Ubisoft 2005 Annual Report Download - page 76

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- Consolidated reserves and translation reserves
The reserves break down as follows:
Like the capital, the legal reserve constitutes a guarantee for third parties dealing with the company. Because of this, it
cannot be distributed to the shareholders.
The definition and the accounting and evaluation principles were presented in § 2.5.2.4 Principles of consolidation –
Employee benefits.
Note 13 Provisions
The provisions break down as follows:
Miscellaneous
Our Canadian subsidiary, Ubisoft Divertissements Inc., has received an audit notification letter relating to the transfer price
for the year 1999, involving approximately CDN $3 million (roughly €2 million). No provision has been made as manage-
ment considers the claim to be unfounded. Moreover, according to legal counsel consulted in the matter, any adjustment
required to resolve the issue would likely have no significant impact on the company.
Note 14 Employee benefits
03.31.06 03.31.05
Legal reserves 505 505
Statutory reserve - 238
Carried forward - -25,593
Other reserves 55,472 57,566
Translation reserves -25,266 -37,813
Own shares held -679 -263
Consolidated reserves and translation reserves 30,032 -5,360
As of 03.31.05 Appro- Write-backs Write-backs Exchange As of 03.31.06
priations (provision (provision rate
used) not used) differences
Provisions for litigation 4 - - - - 4
Total 4 - - - - 4
Impact
Operating result - - -
Financial result - - -
Extraordinary result - - -
As of 03.31.05 Appro- Write-backs Exchange As of 03.31.06
priations rate
differences
Provisions for retirement 738 419 - -1 1,156
Total 738 419 - -1 1,156