Adidas 1997 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 1997 Adidas annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 63

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63

43
The following is a summary of the consolidated statement of shareholders’ equity for the years
ended December 31, 1997, 1996 and 1995:
Retained
earnings
(including
foreign
currency
Share Capital translation
(in DM 000) capital surplus adjustments)1Total
Balance at January 1, 1995 147,800 93,727 181,505 423,032
Net effect on equity of aIH merger – – (83,427) (83,427)
Net effect on equity of changes in
companies included in consolidation – – (451) (451)
Share capital increase 78,946 (78,946) – –
Net income – – 244,914 244,914
Other – net, primarily translation adjustments – – (7,482) (7,482)
Balance at December 31, 1995 226,746 14,781 335,059 576,586
Net effect on equity of changes in
companies included in consolidation – – 84 84
Net income – – 314,069 314,069
Dividend payment – – (11,338) (11,338)
Other – net, primarily translation adjustments – – 24,927 24,927
Balance at December 31, 1996 226,746 14,781 662,801 904,328
Net effect on equity of changes in
companies included in consolidation – – 42 42
Net income – – 464,954 464,954
Dividend payment – – (49,884) (49,884)
Other – net, primarily translation adjustments – – 32,413 32,413
Balance at December 31, 1997 226,746 14,781 1,110,326 1,351,853
1Amounts related to foreign currency translation adjustments are included in Retained earnings
as it is not practicable to determine the cumulative effects of these adjustments.
At the annual general meeting of the Company held on May 28, 1997, the Company’s shareholders
approved the distribution of a dividend of DM 1.10/share.
Earnings available for dividend distributions are determined by reference to the retained earnings
of adidas-Salomon AG calculated under German commercial law.
adidas-Salomon AG and Subsidiaries
Notes to Consolidated Financial Statements