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

Details are as follows:

€ million 6/30/2015 12/31/2014 Change
Share capital 246.2 246.2 0.0
Reserves 8,645.9 8,092.9 553.0
Treasury stock (344.1) (344.1) 0.0
Total 8,548.0 7,995.0 553.0

Details of changes during the period are as follows:

€ million  
Balance at December 31, 2014  7,995.0
Fair value adjustments to investments and other financial assets:  
 - The Black Ant Value Fund  26.2
 - Allied World Assurance Company Holdings 23.0
 - PartnerRe (10.5)
 - Other financial assets 30.0
   
Reclassification of fair value to income statement:  
 - Allied World Assurance Company Holdings (60.4)
 - The Black Ant Value Fund  (6.1)
 - Other financial assets (4.3)
   
Measurement of EXOR's derivative financial instruments 5.9
   
Dividends paid by EXOR  (77.8)
Attributable other net changes recorded in equity, shown by EXOR, its subsidiaries and the investments consolidated and accounted for using the equity method  
 - Exchange differences on translating foreign operations 445.0
 - Other (37.3)
   
Profit attributable to owners of the parent  219.3
Net change during the period 553.0
Balance at June 30, 2015 8,548.0

EXOR S.p.A. stock option plans

The change during the first half of 2015 is as follows:

      Stock Option Plan
2012-2021
  Stock Option Plan 2008-2019   Company Performance Long Term Stock Grant 
Balance at December 31, 2014 6,112,000   1,377,600 166,666 
Options awarded and forfeited 0   (344,400) 1,500(a)
Balance at June 30, 2015 6,112,000 (b) 1,033,200 168,166 
Cost referring to the first half 2015 (€ million):         
 - personnel costs 0.3   0.2 0.3 
 - compensation to the Chairman and Chief Executive Officer 0.6   0.1 0.0 
Total 0.9   0.3 0.3 
Cost referring to the first half 2014 (€ 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 
Net change during the period (0.1)   (0.1) 0.0 
(a) Of which 4,500 options awarded and 3,000 options forfeited. (b) Corresponding to 1,619,680 shares.

The reduction in the number of “Company Performance” options is as a result of not having reached the specific performance targets linked to the change in EXOR’s NAV, which was lower than the change in the MSCI World Index in Euro in 2014.

Commercial Register No.64236277 Legal notes | Credits