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Statement of Changes in Equity

of the Volkswagen Group for the period January 1 to December 31, 2017

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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

1

Volkswagen AG recorded an inflow of cash funds amounting to €3,500 million, less a discount of €4 million and transaction costs of €23 million, from the hybrid capital issued in June 2017. Additionally, there were noncash effects from the deferral of taxes amounting to €8 million. The hybrid capital is required to be classified as equity instruments granted.

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

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

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Balance at Jan. 1, 2017

  

1,283

  

14,551

  

70,446

  

−1,117

  

−457

  

−2

  

417

  

7,567

  

92,689

  

221

  

92,910

Earnings after tax

  

–

  

–

  

11,354

  

–

  

–

  

–

  

–

  

274

  

11,628

  

10

  

11,638

Other comprehensive income, net of tax

  

–

  

–

  

586

  

−2,106

  

3,982

  

93

  

−251

  

–

  

2,304

  

1

  

2,305

Total compre­hensive income

  

–

  

–

  

11,940

  

−2,106

  

3,982

  

93

  

−251

  

274

  

13,932

  

11

  

13,943

Capital increases1

  

–

  

–

  

–

  

–

  

–

  

–

  

–

  

3,481

  

3,481

  

–

  

3,481

Dividends payment

  

–

  

–

  

−1,015

  

–

  

–

  

–

  

–

  

−311

  

−1,326

  

−5

  

−1,332

Capital transactions involving a change in ownership interest

  

–

  

–

  

–

  

–

  

–

  

–

  

–

  

–

  

–

  

–

  

–

Other changes

  

–

  

–

  

−4

  

–

  

–

  

–

  

–

  

78

  

73

  

1

  

75

Balance at Dec. 31, 2017

  

1,283

  

14,551

  

81,367

  

−3,223

  

3,525

  

91

  

166

  

11,088

  

108,849

  

229

  

109,077

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