Annual Report 2005 - Tenaris

Statement of changes
in stockholders' equity
At December 31 2003
REALIZATION OF REVALUATION RESERVE
Through depreciation of own assets
Income tax on realization of revaluation
reserve of own assets
NET INCOME FOR YEAR
CONSTITUTION OF RESERVES
INTEREST ON OWN CAPITAL
(R$ 0.0664 PER SHARE)
At December 31 2004
CAPITAL INCREASE WITH INCOME
RESERVES
REALIZATION OF REVALUATION RESERVE
Through depreciation of own assets
Income tax on realization of revaluation
reserve of own assets
Reversion of income tax on revaluation
of plots of land
NET INCOME FOR YEAR
CONSTITUTION OF RESERVES
PROPOSED COMPLEMENTARY DIVIDENDS
(R$ 0.0762 PER SHARE)
INTEREST ON OWN CAPITAL
(R$ 0.1261 PER SHARE)
At December 31 2005
Capital
229,419
–
–
–
–
–
229,419
–
–
–
–
–
–
–
–
229,419
The management's explanatory notes are an integral part of the financial
Investments
w/incentives
309
–
–
–
–
–
309
–
–
–
–
–
–
–
–
309
Capital Reserve Income reserves
Revaluation
reserve
6,979
(1,069)
363
–
–
–
6,273
–
(1,046)
356
452
–
–
–
–
6,035
Legal
reserve
29,408
–
–
–
876
–
30,284
–
–
–
–
–
13,851
–
–
44,135
For capital
increase
–
–
–
–
–
–
–
87,000
–
–
–
–
–
–
–
87,000
Retention
of profits
164,363
–
–
–
17,349
(21,596)
160,116
(87,000)
–
–
–
–
263,400
(24,781)
(41,006)
270,729
Accumulated
profits
–
1,069
(363)
17,519
(18,225)
–
–
–
1,046
(356)
(452)
277,013
(277,251)
–
–
Total
430,478
53. Financial Statements 2005
–
–
17,519
–
(21,596)
426,401
–
–
–
–
277,013
–
(24,781)
(41,006)
637,627