EURAZEO_REGISTRATION_DOCUMENT_2017
COMPANY FINANCIAL STATEMENTS Notes to the Company financial statements
EQUITY NOTE 6
Amount (In thousands of euros)
Number of shares
EQUITY AS OF DECEMBER 31, 2016
69,704,094
3,860,490
Dividend distribution
- -
(83,645)
Cancellation of the dividend distribution on treasury shares
4,938
Free share grant
3,485,204 (890,411)
-
Share capital decrease by cancellation of treasury shares
(48,371)
Issue of class B preference shares
16,243
-
Net income for the year ended December 31, 2017
-
437,349
EQUITY AS OF DECEMBER 31, 2017
72,315,130
4,170,760
As of December 31, 2017, the share capital comprised 72,290,622 ordinary shares and 24,508 class B preference shares.
PROVISIONS FOR CONTINGENCIES AND LOSSES NOTE 7
Reversal
12/31/2016
Charge (16,669) (22,632) (39,301)
used 1,798
not used
12/31/2017
(In thousands of euros)
Provisions for contingencies
(4,971)
(19,842) (37,755) (57,596)
Provisions for losses
(123,407) (128,378)
108,285 110,083
TOTAL
Provisions for contingencies The contingency provision recognized in respect of Eurazeo treasury shares earmarked for grant to employees, covering the risk of any loss between the net carrying amount of the shares after allocation and the stock option strike price, totaled €4,679 thousand as of December 31, 2017. A provision of €7,474 thousand was also recognized in respect of the expected outflow of resources. This provision takes account of the estimated number of shares to be presented to employees and the various plan vesting conditions.
Provisions for losses A provision of €12,501 thousand was recognized in respect of 2017 variable compensation (including related social security contributions and taxes) payable in 2018. The prior year provision of €9,342 thousand was reversed during the year. An additional provision for retirement benefits of €5,379 thousand was recognized to cover the increase in the obligation in respect of top-up pensions during the year. The provision for retirement benefits is therefore €20,502 thousand as of December 31, 2017. A €98.9 million provision was recognized in liabilities and covered the total upside payment on the unwinding of the 2009-2011 co-investment program estimated as of December 31, 2016. The program was unwound in the first quarter of 2017 and the provision was reversed (see Note 9). A payment of €112,286 thousand was made, as presented in Note 11.
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Eurazeo
2017 Registration document
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