Annual report and accounts 2008Annual report and accounts 2008

Notes contentsNotes to consolidated financial statements

29. Other reserves and retained earnings


All figures in £ millions Notes Translation
reserve		 Fair value
reserve		 Total
other
reserves		 Retained
earnings
At 1 January 2007   (592) — (592) 1,568
Net exchange differences on translation of foreign operations   25 — 25 —
Cumulative translation adjustment disposed — subsidiaries 32 53 — 53 —
Profit for the year attributable to equity holders of the company   — — — 284
Dividends paid to equity holders of the company 9 — — — (238)
Equity settled transactions 26 — — — 30
Actuarial gains on retirement benefit obligations — Group 25 — — — 80
Treasury shares released under employee share plans 28 — — — (29)
Taxation on items charged to equity 7 — — — 29
At 31 December 2007   (514) — (514) 1,724
Net exchange differences on translation of foreign operations   1,050 — 1,050 —
Cumulative translation adjustment disposed — subsidiaries 32 49 — 49 —
Cumulative translation adjustment disposed — joint venture   1 — 1 —
Profit for the year attributable to equity holders of the company   — — — 292
Dividends paid to equity holders of the company 9 — — — (257)
Equity settled transactions 26 — — — 33
Actuarial losses on retirement benefit obligations — Group 25 — — — (71)
Actuarial losses on retirement benefit obligations — associate   — — — (3)
Treasury shares released under employee share plans 28 — — — (41)
Taxation on items charged to equity 7 — — — 2
At 31 December 2008   586 — 586 1,679

The translation reserve includes exchange differences arising from the translation of the net investment in foreign operations and of borrowings and other currency instruments designated as hedges of such investments. Included in the translation reserve in 2007 was a £49m loss relating to net assets classified as held for sale.