Annual Report 2007 - Severstal

OAO Severstal and subsidiaries
Consolidated statement of changes in equity
Year ended December 31, 2007
(Amounts expressed in thousands of US dollars)
Minority
Attributable to the shareholders of OAO Severstal interest Total
Foreign
Share Additional Revaluation exchange Retained
capital capital reserve differences earnings Total
Balances at December 31, 2004
as previously reported 3,311,248 60,367 631,996 191,770 (75,938) 4,119,443 122,250 4,241,693
Acquisition of entities under common control – – – 538 (3,385) (2,847) 1,409 (1,438)
Change in accounting policy (Note 3c) – – (631,996) – 631,996 – – –
Balances at December 31, 2004 as restated 3,311,248 60,367 – 192,308 552,673 4,116,596 123,659 4,240,255
Profit for the year (restated) – – – – 1,561,182 1,561,182 63,978 1,625,160
Foreign exchange differences – – – (151,293) – (151,293) (35,065) (186,358)
Total recognized income and expenses 1,409,889 28,913 1,438,802
Dividends – – – – (271,996) (271,996) (3,181) (275,177)
Effect of acquisitions and disposals 6 – – (6,647) (23,384) (30,025) 341,338 311,313
Balances at December 31, 2005 (restated) 3,311,254 60,367 – 34,368 1,818,475 5,224,464 490,729 5,715,193
Profit for the year (restated) – – – – 1,454,198 1,454,198 55,782 1,509,980
Foreign exchange differences – – – 501,223 – 501,223 49,210 550,433
Total recognized income and expenses 1,955,421 104,992 2,060,413
Dividends – – – – (278,798) (278,798) – (278,798)
Share issues 34 1,105,163 – – – 1,105,197 – 1,105,197
Effect of acquisitions and disposals – – – – (9,921) (9,921) (38,076) (47,997)
Balances at December 31, 2006 (restated) 3,311,288 1,165,530 – 535,591 2,983,954 7,996,363 557,645 8,554,008
Profit for the year – – – – 1,936,423 1,936,423 37,196 1,973,619
Foreign exchange differences – – – 640,730 – 640,730 56,583 697,313
Total recognized income and expenses 2,577,153 93,779 2,670,932
Dividends – – – – (801,462) (801,462) (11,982) (813,444)
Effect of acquisitions and disposals – – – – (36,081) (36,081) (164,736) (200,817)
Balances at December 31, 2007 3,311,288 1,165,530 – 1,176,321 4,082,834 9,735,973 474,706 10,210,679
The accompanying notes form an integral part of these consolidated financial statements.
Severstal Annual Report 2007 75