Annual report 2006 - Dexia.com

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11.3. NET INCOME FROM ASSOCIATES Dec. 31, 2005 Dec. 31, 2006 Income from associates before tax 125 143 Share of tax (36) (41) Impairment on goodwill 0 0 TOTAL 89 102 RAPPORT DE GESTION 11.4. NET TRADING INCOME AND NET RESULT OF HEDGE ACCOUNTING Dec. 31, 2005 Dec. 31, 2006 Foreign exchange net income 67 130 Revaluation of assets at fair value in FVH hedge 2,452 (1,640) Revaluation of liabilities at fair value in FVH hedge 522 1,170 Other activities from trading and hedging (2,887) 659 TOTAL 154 319 CONSOLIDATED FINANCIAL STATEMENTS All interests received and paid on all assets, liabilities and derivatives are recorded in the interest margin. Therefore, the net trading income and net result of hedge accounting include only the change in market value of derivatives, the revaluation of assets and liabilities in a hedge relationship and the revaluation of trading portfolio. This heading therefore includes the inefficiency of all hedge relationships. The item “Other activities from trading and hedging” includes results on trading derivatives, hedging derivatives and, in case of rupture of cash flow hedge relationship, the accumulated CFH reserve related to those derivatives. It also includes net result on portfolio hedge. COMPTES SOCIAUX 194 | Dexia / Annual Report 2006
11.5. NET INCOME ON INVESTMENTS Dec. 31, 2005 Dec. 31, 2006 Gains on loans 61 67 Gains on loans and securities available for sale 592 1,174 Gains on securities held to maturity 0 0 Gains on tangible fixed assets 37 18 Gains on intangible fixed assets 0 2 Gains on assets and liabilities held for sale 0 29 Gains on liabilities 25 10 Other gains 0 1 TOTAL GAINS 715 1,301 Losses on loans (48) (7) Losses on loans and securities available for sale (183) (202) Losses on securities held to maturity 0 0 Losses on tangible fixed assets (5) (7) Losses on intangible fixed assets (1) 0 Losses on assets and liabilities held for sale 0 (1) Losses on liabilities (23) (5) Other losses 0 0 TOTAL LOSSES (260) (222) NET IMPAIRMENT 47 85 TOTAL 502 1,164 RAPPORT DE GESTION CONSOLIDATED FINANCIAL STATEMENTS IMPAIRMENT ON SECURITIES Specific Risk Total Allowances Write-backs As of December 31, 2005 Securities held to maturity 0 0 0 Securities available for sale (37) 84 47 TOTAL (37) 84 47 As of December 31, 2006 Securities held to maturity 0 0 0 Securities available for sale (11) 96 85 COMPTES SOCIAUX TOTAL (11) 96 85 Dexia / Annual Report 2006 | 195
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no achievement without commitment
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FINANCIAL HIGHLIGHTS 4 MESSAGE FROM
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FINANCIAL HIGHLIGHTS FINANCIAL HIGH
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MESSAGE FROM THE CHAIRMEN MESSAGE F
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MESSAGE FROM THE CHAIRMEN MESSAGE F
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GROUP PRESENTATION GROUP PRESENTATI
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GROUP PRESENTATION HISTORY OF THE G
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GROUP PRESENTATION MANAGEMENT REPOR
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GROUP PRESENTATION MANAGEMENT REPOR
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GROUP PRESENTATION GROUP ORGANIZATI
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GROUP PRESENTATION Group Executive
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GROUP PRESENTATION MAIN ACTIVITIES
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GROUP PRESENTATION December Opening
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CORPORATE GOVERNANCE Dexia’s comp
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CORPORATE GOVERNANCE MANAGEMENT REP
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CORPORATE GOVERNANCE NAME SPECIALIZ
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CORPORATE GOVERNANCE NAME SPECIALIZ
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CORPORATE GOVERNANCE DIRECTORS’ A
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CORPORATE GOVERNANCE THE MANAGEMEN
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CORPORATE GOVERNANCE The maximum am
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THE DEXIA SHARE MANAGEMENT REPORT C
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THE DEXIA SHARE MAIN SHAREHOLDERS O
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HUMAN RESOURCES HUMAN RESOURCES Dex
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HUMAN RESOURCES MANAGEMENT REPORT C
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HUMAN RESOURCES INITIATING AND CAS
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SUSTAINABLE DEVELOPMENT SUSTAINABLE
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RISK MANAGEMENT MANAGEMENT REPORT C
