talanx group annual report 2011 en
talanx group annual report 2011 en
talanx group annual report 2011 en
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238<br />
Financial statem<strong>en</strong>ts Notes<br />
G<strong>en</strong>eral information<br />
Talanx Group. Annual Report <strong>2011</strong><br />
Accounting principles<br />
and policies<br />
(16) Shareholders’ equity<br />
Segm<strong>en</strong>t <strong>report</strong>ing Consolidation,<br />
business combinations<br />
Notes on the consolidated<br />
balance sheet – liabilities<br />
Non-curr<strong>en</strong>t assets held for<br />
sale and disposal <strong>group</strong>s<br />
Shareholders’ equity is shown as a separate compon<strong>en</strong>t of the consolidated financial statem<strong>en</strong>t in<br />
accordance with IAS 1 “Pres<strong>en</strong>tation of Financial Statem<strong>en</strong>ts” and IAS 32 “Financial Instrum<strong>en</strong>ts:<br />
Disclosure and Pres<strong>en</strong>tation” in conjunction with IAS 39 “Financial Instrum<strong>en</strong>ts: Recognition and<br />
Measurem<strong>en</strong>t”. The change in shareholders’ equity comprises not only the net income deriving<br />
from the statem<strong>en</strong>t of income but also the changes in the value of asset and liability items not<br />
recognised in the statem<strong>en</strong>t of income.<br />
The share capital of Talanx AG remains unchanged at EUR 260 million and is divided into 260,000<br />
registered no-par shares. The share capital is fully paid up. With regard to the composition of<br />
the Group shareholders’ equity, please see the “Consolidated statem<strong>en</strong>t of changes in equity” on<br />
page 128.<br />
Composition of the shareholders’ equity 31.12.<strong>2011</strong> 31.12.2010 1)<br />
Figures in EUR million<br />
Common shares 260 260<br />
Additional paid-in capital 630 630<br />
Retained earnings 3,668 3,452<br />
Other reserves 343 387<br />
Group result 520 216<br />
Non-controlling interests in shareholders’ equity 3,285 3,035<br />
Total 8,706 7,980<br />
1) Adjusted on the basis of IAS 8<br />
The retained earnings include EUR 1,419 (1,383) million of equalisation reserves.<br />
Cumulative other compreh<strong>en</strong>sive income (Other reserves) includes gains and losses from curr<strong>en</strong>cy<br />
translation amounting to EUR 46 (3) million. Other reserves also include unrealised gains and losses<br />
as shown in the following table:<br />
Unrealised gains and losses 1) 31.12.<strong>2011</strong> 31.12.2010 2)<br />
Figures in EUR million<br />
Associated companies measured according to the equity method –2 –1<br />
From invested assets, available for sale 502 610<br />
From cash flow hedges –63 –136<br />
Other changes in shareholders’ equity<br />
less/plus<br />
–42 –28<br />
Policyholder participation/shadow accounting 1) –12 13<br />
Deferred taxes recognised directly in equity –86 –74<br />
Non-controlling interests in shareholders’ equity (OCI) 240 177<br />
537 561<br />
1) Includes provision for premium refunds recognised directly in equity<br />
2) Adjusted on the basis of IAS 8
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