TomTom 2015 Annual Report Download - page 115

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COMPANY FINANCIAL STATEMENTS OF TOMTOM NV
TOMTOM / ANNUAL REPORT AND ACCOUNTS 2015 / 114
E. SHAREHOLDERS' EQUITY
For the statement of changes in consolidated equity for the year ended 31 December 2015, please refer to Consolidated statement of
changes in equity in the consolidated financial statements. Additional information on the shareholders' equity is disclosed in note 24.
Shareholder's equity in the consolidated financial statements.
F. OTHER RESERVES
(€ in thousands) Legal reserve
participations
Cumulative
translation
adjustment
Total Legal reserve Stock
compensation
reserve
Total
BALANCE AS AT 31 DECEMBER 2013 133,942 -3,296 130,646 29,441 160,087
Currency translation differences 0 13,967 13,967 0 13,967
Transfer from retained earnings 28,271 0 28,271 0 28,271
Stock compensation expenses 0 0 0 4,126 4,126
Transfer to retained earnings and share
premium 0 0 0 -4,162 -4,162
BALANCE AS AT 31 DECEMBER 2014 162,213 10,671 172,884 29,405 202,289
Currency translation differences 0 12,087 12,087 0 12,087
Transfer from retained earnings 25,903 0 25,903 0 25,903
Stock compensation expenses 0 0 0 3,788 3,788
Transfer to retained earnings and share
premium 0 0 0 -15,851 -15,851
BALANCE AS AT 31 DECEMBER 2015 188,116 22,758 210,874 17,342 228,216
LEGAL RESERVES
Legal reserves are the non-distributable reserves that are recorded for an amount equal to the restricted reserves of the company's
subsidiaries and the cumulative translation adjustment reserve.
STOCK COMPENSATION RESERVE
The stock compensation reserve represents the cumulative expense of issued stock options that have been granted but not exercised.
G. BORROWINGS
Please refer to note 27. Borrowings in the consolidated financial statements.
H. INTERCOMPANY PAYABLE
'Intercompany payable' comprises of loans provided by subsidiaries. The interest rate on the loan during 2015 is based upon the
applicable inter-bank offered rate plus a margin of 0.7% (2014: 1.3%). Although no repayment period has been agreed the loan has a
long-term nature.