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FINANCIAL RESULTS MANAGEMENT REPORT
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FINANCIAL RESULTS to business devel
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FINANCIAL RESULTS ANALYSIS OF THE
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PUBLIC/PROJECT FINANCE MANAGEMENT R
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PUBLIC/PROJECT FINANCE WORLD LEADE
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PERSONAL FINANCIAL SERVICES MANAGEM
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ASSET MANAGEMENT MANAGEMENT REPORT
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INSURANCE SERVICES INSURANCE SERVIC
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INSURANCE SERVICES MANAGEMENT REPOR
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INVESTOR SERVICES MANAGEMENT REPORT
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TREASURY AND FINANCIAL MARKETS MANA
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GENERAL INFORMATION MANAGEMENT REPO
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CONSOLIDATED BALANCE SHEET 112 CONS
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CONSOLIDATED BALANCE SHEET ASSETS (
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CONSOLIDATED STATEMENT OF INCOME (i
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MINORITY INTERESTS Core Gains and l
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CONSOLIDATED CASH FLOW STATEMENT (i
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RAPPORT DE GESTION CONSOLIDATED FIN
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4.1.3. Currency risk 4.2. CREDIT RI
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Name Head Office % of Consolidation
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GEOGRAPHIC Eurozone (1) Rest of USA
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PORTFOLIO Number Loan Collateral Ex
Page 146 and 147: RAPPORT DE GESTION CONSOLIDATED FIN
Page 148 and 149: 7. NOTES ON THE ASSETS OF THE CONSO
Page 150 and 151: B. Analysis of quality See note 7.1
Page 152 and 153: C. Treasury bills and other eligibl
Page 154 and 155: 7.8. SECURITIES HELD TO MATURITY De
Page 156 and 157: 7.10. TANGIBLE FIXED ASSETS A. Net
Page 158 and 159: 7.11. INTANGIBLE ASSETS AND GOODWIL
Page 160 and 161: A. Other assets Analysis by nature
Page 162 and 163: Present value of finance lease liab
Page 164 and 165: 8. NOTES ON THE LIABILITIES OF THE
Page 166 and 167: B. Analysis by maturity and interes
Page 168 and 169: Convertible non-subordinated debt D
Page 170 and 171: D. Provisions for pensions and othe
Page 172 and 173: H. Range of assumptions to determin
Page 174 and 175: 9. OTHER NOTES ON THE CONSOLIDATED
Page 176 and 177: Deferred tax coming from assets of
Page 178 and 179: 2. Change in profit sharing reserve
Page 180 and 181: B. Nonlife contracts B.1. Income an
Page 182 and 183: 9.4. RELATED PARTIES TRANSACTIONS A
Page 186 and 187: The assets and liabilities disposed
Page 188 and 189: 9.8. SHARE-BASED PAYMENTS STOCK OPT
Page 190 and 191: 9.9. MINORITY INTERESTS - CORE EQUI
Page 192 and 193: Dec. 31, 2005 Dec. 31, 2006 Banking
Page 194 and 195: 10. NOTES ON THE CONSOLIDATED OFF-B
Page 198 and 199: 11.6. COMMISSION INCOME AND EXPENSE
Page 200 and 201: (AVERAGE FTE) France Belgium Luxemb
Page 202 and 203: 11.14. IMPAIRMENT ON GOODWILL Nil.
Page 204 and 205: 12. NOTES ON RISK EXPOSURE (IN MILL
Page 206 and 207: 12.2. CREDIT RISKS EXPOSURE A. Anal
Page 208 and 209: 12.3. INTEREST RATE REPRICING RISK:
Page 212 and 213: 12.6. LIQUIDITY RISK: BREAKDOWN BY
Page 214 and 215: 12.7. CURRENCY RISK As of Dec. 31,
Page 216 and 217: BALANCE SHEET 216 OFF-BALANCE SHEET
Page 218 and 219: BALANCE SHEET (before income approp
Page 220 and 221: STATEMENT OF INCOME (in thousands o
Page 222 and 223: 3.2.5. Amounts receivable after mor
Page 224 and 225: 4.2.6. Amounts receivable within on
Page 226 and 227: RAPPORT DE GESTION COMPTES CONSOLID
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Page 230 and 231: 4.6. STATEMENT OF FORMATION EXPENSE
Page 232 and 233: 4.10. SHARE IN THE CAPITAL AND OTHE
Page 234 and 235: D. Commitments to issue shares Amou
Page 236 and 237: 4.19. OTHER TAXES AND TAXES BORNE B
Page 238 and 239: 6. SOCIAL REPORT 6.1. STATEMENT OF
Page 240 and 241: 6.3. STATEMENT CONCERNING THE IMPLE
Page 242 and 243: • there have been no transactions
Page 244 and 245: DEXIA IN THE WORLD RAPPORT DE GESTI
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RAPPORT DE GESTION COMPTES CONSOLID
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RAPPORT DE GESTION Kommunalkredit D
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Dexia’s Annual Report 2006 has be
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SDXI 0109-5 03-07
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Annual report 2006 - Dexia.com

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