9. Capital issued and reserves attributable to owners of the parent

Details are as follows:

€ million 6/30/2014 12/31/2013 Change
Share capital 246.2 246.2 0.0
Reserves 7,495.8 7,045.3 450.5
Treasury stock (344.1) (344.1) 0.0
Total 7,397.9 6,947.4 450.5

Details of changes during the period are as follows:

€ million    
Balance at December 31, 2013 6,947.4  
Fair value adjustments to investments and other financial assets:    
 - The Black Ant Value Fund  21.8  
 - Sequana (7.1)  
 - Perella Weinberg Funds
4.4  
 - Other investments and other financial assets 11.5  
Transfer of fair value to income statement:    
 - Sequana 26.9  
 - Perella Weinberg Funds (7.6)  
 - The Black Ant Value Fund  (4.8)  
 - Other investments (0.5)  
Measurement of EXOR S.p.A.'s derivative financial instruments (4.5)  
Dividends paid by EXOR S.p.A. (74.5)  
Attributable exchange differences on translating foreign operations (+€102 million) and other net changes recorded in equity, shown by EXOR S.p.A., its subsidiaries and the investments consolidated and accounted for using the equity method (+€325.5 million) 427.5 (a)
Profit attributable to owners of the parent 57.4  
Net change during the period 450.5  
Balance at June 30, 2014 7,397.9  
(a) Includes principally EXOR’s share of the increase in the equity attributable to owners of the parent of the Fiat Group following the acquisition of the remaining 41.5% ownership interest in Chrysler from the VEBA Trust, with the consequent reduction in the equity attributable to non-controlling interests.

EXOR S.p.A. stock option plans

The change during the first half of 2014 is as follows:

      Stock Option Plan 2012/2021
  Stock Option Plan 2008/2019   Company Performance Long Term Stock Grant
Balance at December 31, 2013 7,123,000   2,510,732 347,456
Options forfeited (636,000)   (1,133,132) (180,790)
Balance at June 30, 2014 6,487,000 (a) 1,377,600 166,666
Cost referring to the period (€ million):        
 - personnel costs 0.4   0.2 0.3
 - compensation to the Chairman and Chief Executive Officer 0.6   0.2 -
Total 1.0   0.4 0.3
(a) Corresponding to 1,719,055 shares.

The reduction in the number of options is attributable to the reduction in the work force and, with regard to “Company Performance”, to failure to reach the specific performance objectives linked to the change in EXOR’s NAV which was lower than the change in the MSCI World Index in Euro.

Commercial Register No.64236277 Legal notes | Credits