5.5.5Shareholders’ Equity
For an explanation of the shareholders equity, reference is made to the consolidated statement of changes in equity and 5.3.23 Equity Attributable to Shareholders.
Legal reserve
|
31 December 2016 |
31 December 2015 |
||
|---|---|---|---|
|
Joint venture equity non-distributable |
947 |
827 |
|
|
Capitalized development expenditure |
18 |
15 |
|
|
Translation reserve |
(45) |
(26) |
|
|
Cash flow hedges |
(212) |
(263) |
|
|
Total |
708 |
553 |
Under the Dutch guidelines for financial reporting which apply to the Company statement of financial position, a legal reserve must be maintained for the above-mentioned items.
Proposed appropriation of profits
With the approval of the Supervisory Board, it is proposed that the result shown in the Company income statement be appropriated as follows (in US$):
Appropriation of result
|
2016 |
|||
|---|---|---|---|
|
Profit/Loss attributable to shareholders |
182 |
||
|
In accordance with Article 29 clause 4 to be transferred to retained earnings |
136 |
||
|
At the disposal of the General Meeting of Shareholders |
46 |
It is proposed that US$ 46 million of the profit of the year ended December 31, 2016 be distributed among the shareholders.