IAG Annual Report 2006 - Statement of Recognised Income and Expense

Financial Report

STATEMENT OF RECOGNISED INCOME AND EXPENSE
for the year ended 30 June 2006

	2006 $m	2005 $m
	CONSOLIDATED
Income and expenses recognised directly in equity during the year, net of tax
Actuarial gains / (losses) on defined benefit plans	21	(1)
Net movement in foreign currency translation reserve	(9)	(1)
Net movement in hedging reserve	(5)	–
Vesting of share based remuneration	(1)	–
Total net income and (expense) recognised directly in equity	6	(2)
Profit for the year	862	928
Total recognised income and expense for the year	868	926
Total recognised income and expense for the year attributable to:
Equity holders of the Parent	765	809
Minority interests	103	117
Total recognised income and expense for the year	868	926
Effect of changes in accounting policies made as part of the transition to AIFRS Income and expenses recognised directly in equity on 1 July 2005, net of tax
Initial recognition of AIFRS adjustments directly to retained earnings at 1 July 2005, net of tax
– Adjustment to valuation of investments	1	–
– Amortisation of reset preference shares transaction costs	(6)	–
– Accrual for distribution on reset preference shares	(1)	–
Initial recognition of AIFRS adjustments directly to reserves at 1 July 2005, net of tax
– Recognition of hedging reserve, net of tax	(5)	–
	(11)	–
Net AIFRS adjustments at 1 July 2005 attributable to:
Equity holders of the Parent	(10)	–
Minority interests	(1)	–
	(11)	–

Other movements in equity arising from transactions with equity holders acting in their capacity as equity holders are set out in note 7.

The above statement of recognised income and expense should be read in conjunction with the notes to the concise financial statements.

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