sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
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Statement<br />
of recognized income<br />
and expense<br />
The following statement of recognized income and expense has been prepared in application of IAS 19, paragraph 93B, following<br />
the Group’s decision to record actuari<strong>al</strong> gains and losses outside the income statement.<br />
Shareholders’ Minority Tot<strong>al</strong><br />
(in € millions) equity interests equity<br />
2006<br />
Translation adjustments (495) (17) (512)<br />
Changes in fair v<strong>al</strong>ue, net of tax (36) 0 (36)<br />
Changes in actuari<strong>al</strong> gains and losses, net of tax 293 0 293<br />
Other 0 (2) (2)<br />
Income and expense recognized directly in equity (238) (19) (257)<br />
Net income for the year 1,637 45 1,682<br />
Tot<strong>al</strong> recognized income and expense for the year 1,399 26 1,425<br />
2007<br />
Translation adjustments (704) (9) (713)<br />
Changes in fair v<strong>al</strong>ue, net of tax 28 0 28<br />
Changes in actuari<strong>al</strong> gains and losses, net of tax 140 0 140<br />
Other 13 (a) (18) (5)<br />
Income and expense recognized directly in equity (523) (27) (550)<br />
Net income for the year 1,487 56 1,543<br />
Tot<strong>al</strong> recognized income and expense for the year 964 29 993<br />
132<br />
<strong>2008</strong><br />
Translation adjustments (1,176) (36) (1,212)<br />
Changes in fair v<strong>al</strong>ue, net of tax (119) 0 (119)<br />
Changes in actuari<strong>al</strong> gains and losses, net of tax (419) (1) (420)<br />
Other (7) (a) (4) (11)<br />
Income and expense recognized directly in equity (1,721) (41) (1,762)<br />
Net income for the year 1,378 59 1,437<br />
Tot<strong>al</strong> recognized income and expense for the year (343) 18 (325)<br />
(a) Following the exit from the consolidated taxation agreement in 2006, a €16 million deferred tax asset was recorded for the first time in 2007 in respect of future<br />
tax credits that the Group will be eligible to receive when UK and US employees exercise their stock options. Of this amount, €10 million was recognized in income –<br />
corresponding to tax savings on the stock option cost recognized in the income statement since the transition to IFRS – and the b<strong>al</strong>ance was recognized in equity.<br />
In <strong>2008</strong>, the deferred tax asset was adjusted to end of the year situation. Of the tot<strong>al</strong> adjustment, €10 million was recognized in equity and €5 million in income.<br />
The accompanying notes are an integr<strong>al</strong> part of the consolidated financi<strong>al</strong> statements.<br />
Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
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