Group statement of changes in equity
for the year ended 31 December 2006
| |
|
|
|
|
|
|
Non-distributable reserves |
|
|
|
Attributable |
|
|
|
|
|
reserves |
|
|
|
|
|
of equity |
Foreign |
Financial |
|
Share |
Share |
accounted |
currency |
instruments |
|
capital |
premium |
investments |
translation |
revaluation |
|
Rm |
Rm |
Rm |
Rm |
Rm |
| Opening balance |
|
|
|
|
|
| At 31 December 2004 |
3 |
2 809 |
20 |
(141) |
48 |
| Prior year adjustments: |
|
|
|
|
|
| – recognition of finance leases |
|
|
|
|
|
| in terms of IFRIC 4 |
|
|
|
|
|
| – transfer of attributable reserves of equity |
|
|
|
|
|
| accounted investments |
|
|
(20) |
|
|
| – negative goodwill adjustment |
|
|
|
|
|
| – decommissioning asset restated |
|
|
|
|
|
| Restated opening balance |
3 |
2 809 |
|
(141) |
48 |
| Net gains/(losses) not recognised in |
|
|
|
|
|
| income statement1 |
|
|
|
112 |
(53) |
| Currency translation differences |
|
|
|
153 |
3 |
| Minority share of reserve movements |
|
|
|
|
|
| Share-based payments movement |
|
|
|
|
|
| Financial instruments fair value movements |
|
|
|
|
|
| recognised in equity |
|
|
|
|
|
| – recognised in current year profit or loss |
|
|
|
|
(8) |
| – recognised in equity |
|
|
|
|
(95) |
| – fair value adjustment |
|
|
|
|
2 |
| Deferred taxation |
|
|
|
(41) |
45 |
| Net profit1 |
|
|
|
|
|
| Dividends paid2 |
|
|
|
|
|
| Issue of share capital |
|
132 |
|
|
|
| Movement in shares issued to |
|
|
|
|
|
| Management Share Trust |
|
(4) |
|
|
|
| Minority share buy-out |
|
|
|
|
|
| Balance at 31 December 2005 |
3 |
2 937 |
|
(29) |
(5) |
| |
|
|
|
|
|
| |
| |
|
|
|
Non-distributable reserves |
| |
|
|
|
Attributable |
|
|
| |
Equity- |
|
|
to equity |
|
Total |
| |
settled |
Insurance |
Retained |
holders of |
Minority |
shareholders’ |
| |
reserve |
reserve |
income |
the parent |
interest |
interest |
| |
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Opening balance |
|
|
|
|
|
|
| At 31 December 2004 |
34 |
|
2 516 |
5 289 |
1 197 |
6 486 |
| Prior year adjustments: |
|
|
|
|
|
|
| – recognition of finance leases in |
|
|
|
|
|
|
| terms of IFRIC 4 |
|
|
(45) |
(45) |
|
(45) |
| – transfer of attributable reserves |
|
|
|
|
|
|
| of equityaccounted investments |
|
|
20 |
|
|
|
| – negative goodwill adjustment |
|
|
53 |
53 |
|
53 |
| – decommissioning asset restated |
|
|
18 |
18 |
(11) |
7 |
| Restated opening balance |
34 |
|
2 562 |
5 315 |
1 186 |
6 501 |
| Net gains/(losses) not recognised in |
|
|
|
|
|
|
| income statement1 |
38 |
|
16 |
113 |
(37) |
76 |
| Currency translation differences |
|
|
16 |
172 |
60 |
232 |
| Minority share of reserve movements |
|
|
|
|
(97) |
(97) |
| Share-based payments movement |
38 |
|
|
38 |
|
38 |
| Financial instruments fair value |
|
|
|
|
|
|
| movements recognised in equity |
|
|
|
|
|
|
| – recognised in current |
|
|
|
|
|
|
| year profit or loss |
|
|
|
(8) |
|
(8) |
| – recognised in equity |
|
|
|
(95) |
|
(95) |
| – fair value adjustment |
|
|
|
2 |
|
2 |
| Deferred taxation |
|
|
|
4 |
|
4 |
| Net profit1 |
|
|
3 177 |
3 177 |
61 |
3 238 |
| Dividends paid2 |
|
|
(1 430) |
(1 430) |
(17) |
(1 447) |
| Issue of share capital |
|
|
|
132 |
10 |
142 |
| Movement in shares issued to |
|
|
|
|
|
|
| Management Share Trust |
16 |
|
|
12 |
|
12 |
| Minority share buy-out |
|
|
|
|
(1 194) |
(1 194) |
| Balance at 31 December 2005 |
88 |
|
4 325 |
7 319 |
9 |
7 328 |
| 1 |
Total recognised gains and losses R20 347 million (2005: R3 290 million). |
| 2 |
The STC on these dividends amount to R424 million (2005: R179 million). |
