The evolution and breakdown of the item “Reserves” is given below:
(in thousands of euro) |
Share premium reserve |
Legal reserve |
Fair value reserve |
Translation reserve |
Reserve for Treasury stock held |
Stock option reserve |
Other reserves |
Total reserves |
|
Balance at December 31 2008 |
33,602 |
115,969 |
38,003 |
(18,409) |
21,487 |
12,699 |
104,505 |
307,856 |
|
Capital increases |
528 |
-- |
-- |
-- |
-- |
-- |
-- |
528 |
|
Dividends unclaimed as per Art. 23 of the Bylaws |
-- |
-- |
-- |
-- |
-- |
-- |
14 |
14 |
|
Fair value measurement of hedging instruments |
-- |
-- |
(285) |
-- |
-- |
-- |
-- |
(285) |
|
Fair value measurement of securities |
-- |
-- |
7,668 |
-- |
-- |
-- |
-- |
7,668 |
|
Securities fair value reserve recognized to income statement |
-- |
-- |
(38,918) |
-- |
-- |
-- |
-- |
(38,918) |
|
Adjustment for own share transactions |
-- |
-- |
-- |
-- |
50 |
-- |
-- |
50 |
|
Recognition of notional cost of stock options |
-- |
-- |
-- |
-- |
-- |
5,455 |
-- |
5,455 |
|
Effects of equity changes in subsidiaries |
-- |
-- |
9,204 |
3 |
-- |
-- |
(7,845) |
1,362 |
|
Currency translation differences |
-- |
-- |
(1,248) |
13,501 |
-- |
-- |
-- |
12,253 |
|
Balance at December 31 2009 |
34,130 |
115,969 |
14,424 |
(4,905) |
21,537 |
18,154 |
96,674 |
295,983 |
|
Capital increases |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Dividends unclaimed as per Art. 23 of the Bylaws |
-- |
-- |
-- |
-- |
-- |
-- |
15 |
15 |
|
Fair value measurement of hedging instruments |
-- |
-- |
5,017 |
-- |
-- |
-- |
-- |
5,017 |
|
Fair value measurement of securities |
-- |
-- |
11,240 |
-- |
-- |
-- |
-- |
11,240 |
|
Securities fair value reserve recognized to income statement |
-- |
-- |
(897) |
-- |
-- |
-- |
-- |
(897) |
|
Adjustment for own share transactions |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Movements between reserves |
-- |
-- |
-- |
-- |
-- |
(7,483) |
-- |
(7,483) |
|
Recognition of notional cost of stock options |
-- |
-- |
-- |
-- |
-- |
4,336 |
-- |
4,336 |
|
Effects of equity changes in subsidiaries |
-- |
-- |
(125) |
3 |
-- |
-- |
7,806 |
7,684 |
|
Currency translation differences |
-- |
-- |
88 |
5,940 |
-- |
-- |
-- |
6,028 |
|
Balance at December 31 2010 |
34,130 |
115,969 |
29,747 |
1,038 |
21,537 |
15,007 |
104,495 |
321,923 |
The “Fair
value reserve” stood at € 29,747 thousand at December 31 2010 net of tax and
referred for the positive amounts of € 15,493 thousand to the valuation of
“Securities” in item 7.g. and for € 14,808 thousand to the valuation of
“Available-for-sale financial assets” in item
The “Translation reserve” had a balance of € 1,038 thousand at December 31 2010 with the following breakdown:
|
(in thousands of euro) |
31.12.2009 |
Increases |
Decreases |
31.12.2010 |
|
Sogefi group |
(1,462) |
6,130 |
|
4,668 |
|
CIR Ventures |
(3,166) |
809 |
|
(2,357) |
|
CIR International |
-- |
-- |
(1,363) |
(1,363) |
|
Sorgenia |
(369) |
367 |
|
(2) |
|
Others |
92 |
-- |
-- |
92 |
|
Total |
(4,905) |
7,306 |
(1,363) |
1,038 |
The item “Other reserves” had the following breakdown at December 31 2010:
(in thousands of euro)
|
Reserve for capital increases |
3 |
|
Statutory Reserve |
118 |
|
Reserve as per Art. 6 of D.Lgs no. 38 of 28/02/2005 |
(74) |
|
Reserve for the difference between the carrying values of investee companies and the respective portions of consolidated shareholders’ equity |
104,448 |
|
Total |
104,495 |
The changes in treasury stock during the year were as follows:
|
(in thousands of euro) |
Number of shares |
Value |
|
Balance at December 31 2009 |
43,074,000 |
98,657 |
|
Increases |
-- |
-- |
|
Balance at December 31 2010 |
43,074,000 |
98,657 |