Consolidated statement of changes in equity of ING Group
for the years ended 31 December
| amounts in millions of euros | Share capital | Share premium | Reserves | Total shareholders’ equity (parent) | Minority interests | Total equity |
|---|---|---|---|---|---|---|
| Balance as at 1 January 2005 | 634 | 8,525 | 14,910 | 24,069 | 3,481 | 27,550 |
| Implementation IAS 32/39 and IFRS 4 | –104 | –191 | 4,398 | 4,103 | –1,386 | 2,717 |
| Unrealised revaluations after taxation | 2,514 | 2,514 | –32 | 2,482 | ||
| Realised gains/losses transferred to profit and loss | –663 | –663 | –663 | |||
| Changes in cash flow hedge reserve | 764 | 764 | 764 | |||
| Transfer to insurance liabilities/DAC | –89 | –89 | 17 | –72 | ||
| Employee stock option and share plans | 63 | 63 | 63 | |||
| Exchange rate differences | 1,217 | 1,217 | 14 | 1,231 | ||
| Total amount recognised directly in equity | 3,806 | 3,806 | –1 | 3,805 | ||
| Net profit | 7,210 | 7,210 | 305 | 7,515 | ||
| 11,016 | 11,016 | 304 | 11,320 | |||
| Changes in composition of the group | –710 | –710 | ||||
| Dividends(1) | –2,461 | –2,461 | –2,461 | |||
| Exercise of warrants and options | 9 | 9 | 9 | |||
| Balance as at 31 December 2005 | 530 | 8,343 | 27,863 | 36,736 | 1,689 | 38,425 |
| Unrealised revaluations after taxation | –1,096 | –1,096 | –8 | –1,104 | ||
| Realised gains/losses transferred to profit and loss | –759 | –759 | –1 | –760 | ||
| Changes in cash flow hedge reserve | –696 | –696 | –696 | |||
| Transfer to insurance liabilities/DAC | 820 | 820 | –3 | 817 | ||
| Employee stock option and share plans | 100 | 100 | 2 | 102 | ||
| Exchange rate differences | –1,335 | –1,335 | –70 | –1,405 | ||
| Total amount recognised directly in equity | –2,966 | –2,966 | –80 | –3,046 | ||
| Net profit | 7,692 | 7,692 | 341 | 8,033 | ||
| 4,726 | 4,726 | 261 | 4,987 | |||
| Changes in composition of the group | 1,034 | 1,034 | ||||
| Dividends(2) | –2,681 | –2,681 | –35 | –2,716 | ||
| Purchase/sale of treasury shares | –520 | –520 | –520 | |||
| Exercise of warrants and options | 5 | 5 | 5 | |||
| Balance as at 31 December 2006 | 530 | 8,348 | 29,388 | 38,266 | 2,949 | 41,215 |
| Unrealised revaluations after taxation | –1,135 | –1,135 | –109 | –1,244 | ||
| Realised gains/losses transferred to profit and loss | –3,186 | –3,186 | –3,186 | |||
| Changes in cash flow hedge reserve | –925 | –925 | –925 | |||
| Transfer to insurance liabilities/DAC | 1,132 | 1,132 | 5 | 1,137 | ||
| Employee stock option and share plans | 104 | 104 | 104 | |||
| Exchange rate differences | –1,381 | –1,381 | 23 | –1,358 | ||
| Other revaluations | 31 | 31 | ||||
| Total amount recognised directly in equity | –5,391 | –5,391 | –50 | –5,441 | ||
| Net profit | 9,241 | 9,241 | 267 | 9,508 | ||
| 3,850 | 3,850 | 217 | 4,067 | |||
| Changes in composition of the group | –745 | –745 | ||||
| Dividends(3) | –2,999 | –2,999 | –40 | –3,039 | ||
| Purchase/sale of treasury shares | –2,304 | –2,304 | –2,304 | |||
| Exercise of warrants and options | 4 | 391 | 395 | 395 | ||
| Change in minority interest shareholdings | –58 | –58 | ||||
| Balance as at 31 December 2007 | 534 | 8,739 | 27,935 | 37,208 | 2,323 | 39,531 |
(1)2004 final dividend of EUR 0.58 per ordinary share and 2005 interim dividend of EUR 0.54 per ordinary share.
(2)2005 final dividend of EUR 0.64 per ordinary share and 2006 interim dividend of EUR 0.59 per ordinary share.
(3)2006 final dividend of EUR 0.73 per ordinary share and 2007 interim dividend of EUR 0.66 per ordinary share.
In 2007, deferred taxes for the year with regard to unrealised revaluations amounted to EUR 1,451 million (2006: EUR 1,339 million). For details on deferred tax see Note 21 ‘Other liabilities’.
Reserves include Revaluation reserve of EUR 4,937 million (2006: EUR 9,453 million; 2005: EUR 11,206 million), Currency translation reserve of EUR –1,354 million (2006: EUR –473 million; 2005: EUR 668 million) and Other reserves of EUR 24,352 million (2006: EUR 20,408 million; 2005: EUR 15,989 million). Changes in individual components are presented in Note 12 ‘Shareholders’ equity (parent)’.
For details on Implementation IAS 32/39 and IFRS 4 refer to section ‘Implementation of IAS 32, IAS 39 and IFRS 4’ at the end of the Accounting policies section.
