3 Equity
Equity
| 2007 | 2006 | |
|---|---|---|
| Share capital | 534 | 530 |
| Share premium | 8,739 | 8,348 |
| Share of associates reserve | 6,053 | 11,528 |
| Currency translation reserve | –950 | –950 |
| Other reserves | 22,832 | 18,810 |
| Equity | 37,208 | 38,266 |
Share capital
| Ordinary shares (par value EUR 0.24) | ||||
|---|---|---|---|---|
| Number X1,000 | Amount | |||
| 2007 | 2006 | 2007 | 2006 | |
| Authorised share capital | 3,000,000 | 3,000,000 | 720 | 720 |
| Unissued share capital | 773,555 | 794,907 | 186 | 190 |
| Issued share capital | 2,226,445 | 2,205,093 | 534 | 530 |
Changes in issued share capital
| Ordinary shares (par value EUR 0.24) | ||
|---|---|---|
| Number X1,000 |
Amount | |
| Issued share capital as at 31 December 2005 | 2,204,934 | 530 |
| Issue of shares | 96 | |
| Exercise of B warrants | 63 | |
| Issued share capital as at 31 December 2006 | 2,205,093 | 530 |
| Issue of shares | 5,569 | 1 |
| Exercise of B warrants | 15,783 | 3 |
| Issued share capital as at 31 December 2007 | 2,226,445 | 534 |
Changes in Other reserves and Unappropriated profit
| 2007 | Retained earnings |
Treasury shares |
Other reserves |
Total Other reserves |
Unappro- priated profit |
Total |
|---|---|---|---|---|---|---|
| Opening balance | 12,591 | –1,436 | –37 | 11,118 | 7,692 | 18,810 |
| Profit for the year | 9,241 | 9,241 | ||||
| Unrealised revaluations after taxation | 1 | 1 | 1 | |||
| Changes in treasury shares | –2,304 | –2,304 | –2,304 | |||
| Dividend | –2,999 | –2,999 | ||||
| Transfer to share of associates reserve | –174 | –174 | –174 | |||
| Transfer to retained earnings | 4,693 | 4,693 | –4,693 | |||
| Employee stock option and share plans | 104 | 104 | 104 | |||
| Other | 153 | 153 | 153 | |||
| Closing balance | 17,367 | –3,740 | –36 | 13,591 | 9,241 | 22,832 |
Changes in Other reserves and Unappropriated profit
| 2006 | Retained earnings |
Treasury shares |
Other reserves |
Total other reserves |
Unappro- priated profit |
Total |
|---|---|---|---|---|---|---|
| Opening balance | 8,083 | –868 | –13 | 7,202 | 7,210 | 14,412 |
| Profit for the year | 7,692 | 7,692 | ||||
| Unrealised revaluations after taxation | 552 | –124 | 428 | 428 | ||
| Change in treasury shares | –520 | –520 | –520 | |||
| Dividend | –2,681 | –2,681 | ||||
| Transfer to share of associates reserve | –573 | –573 | –573 | |||
| Transfer to retained earnings | 4,529 | 4,529 | –4,529 | |||
| Other | –48 | 100 | 52 | 52 | ||
| Closing balance | 12,591 | –1,436 | –37 | 11,118 | 7,692 | 18,810 |
As at 31 December 2007, Share of associates reserve included an amount of EUR 566 million (2006: EUR 566 million) related to Regio Bank NV (formerly Stichting Regio Bank) that cannot be freely distributed.
The Share of associates reserve and Currency translation reserve cannot be freely distributed. The reserve for cash flow hedges is included in the Share of associates reserve on a net basis. Retained earnings can be freely distributed. Unrealised gains and losses on derivatives, other than those used in cash flow hedges, are presented in the profit and loss and are thus part of Retained earnings and are not included in Share of associates reserve.
The total amount of Equity in the parent company annual accounts equals Shareholders’ equity (parent) in the consolidated annual accounts. Certain components within equity are different, as a result of the following presentation differences between the parent company accounts and consolidated accounts:
- Unrealised revaluations within consolidated group companies, presented in the Revaluation reserve in the consolidated accounts, are presented in the Reserve for associates in the parent company accounts;
- Foreign currency translation on consolidated group companies, presented in the Currency translation reserve in the consolidated accounts, is presented in the Reserve for associates in the parent company accounts;
- Revaluations on investment property and certain participations recognised in income and consequently presented in Retained earnings in the consolidated accounts, is presented in the reserve for associates in the parent company accounts.
The total amount of non-distributable reserves is EUR 7,003 million (2006: EUR 12,478 million).
See Note 12 ‘Shareholders’ equity (parent)’ in the consolidated annual accounts for additional information.
Change in treasury shares
| Amount | Number | |||
|---|---|---|---|---|
| 2007 | 2006 | 2007 | 2006 | |
| Opening balance | 1,436 | 868 | 53,859,235 | 38,722,934 |
| Purchased | 2,505 | 1,030 | 79,652,109 | 30,858,427 |
| Share based payments | –201 | –462 | –6,751,515 | –15,722,126 |
| Closing balance | 3,740 | 1,436 | 126,759,829 | 53,859,235 |
