Ubisoft 2014 Annual Report Download - page 133

Financial statements
2014
128
Own shares
Occasionally, the Group buys its own shares on the market. The timing of these purchases depends
on the share price.
As at March 31, 2014, the Company held 467,618 own shares. They are measured at an average
price of €5.85 and are recognized as a deduction from equity, for an amount of €2,734 thousand (€210
thousand decrease compared with March 31, 2013).
Dividends
As at March 31, 2014, no dividend was paid in respect of 2012/2013 earnings.
Note 11. Provisions
Opening
balance
Provisions
Reversals
(used
provision)
Reversals
(unused
provision)
Reclassifications
Changes
in scope
Translation
adjustments
Closing
balance
Provision for tax
risk
2,304
-
-
-
-
-
(334)
1,970
Provision for other
financial risks
2,480
417
(826)
-
451
-
(362)
2,160
Other provisions for
risks
886
148
(853)
-
-
-
(7)
174
Total at 03/31/14
5,670
565
(1,679)
-
451
-
(703)
4,304
Total at 03/31/13
3,918
866
(1,211)
-
2,063
-
34
5,670
As part of the tax assessment at Ubisoft Divertissements Inc. (Canada) from 1999 to 2003, and from
2004 to 2008, a bilateral transfer price agreement has been initiated with the tax authorities. Pending
the final agreement, the provision of CAD$3 million is maintained unchanged.
The provision for other financial risks of CAD$2.6 million at Ubisoft Divertissements Inc. relates to the
risk on the Canadian Credit Multimedia Titles.
Reclassification has been made in the financial statements of the subsidiary Ubisoft Studio Saint
Antoine Inc. to show a risk-related provision of CAD$0.6 million relating to the same risk for the
Canadian Credit Multimedia Titles in provisions for other financial risks. This liability was previously
booked as other liabilities.
Other provisions for risks relate to labor or commercial disputes in progress.
Contingent liabilities
A tax audit is underway at Ubisoft International SAS for the period from April 1, 2008, to March 31,
2012. Proposed adjustments have been received. The company contests all the proposed
adjustments and, thus, no provision has been recognized in the financial statements.
A tax audit is underway at Ubisoft France SAS for the period from April 1, 2010, to March 31, 2013. No
proposed adjustments have been received to date. Consequently, no provision has been recognized
in the financial statements.
A tax audit is underway at the German companies Ubisoft GmbH and Blue Byte GmbH for the period
from April 1, 2007, to March 31, 2011. No proposed adjustments have been received to date. Thus, no
provision has been recognized in the financial statements.
A tax audit is underway at Ubisoft Entertainment India Pvt. Ltd (India) for the period from April 1, 2009,
to March 31, 2011. Proposed adjustments have been received, for the fiscal year 2010. The company
contests all these proposed adjustments and, thus, no provision has been recognized in the financial
statements.