | (282) |
| Issue of B Shares | — | — | — | — | — | — | (141) |
| Redemption of B Shares | — | — | 52 | — | — | — | (52) |
| Conversion of B Shares into ordinary shares | — | — | 80 | — | — | — | — |
| Share-based payments adjustment | — | — | — | — | — | — | 26 |
| Related tax movements | — | — | — | 138 | — | — | 108 |
| At December 31, 2005 | 30 | 3 | 206 | 379 | — | 17 | 512 |