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

Details are as follows:

€ million 12/31/2014 12/31/2013 Change
Share capital 246.2 246.2 0.0
Reserves 8,092.9 7,045.3 1,047.6
Treasury stock (344.1) (344.1) 0.0
Total 7,995.0 6,947.40 1,047.6

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  29.5  
 - Banca Leonardo (11.2)  
 - Perella Weinberg Funds  6.0  
 - Other financial assets 50.3  
Reclassification of fair value to income statement:    
 - Sequana 19.8  
 - Perella Weinberg Funds  (13.0)  
 - The Black Ant Value Fund  (4.8)  
 - Other financial assets 1.4  
Measurement of EXOR's derivative financial instruments (11.7)  
Dividends paid by EXOR  (74.5)  
Attributable other net changes recorded in equity, shown by EXOR, its subsidiaries and the investments consolidated and accounted for using the equity method    
 - Acquisition of interests in subsidiaries by the FCA Group 387.7 (a)
 - FCA capital increase 248.3  
 - Exchange differences on translating foreign operations 594.5  
 - Cash flow hedge reserve (net of deferred taxes) (105.9)  
 - Defined benefits plans remeasurement reserve (net of deferred taxes) (157.4)  
 - Other (234.5)  
Profit attributable to owners of the parent  323.1  
Net change during the year 1,047.6  
Balance at December 31, 2014 7,995.0  
(a) EXOR’s share of the increase in the equity attributable to owners of FCA principally following the acquisition of the remaining 41.5% ownership interest in FCA US from the VEBA Trust, with the consequent reduction in the equity attributable to non-controlling interests.

EXOR S.p.A. stock option plans

The composition and the change in the stock option plans are as follow:

      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 (1,011,000)   (1,133,132) (180,790)
Balance at December 31, 2014 6,112,000 (a) 1,377,600 166,666
Cost referring to the year (€ million):      
 - personnel costs 0.7   0.4 0.6
 - compensation to the Chairman and Chief Executive Officer 1.2   0.4 -
Total 1.9   0.8 0.6
(a) Corresponding to 1,619,680 shares.

The reduction in the number of options is mainly due to the reduction in staff and, as regards “Company Performance”, failure to reach the performance targets 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