Reebok 2013 Annual Report Download - page 224

adidas Group
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2013 Annual Report
Consolidated Financial Statements
220
2013
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04.8
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Notes
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Notes to the Consolidated Statement of Financial Position
Reserves
Reserves within shareholders’ equity are as follows:
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Capital reserve: primarily comprises the paid premium for the issuance of share capital as well as the equity
component of issued convertible bonds.
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Cumulative currency translation differences: comprises all foreign currency differences arising from the
translation of the financial statements of foreign operations.
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Hedging reserve: comprises the effective portion of the cumulative net change in the fair value of cash flow
hedges related to hedged transactions that have not yet occurred as well as of hedges of net investments in
foreign subsidiaries.
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Other reserves: comprise the remeasurements of defined benefit plans [consisting of the cumulative net
change of actuarial gains or losses relating to the defined benefit obligations, the return on plan assets (excluding
interest income) and the asset ceiling effect] as well as expenses recognised for share option plans and effects
from the acquisition of non-controlling interests.
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Retained earnings: comprise the accumulated profits less dividends paid.
Distributable profits and dividends
Distributable profits to shareholders are determined by reference to the retained earnings of adidas AG and
calculated under German Commercial Law.
Based on the resolution of the 2013 Annual General Meeting, the dividend for 2012 was € 1.35 per share (total
amount: € 282 million). The Executive Board of adidas AG will propose to shareholders a dividend payment of
€ 1.50 per dividend-entitled share for the year 2013 to be made from retained earnings of € 424 million reported
in the financial statements of adidas AG according to the German Commercial Code as at December 31, 2013. The
subsequent remaining amount will be carried forward.
As at December 31, 2013, 209,216,186 dividend-entitled shares exist, resulting in a dividend payment of
€ 314 million.
This line item within equity comprises the non-controlling interests in several subsidiaries, which are not directly
or indirectly attributable to adidas AG.
Non-controlling interests are assigned to six subsidiaries as at December 31, 2013 and 2012, respectively
(see Attachment II to the consolidated financial statements
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SEE SHAREHOLDINGS OF ADIDAS AG, HERZOGENAURACH,
P. 240). These subsidiaries were partly acquired in connection with the acquisition of Reebok and partly through
purchases or foundations in the last years.
Operating leases
The Group leases primarily retail stores as well as offices, warehouses and equipment. The contracts regarding
these leases with expiration dates of between 1 and 12 years partly include renewal options and escalation
clauses. Rent expenses, which partly depend on net sales, amounted to € 672 million and € 637 million for the
years ending December 31, 2013 and 2012, respectively.
Future minimum lease payments for minimum lease durations on a nominal basis are as follows:
Minimum lease payments for operating leases
(€ in millions) Dec. 31, 2013 Dec. 31, 2012
Within 1 year 447 456
Between 1 and 5 years 945 996
After 5 years 277 346
Total 1,669 1,798
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Non-controlling interests
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Leasing and service
arrangements