Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

Notes to the Financial Statements Continued
22 Revenue and other reserves continued
68 Mandarin Oriental International Limited
Revenue Capital Hedging Exchange
reserves reserves reserves reserves Total
US$m US$m US$m US$m US$m
2007
At 1st January 364.2 480.3 1.7 (54.2 ) 792.0
Revaluation of properties
– net revaluation surplus – 70.3 – – 70.3
– deferred tax – (26.1 ) – – (26.1 )
Revaluation of other investments
– fair value gain 0.1 – – – 0.1
Defined benefit pension plans
– actuarial gain 7.6 – – – 7.6
– deferred tax (1.4 ) – – – (1.4 )
Net exchange translation differences
– amount arising in year – – – 37.4 37.4
– transfer to profit and loss (note 2) – – – (8.3 ) (8.3 )
Fair value loss on cash flow hedges – – (5.2 ) – (5.2 )
Deferred tax on fair value loss – – 1.5 – 1.5
Share-based payments – 2.7 – – 2.7
Profit attributable to shareholders 108.2 – – – 108.2
Dividends (refer note 24) (38.7 ) – – – (38.7 )
At 31st December 2007 440.0 527.2 (2.0 ) (25.1 ) 940.1
Of which:
– Company 91.9 10.3 – – 102.2
– Associates and joint venture (10.1 ) 114.4 – (44.7 ) 59.6
Capital reserves include property revaluation reserves of US$220.0 million net of attributable deferred tax of
US$71.0 million (2007: US$262.8 million net of attributable deferred tax of US$93.7 million) which are
non-distributable in certain territories in which the Group operates.