BPCE - 2018 Registration document
5 FINANCIAL REPORT
IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2018
5.1.4
Statement of changes in equity
Share capital and additional paid-in capital
Perpetual deeply subordinated notes
Additional paid-in capital (1)
Retained earnings
Share capital (1)
in millions of euros
SHAREHOLDERS’ EQUITY AT JANUARY 1, 2017
18,113
3,834
1,230
36,560
Distribution
(354)
775
870
Capital increase (2)
(547)
(505)
Redemption of deeply subordinated notes (3) Interest on deeply subordinated notes
(75)
Impact of acquisitions and disposals on non-controlling interests (4) Total activity arising from relations with shareholders Gains and losses recognized directly in other comprehensive income (5) Net income for the period Comprehensive income Other changes (6)
(226) (290)
775
(273)
(69)
SHAREHOLDERS’ EQUITY AT DECEMBER 31, 2017
18,888
3,834
683
36,200
Allocation of net income for 2017
3,024
New presentation of gains and losses recognized directly in other comprehensive income for the insurance business Impact of changes relating to the first-time application of IFRS 9 (7)
(796)
SHAREHOLDERS’ EQUITY AT JANUARY 1, 2018
18,888
3,834
683
38,428
Distribution
(358)
Capital increase (2)
791
613 (36) (65)
Redemption of deeply subordinated notes (8) Interest on deeply subordinated notes
(107)
Impact of acquisitions and disposals on non-controlling interests (9) Total activity arising from relations with shareholders Gains and losses recognized directly in other comprehensive income (10) Net income for the period Comprehensive income Other changes (11)
791
47
(114)
SHAREHOLDERS’ EQUITY AT DECEMBER 31, 2018
19,679
3,834
683
38,360
At December 31, 2018, “Share capital” and “Additional paid-in capital” consisted of the share capital in the Banque Populaire banks and the Caisses d’Epargne (see Note 5.15.1). (1) Since January 1, 2018, the Banque Populaire banks and the Caisses d’Epargne have carried out capital increases of €791 million (€775 million in 2017), resulting in an increase in “Share capital” and (2) “Additional paid-in capital.” The shareholders’ equity of the Local Savings Companies is included in “Retained earnings” after the elimination of the Caisses d’Epargne cooperative shares held. The issuance of cooperative shares by the Local Savings Companies since January 1, 2018 resulted in an increase in retained earnings of €615 million. Redemptions of perpetual deeply subordinated notes in 2017 amounted to: (3) €990 million for BPCE SA group issues; this redemption led to the reversal of the capital gain recorded in equity in the amount of €444 million (see Note 5.15.2); ● €276 million for the redemption by Natixis of a perpetual deeply subordinated note issued in 2007, which was fully subscribed for by non-controlling interests. This redemption led to the reversal of the ● capital gain recorded in equity in the amount of €87 million (€62 million attributable to equity holders of the parent and €25 million attributable to non-controlling interests). Including a reduction in retained earnings of €490 million and an increase in the translation difference of €5 million (-€221 million attributable to equity holders of the parent and -€264 million attributable to (4) non-controlling interests) arising from the impact of acquisitions and other movements. This reduction was mainly due to the following: -€292 million (-€80 million attributable to equity holders of the parent and -€212 million attributable to non-controlling interests) for the purchase of 40% of BPCE Assurances from non-controlling interests; ● -€122 million (-€87 million attributable to equity holders of the parent and -€35 million attributable to non-controlling interests) for stock options granted to minority shareholders in the Australian company ● Investor Mutual Limited (IML), in PayPlug and for the results of the public bid for the shares in Dalenys group held by minority shareholders made in December 2017; -€111 million (-€79 million attributable to equity holders of the parent and -€32 million attributable to non-controlling interests) for the change in the fair value of stock options granted to the minority ● shareholders of:
DNCA France (-€45 million attributable to equity holders of the parent and -€18 million attributable to non-controlling interests), - Ciloger (-€11 million attributable to equity holders of the parent and -€5 million attributable to non-controlling interests), - Dorval (-€21 million attributable to equity holders of the parent and -€8 million attributable to non-controlling interests), - Darius (-€5 million attributable to equity holders of the parent and -€2 million attributable to non-controlling interests), - Lakooz (+€3 million attributable to equity holders of the parent and +€1 million attributable to non-controlling interests); - +€40 million impact on non-controlling interests attributable to the inclusion of Bretagne Participations and Sodero Participations in the consolidation scope. ●
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Registration document 2018
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