Reebok 2013 Annual Report Download - page 221

adidas Group
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2013 Annual Report
Consolidated Financial Statements
217
2013
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04.8
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Notes
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Notes to the Consolidated Statement of Financial Position
All equities and bonds are traded freely and have a quoted market price in an active market. The other assets
consist predominantly of foreign insurance products.
At each balance sheet date, the company analyses the over- or underfunding and, where appropriate, adjusts
the composition of plan assets.
In the next financial year, the adidas Group intends to transfer assets to a trustee via a Contractual Trust
Arrangement (CTA) for the purpose of fiduciary management and insolvency insurance with regard to part of
the pension obligations of adidas AG. In this respect, the registered association “adidas Pension Trust e.V.” was
established in December 2013.
Other non-current liabilities consist of the following:
Other non-current liabilities
(€ in millions) Dec. 31, 2013 Dec. 31, 2012
Liabilities due to personnel 7 9
Deferred income 22 23
Sundry 0 2
Other non-current liabilities 29 34
The nominal capital of adidas AG (“the company”) has remained unchanged since December 31, 2012. As at the
balance sheet date, and in the period beyond, up to and including February 14, 2014, it amounted to € 209,216,186
divided into 209,216,186 registered no-par-value shares (“registered shares”) and is fully paid in.
Each share grants one vote and is entitled to dividends starting from the beginning of the year it was issued.
Treasury shares held directly or indirectly are not entitled to dividend payment in accordance with § 71b German
Stock Corporation Act (Aktiengesetz – AktG). Neither at the balance sheet date nor at February 14, 2014 does the
company hold any treasury shares.
Authorised Capital
The Executive Board of adidas AG did not utilise the existing amounts of authorised capital of up to € 95 million
in the 2013 financial year or in the period beyond the balance sheet date up to and including February 14, 2014.
The following overview of the existing amounts of authorised capital does not contain the cancellation of the
Authorised Capital 2009/I, 2010 and 2011, resolved by the Annual General Meeting on May 8, 2013, which had also
not been made use of up to May 8, 2013.
The authorised capital of the company, which is set out in § 4 sections 2, 3 and 4 of the Articles of Association
as at the balance sheet date, entitles the Executive Board, subject to Supervisory Board approval, to increase the
nominal capital
until June 30, 2018
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by issuing new shares against contributions in cash once or several times by no more than € 50 million and,
subject to Supervisory Board approval, to exclude residual amounts from shareholders’ subscription rights
(Authorised Capital 2013/I);
until June 30, 2016
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by issuing new shares against contributions in kind once or several times by no more than € 25 million and,
subject to Supervisory Board approval, to exclude shareholders’ subscription rights (Authorised Capital 2013/II);
until June 30, 2018
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by issuing new shares against contributions in cash once or several times by no more than € 20 million and,
subject to Supervisory Board approval, to exclude residual amounts from shareholders’ subscription rights and to
exclude shareholders’ subscription rights when issuing the new shares at a value not essentially below the stock
market price of shares with the same features; this exclusion of subscription rights can also be associated with
the listing of the company’s shares on a foreign stock exchange (Authorised Capital 2013/III). The authorisation to
exclude subscription rights pursuant to the previous sentence may, however, only be used to the extent that the
pro-rata amount of the new shares in the nominal capital together with the pro-rata amount in the nominal capital
of other shares which have been issued by the company since May 8, 2013, subject to the exclusion of subscription
rights pursuant to or in accordance with § 186 section 3 sentence 4 AktG on the basis of an authorised capital or
following a repurchase, or for which conversion or subscription rights or conversion or subscription obligations
were granted after May 8, 2013, through the issuance of convertible bonds and/or bonds with warrants, with
24
Other non-current
liabilities
25
Shareholders’ equity