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76 • Consolidated financial statements
PANDORA ANNUAL REPORT 2016
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER
Share
Share Treasury Translation Hedging Dividend Retained
Total
DKK million
Notes
capital
premium shares
reserve
reserve proposed earnings
equity
2016
Equity at 1 January
122
-
-4,152
1,134
-111
1,511
7,635
6,139
Net profit for the year
-
-
-
-
-
-
6,025
6,025
Exchange rate adjustments of investments in subsidiaries
-
-
-
121
-
-
-
121
Fair value adjustment of hedging instruments
-
-
-
-
47
-
-
47
Tax on other comprehensive income
2.5
-
-
-
-
-10
-
-
-10
Other comprehensive income, net of tax
-
-
-
121
37
-
-
158
Total comprehensive income for the year
-
-
-
121
37
-
6,025
6,183
Fair value adjustments of obligation to acquire non-controlling interests
-
-
-
-
-
-
-123
-123
Share-based payments
2.4
-
-
-
-
-
-
76
76
Share-based payments (exercised)
-
-
230
-
-
-
-229
1
Share-based payments (tax)
-
-
-
-
-
-
25
25
Purchase of treasury shares
-
-
-4,000
-
-
-
-
-4,000
Reduction of share capital
-5
-
3,588
-
-
-
-3,583
-
Dividend paid
4.2
-
-
-
-
-
-1,511
4
-1,507
Dividend proposed
4.2
-
-
-
-
-
1,007
-1,007
-
Equity at 31 December
117
-
-4,334
1,255
-74
1,007
8,823
6,794
2015
Equity at 1 January
128
1,229
-2,679
885
-156
1,088
6,537
7,032
Net profit for the year
-
-
-
-
-
-
3,674
3,674
Exchange rate adjustments of investments in subsidiaries
-
-
-
249
-
-
-
249
Fair value adjustment of hedging instruments
-
-
-
-
23
-
-
23
Tax on other comprehensive income
2.5
-
-
-
-
22
-
-
22
Other comprehensive income, net of tax
-
-
-
249
45
-
-
294
Total comprehensive income for the year
-
-
-
249
45
-
3,674
3,968
Transfers¹
-
-1,229
-
-
-
-
1,229
-
Share-based payments
2.4
-
-
-
-
-
-
75
75
Share-based payments (exercised)
-
-
266
-
-
-
-266
-
Share-based payments (tax)
-
-
-
-
-
-
52
52
Purchase of treasury shares
-
-
-3,900
-
-
-
-
-3,900
Reduction of share capital
-6
-
2,161
-
-
-
-2,155
-
Dividend paid
4.2
-
-
-
-
-
-1,088
-
-1,088
Dividend proposed
4.2
-
-
-
-
-
1,511
-1,511
-
Equity at 31 December
122
-
-4,152
1,134
-111
1,511
7,635
6,139
¹ The ’Share premium’ is a distributable reserve under Danish regulation and has therefore been transferred to ’Retained earnings’ in 2015.