2008 Full Year Results - SBM Offshore
2008 Full Year Results - SBM Offshore
2008 Full Year Results - SBM Offshore
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Consolidated statement of changes in equity<br />
in thousands of US Dollars<br />
At 1 January 2007<br />
Outstanding<br />
number of<br />
shares<br />
Issued<br />
share<br />
capital<br />
Attributable to shareholders Minority<br />
interests<br />
Share Retained Other Total<br />
premium<br />
reserve<br />
earnings reserves<br />
Page 17 of 18<br />
Total<br />
equity<br />
140,715,535 46,359 344,326 677,636 50,379 1,118,700 323 1,119,023<br />
Foreign currency translation<br />
Cash flow hedges/net<br />
5,524 - (5,617) 8,821 8,728 93 8,821<br />
investment hedges<br />
-<br />
-<br />
- (32,267) (32,267) - (32,267)<br />
Share based payments - - 14,099 - 14,099 - 14,099<br />
Net income directly recognised in equity<br />
5,524<br />
- 8,482 (23,446) (9,440) 93 (9,347)<br />
Profit for the year - - 262,885 - 262,885 3,881 266,766<br />
Total income and expense for the year<br />
5,524<br />
-<br />
271,367<br />
(23,446)<br />
253,445<br />
3,974<br />
257,419<br />
Stock dividend 1,432,296 476 (476) - - 0 - 0<br />
Share options/ bonus shares 1,175,850 391 19,207 - - 19,598 - 19,598<br />
Cash dividend - - (58,306) - (58,306) - (58,306)<br />
At 31 December 2007 143,323,681 52,750 363,057 890,697 26,933 1,333,437 4,297 1,337,734<br />
Foreign currency translation<br />
Cash flow hedges/net<br />
(2,740) - 2,933 (10,669) (10,476) (189) (10,665)<br />
investment hedges<br />
-<br />
-<br />
- (269,475) (269,475) - (269,475)<br />
Share based payments - - 16,842 - 16,842 - 16,842<br />
Net income directly recognised in equity<br />
(2,740)<br />
- 19,775 (280,144) (263,109) (189) (263,298)<br />
Profit for the year - - 223,172 - 223,172 4,703 227,875<br />
Total income and expense for the year<br />
(2,740)<br />
-<br />
242,947<br />
(280,144)<br />
(39,937)<br />
4,514<br />
(35,423)<br />
Stock dividend 1,300,774 498 (498) - - 0 - 0<br />
Share options/ bonus shares 989,533 377 20,715 - - 21,092 - 21,092<br />
Cash dividend - - (79,864) - (79,864) (2,604) (82,468)<br />
At 31 December <strong>2008</strong> 145,613,988 50,885 383,274 1,053,780 (253,211) 1,234,728 6,207 1,240,935<br />
Within retained earnings an amount of US$ 102.0 million (2007: US$ 100.3 million) relates to equity of joint ventures and<br />
other non-distributable items and should therefore be treated as legal reserve. Furthermore a legal reserve of US$ 15.4<br />
(2007: US$ 3.4 million) should be maintained in respect of capitalised development expenditures.
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