Ubisoft 2016 Annual Report Download - page 131

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Financial statements
5
Consolidated fi nancial statements asatMarch31, 2016
Translation reserve
The translation reserve includes all Foreign exchange gains and losses resulting from the translation of the fi nancial statements of foreign
subsidiaries since January 1, 2004.
The foreign exchange gains and losses in “Equity attributable to owners of the Company” ranged from €15 million to €(11) million,
between March 31, 2015 and March 31, 2016. This change is due primarily to the following currencies:
Currency Closing rate
03/31/16 Closing rate
03/31/15 Impact
USD 1,1385 1,0759 (9,959)
CAD 1,4738 1,3738 (7,924)
GBP 0,79155 0,7273 (5,783)
CNY 7,3514 6,6710 (1,104)
AUD 1,4807 1,4154 (401)
Other (956)
TOTAL (26,127)
Hedging reserve
The hedging reserve includes the effective part of the cumulative net
change in the fair value of cash fl ow hedge instruments attributable
to hedged transactions that have not yet materialized.
AT 03/31/15 (7,320)
Gains/losses on cash fl ow hedging
Foreign exchange hedges 10,857
Deferred tax (3,738)
Reclassifi cation under profi t or loss
Foreign exchange hedges 11,807
Deferred tax (4,487)
AT 03/31/16 7,119
The portion reclassifi ed under profi t or loss is recognized under
current operating income.
Own shares
Occasionally, in accordance with the legal framework, the Group
buys its own shares on the market.
As at March 31, 2016, the Company held 3,647,838 own shares:
♦ liquidity agreements: 45,800 shares valued at €1,224 thousand
(down €152 thousand on March 31, 2015);
♦
treasury shares in the process of being canceled: 1,248,214 shares
valued at €20,040 thousand;
♦
employee stock ownership: 113,824 shares valued at
€475 thousand (down €787 thousand on March 31, 2015);
♦
shares held with a view to possible acquisitions: 2,240,000 shares
valued at €59,253 thousand.
They are recognized as a deduction from equity, for an amount
of €80,992 thousand (€78,355 thousand increase compared with
March 31, 2015) and are valued at an average price of €22.20.
Dividends
As at March 31, 2016, no dividend was paid in respect of 2014/2015
earnings.
NOTE11 PROVISIONS AND CONTINGENT LIABILITIES
Opening
balance Provisions
Reversals
(used
provision)
Reversals
(unused
provision) Changes
inscope
Foreign
exchange
gains and
losses Closing
balance
Provision for tax risk 5,317----(361) 4,956
Provision for other fi nancial
risks 2,042 688 (237) - - (147) 2,346
Other provisions for risks 138 1,542 (91) - - (3) 1,586
TOTAL AT 03/31/16 7,497 2,230 (328) - - (511) 8,888
TOTAL AT 03/31/15 4,304 3,704 (1,089) - (14) 592 7,497
- Registration Document 2016 129