Pdf
Share
capital
£m
Share
premium
account
£m
Other
reserve
£m
Cumulative
exchange
reserve
£m
Merger
reserve
£m
Retained
earnings
£m
Total
£m
At 1 April 2014499.82.9158.8(5.6)329.71,230.32,215.9
Profit after taxation271.2271.2
Other comprehensive (expense)/income
Remeasurement gains on defined benefit pension schemes (see note 18)250.5250.5
Taxation on items taken directly to equity (see note 6)(50.1)(50.1)
Foreign exchange adjustments(3.1)(3.1)
Total comprehensive (expense)/income(3.1)471.6468.5
Dividends (see note 9)(249.4)(249.4)
Transfer of other reserve(158.8)158.8
Equity-settled share-based payments (see note 2)2.92.9
Exercise of share options – purchase of shares(3.5)(3.5)
At 31 March 2015499.82.9(8.7)329.71,610.72,434.4
Share
capital
£m
Share
premium
account
£m
Other
reserve
£m
Cumulative
exchange
reserve
£m
Merger
reserve
£m
Retained
earnings
£m
Total
£m
At 1 April 2013499.82.9158.8(4.4)329.7885.11,871.9
Profit after taxation739.4739.4
Other comprehensive (expense)/income
Remeasurement losses on defined benefit pension schemes (see note 18)(200.8)(200.8)
Taxation on items taken directly to equity (see note 6)40.940.9
Foreign exchange adjustments(1.2)(1.2)
Total comprehensive (expense)/income(1.2)579.5578.3
Dividends (see note 9)(237.9)(237.9)
Equity-settled share-based payments (see note 2)4.44.4
Exercise of share options – purchase of shares(0.8)(0.8)
At 31 March 2014499.82.9158.8(5.6)329.71,230.32,215.9

On the group's transition to IFRS in the year ended 31 March 2006, the other reserve arose from the uplift to fair value of the infrastructure assets. This reserve is a component of retained earnings and, as such, has been transferred and presented within retained earnings during the year.

The merger reserve arose in the year ended 31 March 2009 on consolidation and represents the capital adjustment to reserves required to effect the reverse acquisition of United Utilities PLC by United Utilities Group PLC.