Massmart Annual Report 2008

Statement of changes in equity
for the year ended 30 June 2008

      Non- Share-based   Equity
attributable
to equity
   
  Share Share distributable payment Retained holders of Minority  
  capital premium reserves* reserve* profit the parent interests Total
  Rm Rm Rm Rm Rm Rm Rm Rm
                 
Balance as at 30 June 2006 2,0 262,6 100,0 43,4 1 493,8 1 901,8 50,6 1 952,4
Profit for the year 1 058,8 1 058,8 15,3 1 074,1
Exchange differences and                
hyperinflation movements 0,6 0,6 0,6
Deconsolidation of                
Makro Zimbabwe 5,9 5,9 5,9
Fair value adjustment of                
investment in Makro Zimbabwe (13,2) (13,2) (13,2)
Cash flow hedges taken directly                
to equity 1,2 1,2 1,2
Transfers from/to retained                
profit arising as a result of:                
– release of deferred taxation                
on trademarks (5,8) 5,8
– share trust loss (216,5) (216,5) (216,5)
Changes in minority interests (37,3) (37,3)
Distribution to minorities (2,8) (2,8)
Dividends declared (note 9) (565,0) (565,0) (565,0)
Share-based payment expense 73,3 73,3 73,3
BEE transaction costs (4,5) (4,5) (4,5)
Treasury shares acquired (3,4) (3,4) (3,4)
                 
Balance as at 30 June 2007 2,0 254,7 88,7 116,7 1 776,9 2 239,0 25,8 2 264,8
                 
Profit for the year 1 336,6 1 336,6 21,5 1 358,1
Exchange differences and                
hyperinflation movements 4,6 4,6 4,6
Cash flow hedges taken directly                
to equity (1,9) (1,9) (1,9)
Transfers from/to retained                
profit arising as a result of:                
– release of deferred taxation                
on trademarks (5,8) 5,8
– share trust loss (96,3) (96,3) (96,3)
Gains and losses not recognised                
in the income statement 3,3 3,3 3,3
Changes in minority interests (3,0) (3,0)
Distribution to minorities (13,6) (13,6)
Dividends declared (note 9) (709,9) (709,9) (709,9)
Share-based payment expense 109,1 109,1 109,1
BEE transaction costs
Treasury shares acquired (103,0) (45,7) (148,7) (148,7)
                 
Balance as at 30 June 2008 2,0 151,7 43,2 225,8 2 313,1 2 735,8 30,7 2 766,5

*  These reserves have been combined in the balance sheet as non-distributable reserves.