Porsche 2012 Annual Report Download - page 201

The options on non-stock company shares contained the positive fair value of the put option
on the remaining shares held by Porsche SE in Porsche Holding Stuttgart GmbH prior to the
contribution of the holding business operations to Volkswagen AG.
Further details on derivative financial instruments are given in note [21].
[13] Income tax assets
The income tax assets are mainly reimbursement claims for tax on investment income (including
solidarity surcharge) which relate to profit distributions or dividends. The line item contains the
tax on investment income (including solidarity surcharge) triggered by the decision to pay out an
advance profit distribution from Porsche Holding Stuttgart GmbH prior to the contribution of the
holding business operations of Porsche SE to Volkswagen AG. The related claims of Porsche SE
to future refunds were assigned to an associate. Reference is made to the section "Consolidated
group" and note [20].
[14] Cash, cash equivalents and time deposits
Bank balances are held at various banks in different currencies. The maximum default risk is
equivalent to the carrying amount of cash, cash equivalents and time deposits.
[15] Equity
The development of equity is presented in the Porsche SE group’s consolidated statement of
changes in equity.
Subscribed capital
Unchanged from the figure at the end of the comparative period, Porsche SE’s subscribed capi-
tal totals €306.25 million and continues to be divided into 153,125,000 ordinary shares and
153,125,000 non-voting preference shares which have been fully paid in. Each share represents
a €1 notional value of the subscribed capital. The preference shares carry an additional dividend
of 0.6 cents per share in the event of there being net profit available for distribution and a corre-
sponding resolution on a distribution.
A capital increase in return for cash contributions was performed in the comparative period
between 27 March and 13 April 2011. With the entry of the implementation of the capital in-
crease in the commercial register of the Stuttgart district court on 13 April 2011, the company’s
share capital was increased by €131,250,000.00 from €175,000,000.00 to €306,250,000.00
through the issuance of 65,625,000 new ordinary shares (no-par-value shares) and 65,625,000
new preference shares (no-par-value shares), with each no-par-value share representing a no-
tional share of €1.00 in the share capital. Since then, Porsche SE’s subscribed capital has com-
prised 153,125,000 ordinary shares and 153,125,000 preference shares.
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