Page 117 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Consolidated Financial Statements of the Enav Group 115

15. Shareholders’ equity

Shareholders’ equityat 31 December 2014 amounted to ¤1,234,062
thousand. Changes during the year can be found in the consolidated
statement of changes in equity.

The following table provides details of the equity accounts.

Share capital 31.12.2014 31.12.2013 Change
1,121,744 1,121,744 0
Legal reserve 13,935 11,409
36,359 36,359 2,526
Other reserves 3,428 (17) 0
(727) (727)
Translation reserve 3,445
(9,683) (4,613) 0
IFRS First-time Adoption
(FTA) reserve 1,348 (486) (5,070)
27,652 28,612
Reserve for actuarial gains/ 40,006 49,568 1,834
(losses) on employee (960)
benefits 1,234,062 1,241,849 (9,562)

Cash flow hedge reserve 0 0 (7,787)

Retained earnings/ 0 0 0
(accumulated losses)
0 0 0
Net income for the year 1,234,062 1,241,849
0
Total equity attributable (7,787)
to equity holders of the
parent

Capital and reserves
attributable to non-
controlling interests

Net income attributable
to non-controlling interests

Total equity attributable
to non-controlling interests

Total equity

Share capital, fully subscribed and paid-in by the sole shareholder, the
Ministry of Economy and Finance, consists of 1,121,744,385 ordinary shares
each of nominal value 1 euro.

Thelegal reserve amounts to ¤13,935 thousand, representing an increase
of ¤2,526 thousand due to the allocation of 5% of 2013 net income.

The other reservesconsist of capital grants received in the period
1996/2002 and originally stated net of deferred taxes which have been
discharged. This reserve accordingly became availableand was reclassified