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TomTom Annual Report and Accounts 2011
64
Notes to the Consolidated Financial Statements | continued
19. OTHER FINANCIAL ASSETS
Other fi nancial assets include derivative fi nancial instruments carried at fair value through profi t or loss and derivatives in a hedging
relationship.
(€ in thousands) 2011 2010
Assets Liabilities Assets Liabilities
Derivatives at fair value through profi t or loss 2,784 – 116 5,724 – 598
Interest rate swaps – cash fl ow hedge 0 0 0 – 3,354
TOTAL 2,784 – 116 5,724 – 3,952
A – Derivatives at fair value through profi t or loss
The notional principal amounts of the outstanding forward foreign exchange and option contracts at 31 December 2011 were
€64 million (2010: €277 million).
All our outstanding options and forwards have a contractual maturity of less than one year.
B – Cash fl ow hedge
The notional principal amounts of the outstanding interest rate swap contracts at 31 December 2011 were nil
(2010: €600 million) as it has matured.
20. CASH AND CASH EQUIVALENTS
(€ in thousands) 2011 2010
Cash and cash equivalents 192,861 279,734
Deposits 718 25,866
193,579 305,600
Cash and cash equivalents consist of cash held by the group partly invested in short-term bank deposits with an original maturity of three
months or less.
All cash and cash equivalents are available for immediate use by the group.
21. SHAREHOLDERS’ EQUITY
2011 2010
Number (€ in thousands) Number (€ in thousands)
AUTHORISED
Ordinary shares 600,000,000 120,000 600,000,000 120,000
Preferred shares 300,000,000 60,000 300,000,000 60,000
900,000,000 180,000 900,000,000 180,000
ISSUED AND FULLY PAID
Ordinary shares 221,895,012 44,379 221,808,085 44,362
All shares have a par value of €0.20 per share (2010: €0.20 per share). For rights, restrictions and other conditions attached to ordinary
and preference shares, reference is made to the Corporate Governance section in the Annual Report.
In 2011, 86,927 shares were issued following the exercise of share options by employees (2010: 90,011).
Our reserves are freely distributable except for €70.1 million of legal reserves. Note 6 in our company fi nancial statements provides an
overview of our non-distributable reserves.
Protection mechanism
The Corporate Governance section of this Annual Report provides a detailed description regarding the use of Stichting Continuiteit TomTom
(‘the Foundation’) as a protection measure against hostile takeovers.