Adidas 1996 Annual Report Download - page 52

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Further, the articles of association removed certain restrictions on the transferability
of the Company’s common shares. These resolutions were entered into the trade
register on October 25, 1995.
Sogedim S.A., the Company’s former principal shareholder, no longer owns a
majority of the shares, but still holds more than 25% of the Company’s common
shares.
The following is a summary of the consolidated statement of share
holders’ equity for
the years ended December 31, 1996, 1995 and 1994:
Retained
earnings
(including
foreign
currency
Share Capital translation
(in DM 000) capital surplus adjustments)1Total
Balance at January 1, 1994 147,800 93,727 82,962 324,489
Net effect on equity of changes in companies
included in consolidation – – (506) (506)
Net income – – 117,317 117,317
Other – net, primarily translation adjustments – – (18,268) (18,268)
Balance at December 31, 1994 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
1 Amounts 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 30, 1996, the Com-
pany’s shareholders approved the distribution of a dividend of DM 0.25/share.
52