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

Details are as follows:

€ million 12/31/2013 12/31/2012 Change
Share capital 246.2 246.2 0.0
Reserves 7,045.3 6,161.6 883.7
Treasury stock (344.1) (239.0) (105.1)
Total 6,947.4 6,168.8 778.6

Details of the changes during the year are as follows:

€ million  
Balance at December 31, 2012 - reported 7,164.4
Effect arising from the application of the amendment to IAS 19 - Employee benefits (995.6)
Balance at December 31, 2012 6,168.8
Fair value adjustments of investments and other financial assets:  
 - SGS S.A. (note 8) 75.6
 - The Black Ant Value Fund (note 9) 74.5
 - Perella Weinberg Funds (note 9) 2.1
 - Other investments and other financial assets 17.4
Transfer of fair value to income statement  
 - SGS S.A. (note 8) (1,575.2)
 - Perella Weinberg Funds (note 9) (16.8)
 - The Black Ant Value Fund (note 9) (1.2)
 - Other investments (0.4)
   
Measurement of EXOR S.p.A.'s derivative financial instruments 26.6
Treasury stock purchases (105.1)
Attributable exchange differences on translating foreign operations (-€395.1 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  (+€670.2 million)  275.1
Dividends paid by EXOR S.p.A. (78.5)
Profit attributable to owners of the parent 2,084.5
Net change during the year 778.6
Balance at December 31, 2013 6,947.4

Treasury stock

Within the framework of the treasury stock buyback program resolved by the board of directors’ meeting on May 29, 2012 and subsequently modified on February 11, 2013 by the board of directors’ meeting, which increased the maximum amount authorized by the buyback program from €50 million to €200 million, in the first half of 2013 EXOR purchased 3,790,857 ordinary shares (2.36% of the class) at the average cost per share of €21.96 for a total of €83.3 million, 823,400 preferred shares (1.07% of the class) at the average cost per share of €21.66 for a total of €17.8 million, in addition to 184,100 savings shares (2.01% of the class) at the average cost per share of €21.83 for a total of €4 million. The overall investment was €105.1 million.

On December 31, 2013, following the mandatory conversion of the preferred and savings shares into ordinary shares, carried out on June 24, 2013, EXOR S.p.A. held 23,883,746 ordinary treasury shares (9.7% of the class) at the average cost per share of €14.41 for a total of €344.1 million.

Commercial Register No.64236277 Note legali | Credits