Logitech 2014 Annual Report Download - page 226

to subscribe for the bonds by preference is limited or withdrawn, the bonds must be issued at market conditions,
the exercise period of the conversion rights must not exceed 7 years from the date of issuance of the bonds, and
the conversion price must be set at a level that is not lower than the market price of the shares preceding the
determination of the final conditions for the bonds.
2.3 Changes in Shareholders’ Equity
As of March 31, 2014, 2013 and 2012, balances in shareholders’ equity of Logitech International S.A., based
on the parent company’s Swiss Statutory Financial Statements, were as follows (in thousands):
As of March 31,
2014 2013 2012
Share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 43,277 CHF 43,277 CHF 47,902
Legal reserves:
General reserve
- Reserve for capital contributions . . . . . . . . . . . . . . . . . . . . 1,264 1,264 9,580
- Other general reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,580 9,580 —
Reserve for treasury shares
- Reserve for treasury shares from capital contributions . . . — — 116,070
- Other general reserves for treasury shares . . . . . . . . . . . . . 104,808 172,392 217,375
Total legal reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,652 183,236 343,025
Unappropriated retained earnings . . . . . . . . . . . . . . . . . . . . . . . 458,537 354,602 460,919
Total shareholders’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 617,466 CHF 581,115 CHF 851,846
The following table shows authorized and conditional share capital as of the last three fiscal year ends
(in thousands):
As of March 31,
2014 2013 2012
Authorized share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF — CHF — CHF —
First conditional share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 6,250 CHF 6,250 CHF 6,250
Second conditional share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 6,250 CHF 6,250 CHF 6,250
For information on Logitech’s shareholders’ equity as of March 31, 2014 and 2013, refer to the Swiss Statutory
Balance Sheets on page 283 of our Annual Report, Invitation and Proxy Statement.
During fiscal years 2014, 2013 and 2012, the Company had the following approved share buyback programs
in place (in thousands):
Approved
Share Buyback Program Shares Amounts
March 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,311 $ 250,000
September 2008 - amended(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,465 177,030
September 2008(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,344 250,000
54,120 $ 677,030
(1) Expired in August 2013
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