Statement of Changes in Equity

of the Volkswagen Group for the period January 1 to December 31, 2016

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OTHER RESERVES

 

 

 

 

 

 

 

 

€ million

 

Sub­scribed capital

 

Capital reserves

 

Re­tained earnings

 

Cur­rency trans­lation reserve

 

Cash flow hedge reserve

 

Available-for-sale financial assets

 

Equity- accoun­ted invest­ments

 

Equity attribut­able to Volks­wagen AG hybrid capital investors

 

Equity attribut­able to Volks­wagen AG share­holders and hybrid capital investors

 

Noncon­trolling interests

 

Total equity

*

Volkswagen AG recorded an inflow of cash funds amounting to €2,500 million, less a discount of €29 million and transaction costs of €14 million, from the hybrid capital issued in March 2015. Additionally, there were noncash effects from the deferral of taxes amounting to €11 million. The hybrid capital is required to be classified as equity instruments granted. In connection with the maturity and subsequent conversion of the mandatory convertible notes in fiscal year 2015, the notional value of the newly created shares (€65 million) was reclassified from the capital reserves to subscribed capital.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Jan. 1, 2015

 

1,218

 

14,616

 

71,197

 

−1,777

 

−1,715

 

1,263

 

148

 

5,041

 

89,991

 

198

 

90,189

Earnings after tax

 

 

 

−1,582

 

 

 

 

 

212

 

−1,370

 

10

 

−1,361

Other comprehensive income, net of tax

 

 

 

1,729

 

790

 

−2,197

 

−1,278

 

392

 

 

−564

 

2

 

−562

Total comprehensive income

 

 

 

148

 

790

 

−2,197

 

−1,278

 

392

 

212

 

−1,934

 

12

 

−1,922

Capital increases*

 

65

 

−65

 

 

 

 

 

 

2,469

 

2,469

 

 

2,469

Dividends payment

 

 

 

−2,294

 

 

 

 

 

−215

 

−2,509

 

−6

 

−2,516

Capital transactions involving a change in ownership interest

 

 

 

−2

 

0

 

 

 

 

 

−2

 

−1

 

−3

Other changes

 

 

0

 

−8

 

0

 

 

 

2

 

54

 

46

 

7

 

54

Balance at Dec. 31, 2015

 

1,283

 

14,551

 

69,039

 

−987

 

−3,912

 

−16

 

542

 

7,560

 

88,060

 

210

 

88,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Jan. 1, 2016

 

1,283

 

14,551

 

69,039

 

−987

 

−3,912

 

−16

 

542

 

7,560

 

88,060

 

210

 

88,270

Earnings after tax

 

 

 

5,144

 

 

 

 

 

225

 

5,369

 

10

 

5,379

Other comprehensive income, net of tax

 

 

 

−3,657

 

−129

 

3,455

 

14

 

−131

 

 

−448

 

−1

 

−449

Total comprehensive income

 

 

 

1,487

 

−129

 

3,455

 

14

 

−131

 

225

 

4,921

 

9

 

4,930

Capital increases

 

 

 

 

 

 

 

 

 

 

 

Dividends payment

 

 

 

−68

 

 

 

 

 

−291

 

−359

 

−6

 

−364

Capital transactions involving a change in ownership interest

 

 

 

 

 

 

 

 

 

 

 

Other changes

 

 

 

−13

 

 

 

 

6

 

73

 

66

 

8

 

74

Balance at Dec. 31, 2016

 

1,283

 

14,551

 

70,446

 

−1,117

 

−457

 

−2

 

417

 

7,567

 

92,689

 

221

 

92,910

Explanatory notes on equity are presented in the note relating to equity.