2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

3CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statementsCash and cash equivalents include the €187 million proceeds(€181 million at 31 December 2009) from sales of receivables fulfillingthe derecognition criteria of IAS 39, as explained in note 1.5.13.8.Cash equivalents at 31 December 2010 consisted of term deposits,euro-denominated money market mutual funds and other short-terminvestments. The Group applies the guidelines set out in the pressrelease published by the AFG-AFTE on 8 March 2006 concerning theclassification of money market funds as cash equivalents in accordancewith IAS 7 - Cash Flow Statements.NOTE 24. EQUITYNote 24.1. Share capitalAt 31 December 2010, the share capital was €169,323,360 versus€168,852,310 at 31 December 2009, divided into 110,668,863fully-paid ordinary shares, each with a par value of €1.53.Under the shareholder authorisations given to the Board of Directors,the share capital may be increased immediately or in the future, by upto €150 million through the issuance of shares or share equivalentsother than bonus shares paid up by capitalising profits, reserves oradditional paid-in capital.Issued and fully-paid ordinary shares (number of shares) 2010 2009At 1 January 110,360,987 97,769,191Shares issued on exercise of stock options 281,725 9,373New shares issued (1) 46 -New shares issued pursuant to share grants 51,550 77,169Cancellation of shares (25,445) -Conversion of preferred non-voting shares into ordinary shares (2) - 12,505,254AT 31 DECEMBER 110,668,863 110,360,987(1) In accordance with the 16th resolution passed by the shareholders at the annual general meeting of 29 April 2010, the approval of the merger absorption of Viver by Casino, Guichard-Perrachon led to the issuance of 46 new shares.(2) In accordance with the 25th resolution passed by the shareholders at the annual general meeting of 19 May 2009, the preferred non-voting shares were converted into ordinary shares,increasing the share capital by €19 million.Note 24.2. Other equity€ millions 2010 2009 adjustedAdditional paid-in capital(1)3,980 3,964Treasury shares 24.2.2 - (4)Equity instruments (deeply subordinated perpetual bonds) 24.2.3 600 600Other equity instruments 24.2.4 (4) (5)Reserves(2)2,624 1,961Translation reserve 24.2.5 951 372TOTAL OTHER EQUITY 8,151 6,888(1) Additional paid-in capital corresponds to cumulative premiums on shares issued for cash or in connection with mergers or acquisitions recorded in the parent company accounts, as wellas the legal reserve.(2) Reserves correspond to:– parent company reserves;– subsidiaries’ reserves;– the cumulative effect of changes in accounting policies and estimates and corrections of errors;– gains and losses from remeasurement at fair value of available-for-sale fi nancial assets;– gains and losses on cash fl ow hedges recognised directly in equity;– the cumulative effect of share-based payment expense.Note 24.2.1. Share equivalentsThe Group has granted stock options to its employees under theplans presented in note 25.Note 24.2.2. Treasury sharesTreasury shares correspond to shareholder-approved buybacks ofCasino Guichard-Perrachon SA shares. At 31 December 2010, a totalof 6,928 shares were held in treasury. These shares were acquiredat a total cost of less than €1 million.In January 2005, the Group signed a liquidity contract with theRothschild investment bank in accordance with European Commissionregulation 2273/2003/EC. The liquidity account was set up with a totalof 700,000 Casino, Guichard-Perrachon shares and €40 million. At31 December 2010, no treasury shares were held under the contract.The cash earmarked for the liquidity account is invested in moneymarket mutual funds. These funds qualify as cash equivalents andare therefore included in net cash and cash equivalents in the cashflow statement.94 Casino Group | Registration Document 2010