Consolidated statement of
changes in equity

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  2012 £m
Year ended 31 December 2012 Note Share capital Share premium Retained earnings Trans-lation reserve Available-for-sale securities reserve Share-holders’ equity   Non-
controlling interests
  Total equity
Reserves                      
Profit for the year   2,197 2,197     2,197
Other comprehensive income:                      
Exchange movements on foreign operations and net investment hedges, net of related tax   (216) (216)     (216)
Unrealised valuation movements, net of related change in amortisation of deferred acquisition costs and related tax   387 387     387
Total other comprehensive income   (216) 387 171     171
Total comprehensive income for the year   2,197 (216) 387 2,368     2,368
Dividends B3 (655) (655)     (655)
Reserve movements in respect of share-based payments   42 42     42
Change in non-controlling interests arising principally from purchase and sale of property partnerships of the PAC with-profits fund and other consolidated investment funds     (38)   (38)
Share capital and share premium                      
New share capital subscribed H11 1 16 17     17
Treasury shares                      
Movement in own shares in respect of share-based payment plans   (13) (13)     (13)
Movement in Prudential plc shares purchased by unit trusts consolidated under IFRS   36 36     36
Net increase (decrease) in equity   1 16 1,607 (216) 387 1,795   (38)   1,757
At beginning of year:                      
As previously reported   127 1,873 5,839 354 924 9,117   43   9,160
Effect of change in accounting policy
for deferred acquisition costs
A5 (595) (72) 114 (553)     (553)
After effect of change   127 1,873 5,244 282 1,038 8,564   43   8,607
At end of year H11 128 1,889 6,851 66 1,425 10,359   5   10,364

 

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  2011* £m
Year ended 31 December 2011 Note Share capital Share premium Retained earnings Trans-lation reserve Available-for-sale securities reserve Share-holders’ equity   Non- controlling interests   Total equity

* The Group has adopted updated US GAAP requirements for deferred acquisition costs as an improvement to its accounting policy under IFRS 4 for those operations of the Group which measure insurance assets and liabilities substantially by reference to US GAAP principles. Accordingly, the 2011 comparative results and related notes have been adjusted from those previously published for the retrospective application of the change as if the new accounting policy had always applied, as described in note A5.

Reserves                      
Profit for the year   1,415 1,415   4   1,419
Other comprehensive income:                      
Exchange movements on foreign
operations and net investment hedges, net of related tax
  (105) (105)     (105)
Unrealised valuation movements, net
of related change in amortisation of deferred acquisition costs and related tax
  349 349     349
Total other comprehensive income   (105) 349 244     244
Total comprehensive income for the year   1,415 (105) 349 1,659   4   1,663
                       
Dividends B3 (642) (642)     (642)
Reserve movements in respect
of share-based payments
  44 44     44
Change in non-controlling interests arising principally from purchase and sale of property partnerships of the PAC with-profits fund and other consolidated investment funds     (5)   (5)
Share capital and share premium                      
New share capital subscribed H11 17 17     17
Treasury shares                      
Movement in own shares in respect of share-based payment plans   (30) (30)     (30)
Movement in Prudential plc shares purchased by unit trusts consolidated under IFRS   (5) (5)     (5)
Net increase (decrease) in equity   17 782 (105) 349 1,043   (1)   1,042
                       
At beginning of year:                      
As previously reported   127 1,856 4,982 454 612 8,031   44   8,075
Effect of change in accounting policy
for deferred acquisition costs
  (520) (67) 77 (510)     (510)
After effect of change   127 1,856 4,462 387 689 7,521   44   7,565
At end of year H11 127 1,873 5,244 282 1,038 8,564   43   8,607
 
 

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