TomTom 2005 Annual Report Download - page 60

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60
Statutory฀provisions฀with฀respect฀to฀
appropriation฀of฀results
According฀to฀the฀Company’s฀Articles฀of฀Association,฀the฀
Company’s฀reserves฀may฀be฀distributed฀to฀shareholders,฀
provided฀that฀total฀shareholders’฀equity฀exceeds฀the฀
called-up฀and฀paid-up฀capital฀of฀the฀Company,฀increased฀
by฀legal฀and฀statutory฀reserves.
Legal฀reserves
Legal฀reserves฀are฀non-distributable฀reserves฀that฀have฀
been฀recorded฀for฀the฀amount฀of฀capitalised฀internal฀
software฀development฀costs.฀
Stock฀compensation฀reserve
The฀stock฀compensation฀reserve฀represents฀the฀
cumulative฀expense฀of฀issued฀share฀options฀that฀have฀
been฀granted฀but฀not฀exercised฀together฀with฀the฀amount฀
of฀a฀tax฀benefit฀relating฀to฀the฀tax฀deduction฀that฀exceeds฀
the฀related฀cumulative฀expense.
Consolidated฀statements฀of฀changes฀in฀stockholders’฀equity฀
of฀TomTom฀NV
฀ ฀ ฀ ฀ ฀ Cumulative฀฀ Stock
฀ ฀ Share฀ Share฀ Legal฀฀ translation฀ compensation฀ Retained
฀ Notes฀ capital฀ premium฀ reserves฀ adjustment฀ reserve฀ earnings฀ Total
(in฀
฀thousands)
Balance฀as฀at฀
31฀December฀2003฀ ฀ 18฀ 619฀ 579฀ 30฀ 103฀ 6,244฀ 7,593
Translation฀differences฀ ฀ 0฀ 0฀ 0฀ -15฀ 0฀ 0฀ -15
Profit฀for฀the฀year฀ ฀ 0฀ 0฀ 0฀ 0฀ 0฀ 27,717฀ 27,717
Transfer฀to฀legal฀reserves฀ ฀ 0฀ 0฀ 367฀ 0฀ 0฀ -367฀ 0
Increase฀in฀stock฀
compensation฀reserve฀ ฀ 0฀ 0฀ 0฀ 0฀ 2,511฀ 0฀ 2,511
Issue฀of฀share฀capital฀ ฀ 0฀ 0฀ 0฀ 0฀ 0฀ 0฀ 0
Balance฀as฀at฀
31฀December฀2004฀ ฀ 18฀ 619฀ 946฀ 15฀ 2,614฀ 33,594฀ 37,806
Translation฀differences฀ ฀ 0฀ 0฀ 0฀ 58฀ 0฀ 0฀ 58
Profit฀for฀the฀year฀ ฀ 0฀ 0฀ 0฀ 0฀ 0฀ 142,957฀ 142,957
Transfer฀to฀legal฀reserves฀ ฀ 0฀ 0฀ 794฀ 0฀ 0฀ -794฀ 0
Increase฀in฀stock฀
compensation฀reserve฀ ฀ 0฀ 0฀ 0฀ 0฀ 8,975฀ 0฀ 8,975
Recapitalisation฀ 17฀ 19,982฀ -619฀ 0฀ 0฀ 0฀ -19,363฀ 0
Issue฀of฀share฀capital฀ ฀ 1,456฀ 115,091฀ 0฀ 0฀ 0฀ 0฀ 116,547
Balance฀as฀at฀
31฀December฀2005฀ ฀ 21,456฀ 115,091฀ 1,740฀ 73฀ 11,589฀ 156,394฀ 306,343