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75
APN
annual report
2011
notes to the financial statements
APN News & Media Limited and Controlled Entities
19. RESERVES AND RETAINED PROFITS
(a) Reserves
2011
$’000
2010
$’000
Asset revaluation reserve
13,661
14,816
Foreign currency translation reserve
(89,981)
(94,739)
Capital profits reserve
120
120
Share-based payments reserve
5,181
5,181
Hedging reserve
(3,243)
(1,174)
Transactions with non-controlling interests reserve
(3,179)
–
Total reserves
(77,441)
(75,796)
Asset revaluation reserve
Balance at beginning of the year
14,816
14,816
Transfer between reserves
(1,539)
–
Transfer to accumulated losses
384
–
Balance at end of the year
13,661
14,816
Foreign currency translation reserve
Balance at beginning of the year
(94,739)
(63,159)
Net exchange difference on translation of foreign operations
4,758
(31,580)
Balance at end of the year
(89,981)
(94,739)
Hedging reserve
Balance at beginning of the year
(1,174)
(508)
Net gain/(loss) on hedge contracts
(3,608)
(666)
Transfer between reserves
1,539
–
Balance at end of the year
(3,243)
(1,174)
Transactions with non-controlling interests reserve
Balance at beginning of the year
–
–
Acquisition of controlled businesses
(3,179)
–
Balance at end of the year
(3,179)
–
(b) (Accumulated losses)/retained profits
Balance at beginning of the year
(8,170)
(48,172)
Profit/(loss) attributable to owners of the parent entity
(45,070)
93,756
Transfer from revaluation reserve
(384)
–
Dividends paid
(64,076)
(53,754)
Balance at end of the year
(117,700)
(8,170)