10. Issued capital and reserves attributable to owners of the parent
Details are as follows:
| € million | 12/31/2012 | 12/31/2011 | Change |
|---|---|---|---|
| Share capital | 246,2 | 246,2 | 0,0 |
| Reserves | 7.157,2 | 6.396,2 | 761,0 |
| Treasury stock | (239,0) | (239,0) | 0,0 |
| Total | 7.164,4 | 6.403,4 | 761,0 |
Details of the changes during the year are as follows:
| € million | |
|---|---|
| Balance at December 31, 2011 | 6.403,4 |
| Fair value adjustments of investments and other financial assets: | |
| - SGS S.A. (note 8) | 468,3 |
| - The Black Ant Value Fund, (net of deferred taxes for € 0.3 million) (note 9) | 23,0 |
| - Perella Weinberg Funds (note 9) | 5,7 |
| - Other investments and other financial assets | (10,3) |
| Measurement of EXOR S.p.A.'s derivative financial instruments | (21,1) |
| Attributable exchange differences on translating foreign operations (-€145 million) and other net changes recorded in equity, shown by the investments consolidated and accounted for by the equity (+€ 122.3 million) |
(22,7) |
| Dividends paid by EXOR S.p.A. | (80,1) |
| Profit attributable to owners of the parent | 398,2 |
| Net change during the year | 761,0 |
| Balance at December 31, 2012 | 7.164,4 |
Treasury stock
At December 31, 2012, EXOR S.p.A. held the following treasury stock, unchanged compared with December 31, 2011:
| % of | Carrying amount | |||
|---|---|---|---|---|
| Class of shares | Number of shares | class | Per share (€) | Total (€ ml) |
| Ordinary | 6.729.000 | 4,20 | 14,03 | 94,4 |
| Preferred | 11.690.684 | 15,22 | 11,70 | 136,8 |
| Savings | 665.705 | 7,26 | 11,69 | 7,8 |
| 239,0 | ||||
EXOR S.p.A. stock option and stock grant plans
The changes in EXOR’s stock option plans during 2012 are commented below.
Under the EXOR 2008-2019 Stock Option Plan 848,000 options were granted to a new recipient corresponding to 224,720 EXOR ordinary shares and 350,000 options were forfeited relating to three recipients corresponding to a 92,750 EXOR ordinary shares. At December 31, 2012, 7,423,000 options were outstanding corresponding to 1,967,095 ordinary shares. The cost referring to the year is €2.1 million (of which €1.2 million is classified as compensation to the Chairman and Chief Executive Officer and €0.9 million as personnel costs).
On May 29, 2012, the EXOR shareholders’ meeting approved the new long-term incentive plan: the Long-Term Stock Grant and the Company Performance Stock Option.
Under the first component denominated “Long-Term Stock Grant”, 347,456 options were granted to thirty-one recipients. The cost referring to the period, recorded in personnel costs, was €0.4 million.
Under the second component denominated “Company Performance Stock Option”, 750,000 rights were granted to the Chairman and Chief Executive Officer and another 1,760,732 options to ten recipients. The cost for the period is €0.8 million (of which €0.3 million is classified as compensation to the Chairman and Chief Executive Officer and €0.5 million as personnel costs).
