Note 14: Group equity

Composition of share capital at year-end

 

 

 

 

 

In €

 

Authorized share capital

 

Subscribed share capital

Priority shares (48 with nominal value of €400)

 

19,200

 

19,200

Cumulative preferred shares (200 million with nominal value of €2)

 

400,000,000

 

Common shares (600 million with nominal value of €2)

 

1,200,000,000

 

469,376,682

Total

 

1,600,019,200

 

469,395,882

Outstanding common shares

 

 

 

 

 

Number of shares

 

2012

 

2013

Outstanding at January 1

 

234,688,341

 

239,047,452

Issued in connection to stock options exercised and performance-related shares granted

 

4,359,111

 

3,578,083

Balance at year-end

 

239,047,452

 

242,625,535

Weighted average number of shares

 

 

 

 

 

Number of shares

 

2012

 

2013

1

For 2012, all potentially dilutive shares were non-dilutive due to the loss.

Issued at January 1

 

234,688,341

 

239,047,452

Issued common shares during the year

 

2,551,704

 

2,180,576

Shares for basic earnings per share for the year

 

237,240,045

 

241,228,028

 

 

 

 

 

Effect of dilutive shares1

 

 

 

 

For stock options

 

12,233

 

5,647

For performance-related shares

 

2,113,705

 

2,060,997

For share-matching plan

 

12,005

 

14,825

Shares for diluted earnings per share

 

239,377,988

 

243,309,497

Subscribed share capital

For further details on subscribed share capital, see Note E in the Company financial statements.

Other components of shareholders’ equity

Changes in fair value of derivatives comprise the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. Tax related to cash flow hedges was €nil (2012: €1 million negative).

Cumulative translation reserves comprise all foreign exchange differences arising from the translation of the financial statements of foreign operations, as well as from the translation of intercompany loans with a permanent nature and liabilities and derivatives that hedge the net investments in a foreign subsidiary. Tax related to exchange differences arising on translation of foreign operations were €7 million negative (2012: €6 million positive).

Equity-settled transactions include the stock option program and the performance-related share plan whereby options or shares are granted to the Board of Management, Executive Committee and other executives. For details of the share-based compensation, see Note 4. Tax related to equity settled transactions was €3 million positive in 2013 (2012: €nil).

Non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

 

2013

 

 

 

 

 

 

Equity stake

 

 

 

Equity stake

Group equity

 

Partner

 

%

 

€ mln

 

%

 

€ mln

AkzoNobel Swire Paints (Shanghai) Limited, Shanghai, China

 

Swire Pacific Limited, China

 

30.00

 

170

 

30.00

 

167

Akzo Nobel India Ltd, Kolkata, India

 

Privately held, India

 

27.04

 

73

 

27.04

 

53

PT ICI Paints Indonesia, Jakarta, Indonesia

 

PT DWI Satrya Utama, Indonesia

 

45.00

 

38

 

45.00

 

27

ICI Paints (Malaysia) Sdn Bhd, Kuala Lumpur, Malaysia

 

Privately held, Malaysia

 

40.05

 

33

 

40.05

 

29

AkzoNobel Swire Paints (Guanzhou) Limited, China

 

Swire Pacific Limited, Industrial Development Co. Ltd of Guanzhou, China

 

46.00

 

36

 

46.00

 

41

International Paint (Korea) Ltd, Busan, South-Korea

 

Noroo Holdings, South Korea

 

40.00

 

24

 

40.00

 

19

Kayaku Akzo Corp, Tokyo Japan

 

Nippon Kayaku Co., Ltd., Japan

 

25.00

 

10

 

25.00

 

8

Akzo Nobel Kemipol AS, Izmir, Turkey

 

Privately held, Turkey

 

49.00

 

14

 

49.00

 

15

Marshall Boya, Dilovasi-Kocaeli, Turkey

 

Marshal Employees’ Foundation, Privately held, Turkey

 

11.75

 

6

 

11.75

 

5

AkzoNobel Boya Sanayi ve Ticaret A.S. (PC), Izmir, Turkey

 

Privately held, Turkey

 

25.00

 

6

 

25.00

 

4

Akzo Nobel Pakistan Limited

 

Privately held, Pakistan

 

24.19

 

16

 

24.19

 

9

AkzoNobel OmanSAOC

 

Omar Zawawi establishment LLC

 

 

 

 

50.00

 

10

Others

 

 

 

 

 

38

 

 

 

40

Total

 

 

 

 

 

464

 

 

 

427