ING Direct 2013 Annual Report Download - page 101

Notes to the consolidated annual accounts of ING Group continued
The impact of changes in IAS 19 on previous reporting years is as follows:
Impact on Shareholders’ equity
31 December
2012
31 December
2011
1 January
2011
Shareholders’ equity (before change in accounting policy) 54,357 46,663 40,904
Change in Other assets - net defined benefit asset –3,032 758 –979
Change in Other liabilities - net defined benefit liability –484 –352
Change in Liabilities held for sale –7
Change in net defined benefit asset/liability before tax –3,523 406 –979
Tax effect 943 –31 240
Shareholders’ equity (after change in accounting policy) 51,777 47,038 40,165
Impact on Net result
2012 2011
Net result from continuing operations (before change in accounting
policy) 2,806 5,038
Impact on staff expenses - Pension and other staff-related benefit
costs 354 19
Tax effect –87 –4
Discontinued operations after tax (after change in accounting policy) 1,197 815
Net result from continuing and discontinued operations (after change
in accounting policy) 4,270 5,868
Impact on Other comprehensive income
2012 2011
Total amount recognised directly in equity (before change in
accounting policy) 3,995 824
Remeasurement of the net defined benefit asset/liability –3,577 452
Tax effect 716 –91
Total amount recognised directly in equity (after change in
accounting policy) 1,134 1,185
Impact on basic earnings per ordinary share
Amount (in millions of euros)
Weighted average number of
ordinary shares out-standing during
the period (inmillions) Per ordinary share (in euros)
2012 2011 2012 2011 2012 2011
Basic earnings (before change in accounting policy) 3,252 4,246 3,802.4 3,789.1 0.86 1.12
Impact of change in accounting policy 267 15 0.07
Basic earnings (after change in accounting policy) 3,519 4,261 3,802.4 3,789.1 0.93 1.12
Impact on diluted earnings per ordinary share
Amount (in millions of euros)
Weighted average number of
ordinary shares out-standing during
the period (inmillions) Per ordinary share (in euros)
2012 2011 2012 2011 2012 2011
Diluted earnings (before change in accounting
policy) 3,252 4,246 3,802.4 3,789.1 0.86 1.12
Impact of change in accounting policy 267 15 0.07
Diluted earnings (after change in accounting policy) 3,519 4,261 3,802.4 3,789.1 0.93 1.12
The change in accounting policy affects the balance sheet lines Other assets, Shareholders’ equity (parent), Liabilities held for sale and
Other liabilities. Reference is made to Note 13 ‘Other assets’, Note 22 ‘Other liabilities’, Note 44 ‘Pensions and other post-employment
benefits and Note 45 ‘Taxation’ for the financial impact as at 1 January 2012.
The impact of changes in IAS 19 on 2013 is mainly related to the recognition of the Net defined benefit asset/liability remeasurement in
Equity. As disclosed in Note 14 ‘Equity’ the amount of the Net defined benefit asset/liability remeasurement reserve was EUR –3,766
million at 31 December 2013 (31 December 2012: EUR –2,861 million). Without the changes in IAS 19, this negative reserve would not
have been deducted from Equity.
99ING Group Annual Report 2013
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information