| |
|
|
Non-distributable reserves |
| |
|
|
Attributable |
|
|
| |
|
|
reserves |
|
|
| |
|
|
of equity |
Foreign |
Financial |
| |
Share |
Share |
accounted |
currency |
instruments |
| |
capital |
premium |
investments |
translation |
revaluation |
| |
Rm |
Rm |
Rm |
Rm |
Rm |
| Balance at 31 December 2005 |
3 |
2 937 |
|
(29) |
(5) |
| Net gains not recognised in income statement1 |
|
|
|
433 |
31 |
| Currency translation differences |
|
|
|
448 |
1 |
| Share of reserve movements of associates |
|
|
|
6 |
(1) |
| Share-based payments movement |
|
|
|
|
|
| Financial instruments fair value movements |
|
|
|
|
|
| recognised in equity |
|
|
|
|
|
| - recognised in current year profit or loss |
|
|
|
|
8 |
| - recognised in equity |
|
|
|
|
23 |
| Deferred taxation |
|
|
|
(21) |
|
| Net profit1 |
|
|
|
|
|
| Cash dividends paid2 |
|
|
|
|
|
| Share repurchase2 |
|
|
|
|
|
| Dividend in specie – fair value |
|
|
|
(25) |
(2) |
| Dividend in specie – fair value adjustment |
|
|
|
|
|
| Dividend in specie – net asset value |
|
|
|
(25) |
(2) |
| Issue of share capital |
1 |
2 371 |
|
|
|
| Issue of share capital to Share Trusts |
|
(173) |
|
|
|
| Balance at 31 December 2006 |
4 |
5 135 |
|
379 |
24 |
| |
Non-distributable |
|
|
|
|
| |
reserves |
|
|
|
|
| |
|
|
|
Attributable |
|
|
| |
Equity- |
|
|
to equity |
|
Total |
| |
settled |
Insurance |
Retained |
holders of |
Minority |
shareholders’ |
| |
reserve |
reserve |
income |
the parent |
interest |
interest |
| |
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Balance at 31 December 2005 |
88 |
|
4 325 |
7 319 |
9 |
7 328 |
| Net gains not recognised in income statement1 |
714 |
|
|
1178 |
|
1178 |
| Currency translation differences |
|
|
|
449 |
|
449 |
| Share of reserve movements of associates |
3 |
|
|
8 |
|
8 |
| Share-based payments movement |
711 |
|
|
711 |
|
711 |
| Financial instruments fair value movements |
|
|
|
|
|
|
| recognised in equity |
|
|
|
|
|
|
| - recognised in current year profit or loss |
|
|
|
8 |
|
8 |
| - recognised in equity |
|
|
|
23 |
|
23 |
| Deferred taxation |
|
|
|
(21) |
|
(21) |
| Net profit1 |
|
|
19 169 |
19 169 |
27 |
19 169 |
| Cash dividends paid2 |
|
|
(1 628) |
(1 628) |
(9) |
(1 637) |
| Share repurchase2 |
|
|
(1 763) |
(1 763) |
|
(1 763) |
| Dividend in specie – fair value |
|
|
(18 305) |
(18 332) |
|
(18 332) |
| Dividend in specie – fair value adjustment |
|
|
(17 966) |
(17 966) |
|
(17 966) |
| Dividend in specie – net asset value |
|
|
(339) |
(366) |
|
(366) |
| Issue of share capital |
|
|
|
2 372 |
|
2 372 |
| Issue of share capital to Share Trusts |
|
|
|
(173) |
|
(173) |
| Balance at 31 December 2006 |
802 |
|
1 798 |
8 142 |
27 |
8 169 |
| 1 |
Total recognised gains and losses R20 347 million (2005: R3 290 million). |
| 2 |
The STC on these dividends amount to R424 million (2005: R179 million). |
Foreign currency translation reserve
The foreign currency translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign entities that are not integral to the operations of the group.
Financial instruments revaluation reserve
The financial instruments revaluation reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments where the hedged transaction has not yet occurred.
Equity-settled reserve
The equity-settled reserve represents the fair value of services received and settled by equity instruments granted.
Insurance reserve
The insurance reserve represents the unrealised portion of commission receivable from re-insurers.
Online Annual Report by