Chrysler 2015 Annual Report Download - page 249

2015 | ANNUAL REPORT 249
13. Cash and cash equivalents
At December 31, 2015, Cash and cash equivalents totaled €2 million (€11 million as at December 31, 2014) and are
represented by amounts held in both Euro and U.S. Dollar. The carrying amount of Cash and cash equivalents is
deemed to be in line with their fair value.
Credit risk associated with Cash and cash equivalents is considered limited as the counterparties are leading national
and international banks.
14. Equity
Changes in shareholders’ equity during 2015 were as follows:
(€ million)
Share
Capital
Capital
Reserves
Legal
Reserves:
Cumulative
translation
adjustment
reserve /
OCI
Legal
Reserves:
Other
Retained
profit/
(loss)
Profit/
(loss) for
the year
Total
equity
At December 31, 2013 4,477 — (618) 6,699 (3,136) 904 8,326
Allocation of prior year result — — — — 904 (904) —
Capital increase 2 989 — — — — 991
Merger (4,269) 4,269 — — — — —
Mandatory convertible securities — — — 1,910 — — 1,910
Exit Rights (193) (224) — — — — (417)
Share-based payment — 35 — — (31) — 4
Purchase of shares in subsidiaries from non-
controlling interests — — (308) 880 753 — 1,325
Net profit for the year — — — — — 568 568
Current period change in OCI, net of taxes — — 666 — 52 — 718
Legal Reserve — (1,327) — 1,327 — — —
At December 31, 2014 17 3,742 (260) 10,816 (1,458) 568 13,425
Allocation of prior year result — — — — 568 (568) —
Distributions — (17) — — — — (17)
Share-based payments — 80 — — — — 80
Ferrari initial public offering — — — — 866 — 866
Net profit for the year — — — — — 334 334
Current period change in OCI, net of taxes — — 1,569 — — — 1,569
Legal Reserve — — — 928 (928) — —
Other changes — — — — (165) — (165)
At December 31, 2015 17 3,805 1,309 11,744 (1,117) 334 16,092
Shareholders’ equity increased by €2,667 million in 2015, primarily due to movements in OCI of €1,569 million relating
to foreign exchange differences and the remeasurement of defined benefit plans, the impact of the Ferrari 10 percent
initial public offering of €866 million and profit for the year of €334 million.
Shareholders’ equity increased by €5,099 million in 2014 primarily due to: the issuance of mandatory convertible
securities (see notes to the Consolidated Financial Statements) resulting in an increase of €1,910 million, the
placement of 100 million common shares and the exercise of stock options resulting in an aggregate increase of €991
million, the positive impact of €1,325 million from the acquisition of the remaining 41.5% of FCA US, the increase in
OCI (mainly driven by cumulative exchange differences on translating foreign operations of €782 million) and profit for
the year of €568 million, net of the €417 million reduction for the reimbursement to Fiat shareholders who exercised
the cash exit rights upon the Merger.