Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

116
Altadis Group 2004 Financial Information
Notes to 2004
Consolidated Financial Statements
plan and the future market price of the shares
through an equity swap contract at €24.25 per
share. This contract expires in October 2006. As
of December 31, 2004, 190,400 of the options
granted in this plan are pending to be
excercised. On the other hand, as of December,
2004 the second stock option plan was covered
by treasury stock of LOGISTA, recorded at
€11,949 thousand in the “Long-Term
Investments – Long-Term Investment Securities”
account.
c) Extraordinary expenses
The breakdown of the balance of the “Extraordinary
Expenses” caption in the accompanying 2004
consolidated statement of income is as follows:
Thousands
of Euros
Provisions for long-term
contingencies and expenses (Note 15) 53,074
Provisions for short-term contingencies
and expenses (Note 15) 4,604
Prior years’ expenses and losses 8,279
Other extraordinary expenses 23,204
Total 89,161
d) Extraordinary revenues
The breakdown of the balance of the “Extraordinary
Revenues” caption in the accompanying 2004
consolidated statement of income is as follows:
Thousands
of Euros
Reversal of provisions 31,881
Prior years’ income 1,010
Other extraordinary revenues 490
Total 33,381
The gains on fixed asset disposals arose mainly
from the sale of properties described in Note 6.
e) Foreign currency transactions
The detail of the Altadis Group’s foreign currency
transactions in the year ended December 31, 2004,
translated to euros at the average exchange rates
for the year, is as follows:
Thousands of Euros
Other
Spanish Companies
Altadis, S.A. Companies Abroad
Sales 2,157 22 1,259,403
Purchases 82,273 11,238 630,164
Services provided 716 – 9,517
Services received 10,932 2,519 152,454
The transactions of the companies abroad relate
mainly to transactions performed by Group
companies in their functional currencies, i.e. U.S.
dollars in the case of Altadis, U.S.A., JR Cigar and
Corporación Habanos, Moroccan dirhams in the
case of RTM and Polish zloties in the case of
Altadis Polska.