Share
capital
£m
Share premium account
£m
Other
reserves*
£m
Retained earnings
£m
Total
£m
At 31 March 2018499.82.9327.92,120.32,950.9
Adjustment on initial application of IFRS 912.7(12.7)
Adjustment on initial application of IFRS 155.95.9
At 1 April 2018499.82.9340.62,113.52,956.8
Profit after tax363.4363.4
Other comprehensive income/(expense)
Remeasurement gains on defined benefit pension schemes (see note 18)73.073.0
Change in credit assumption for debt reported at fair value through profit or loss6.66.6
Cash flow hedge effectiveness0.40.4
Cost of hedging – cross-currency basis spread adjustment(2.2)(2.2)
Tax on items taken directly to equity (see note 7)0.3(13.5)(13.2)
Foreign exchange adjustments(0.8)(0.8)
Total comprehensive (expense)/income(2.3)429.5427.2
Dividends (see note 9)(274.4)(274.4)
Equity-settled share-based payments (see note 3)4.04.0
Exercise of share options – purchase of shares(2.8)(2.8)
At 31 March 2019499.82.9338.32,269.83,110.8
Share
capital
£m
Share premium account
£m
Other
reserves
£m
Retained earnings
£m
Total
£m
At 1 April 2017499.82.9327.71,991.22,821.6
Profit after tax354.6354.6
Other comprehensive income/(expense)
Remeasurement gains on defined benefit pension schemes (see note 18)50.250.2
Tax on items taken directly to equity (see note 7)(8.5)(8.5)
Foreign exchange adjustments0.20.2
Total comprehensive income0.2396.3396.5
Dividends (see note 9)(267.0)(267.0)
Equity-settled share-based payments (see note 3)3.23.2
Exercise of share options – purchase of shares(3.4)(3.4)
At 31 March 2018499.82.9327.92,120.32,950.9

* Other reserves comprise the group's cumulative exchange reserve, merger reserve, cost of hedging reserve and cash flow hedging reserve. The cost of hedging and cash flow hedging reserves were included as separate components of equity for the first time in the year ended 31 March 2019 as a result of the group's adoption of IFRS 9 'Financial instruments' (see accounting policies). A reconciliation of movements in these reserves is included in note 22.