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Annual Statements

Home Annual Statements Financial Statements 2013 Notes to the company financial statements Shareholders' equity

41. Shareholders' equity

(in thousands of euros)

Issued share capital

Share premium

Retained profits

Other reserves

Revaluation reserve

Other statutory reserves

Net Result Financial Year

Total

Balance as at 31 December 2011

84,511

362,811

2,078,989

- 26,486

417,065

37,610

194,485

3,148,985

Movements in 2012

Appropriation of result for previous year

-

-

98,073

-

1,846

- 2,927

- 96,992

-

Distribution of dividend

-

-

-

-

-

-

- 97,493

- 97,493

Exchange differences

-

-

-

- 646

-

-

-

- 646

Changes in fair value on hedging transactions

-

-

-

- 70,716

-

-

-

- 70,716

Changes in fair value on other financial interests

-

-

-

918

-

-

-

918

Net result

-

-

-

-

-

-

198,714

198,714

Other comprehensive income associates

-

-

-

- 1,617

-

-

-

- 1,617

Change in accounting policy (employee benefits)

-

-

-

- 2,000

-

-

-

- 2,000

Total movements in the year

-

-

98,073

- 74,061

1,846

- 2,927

4,229

27,160

Balance as at 31 December 2012

84,511

362,811

2,177,062

- 100,547

418,911

34,683

198,714

3,176,145

Movements in 2013

Appropriation of result for previous year

-

-

111,039

-

- 5,970

- 14,719

- 90,350

-

Distribution of dividend

-

-

-

- 108,365

-

-

- 108,365

- 108,365

Exchange differences

-

-

-

- 18,565

-

-

-

- 18,565

Changes in fair value on hedging transactions

-

-

-

6,442

-

-

-

6,442

Net result

-

-

-

-

-

-

227,492

227,492

Other comprehensive income associates

-

-

-

1,375

-

-

-

1,375

Change in accounting policy (employee benefits)

-

-

-

- 480

-

-

-

- 480

Total movements in the year

-

-

111,039

- 11,228

- 5,970

- 14,719

28,777

107,899

Balance as at 31 December 2013

84,511

362,811

2,288,101

- 111,775

412,941

19,964

227,492

3,284,045

The other statutory reserves comprise the reserve for intangible assets and the reserve for investments in associates.

The other reserves comprise the exchange differences reserve, other financial interests reserve and hedging transactions reserve. These reserves are part of the consolidated equity and are also presented as part of company equity since, like the revaluation reserve and the other statutory reserves, they restrict the ability to distribute the reserves. As a consequence, the ability to distribute equity is restricted to retained earnings.