2005 Annual report - Virbac

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Note B10 - Cash and cash equivalents
(€ thousands) 2005 2004
Cash 13,039 13,585
Marketable securities 1,100 896
Cash and cash equivalents 14,139 14,481
Cash subject to restrictions 187 0
Bank overdrafts -5,199 -6,256
Closing net cash 9,127 8,225
Note B11 - Shareholders’ equity – Group share
Breakdown of reserve accounts
(€ thousands) 2005 2004
Share premiums 6,534 6,534
Other reserves and retained earnings 119,804 108,782
Legal reserve 1,089 1,089
Group consolidation reserves -14,812 -19,769
Group translation reserves 4,768 -1,818
Total reserves and retained earnings 117,383 94,818
Treasury shares
At 31 December 2005, Virbac held treasury shares largely for the purpose of making available shares to be transferred to
employees under the Group’s stock option plans. The carrying amount of such shares is recognised as a deduction from
shareholders’ equity.
Since some of the plans matured during the year, some employees exercised their options. At 31 December 2005, the number of
treasury shares totalled 231,559 (compared with 403,078 shares at 31 December 2004) with a carrying amount of
€4,409 thousand.
Changes in shareholders’ equity: breakdown of other changes during the year
(€ thousands)
IFRS 2 Spreading of stock option charge 235
IFRS 2 Stock options: recognition of deferred tax on exercise of options 314
IAS 12 Recognition of a deferred tax asset in respect of earlier years 96
IAS 16 Adjustment of IFRS journal entries -51
IAS 17 Adjustment of IFRS journal entries -59
IAS 19
Adjustment of the commitment in respect of medical cover
for the South African subsidiary -79
IAS 38 Adjustment of IFRS journal entries 42
IAS 32 & 39 Change in derivatives -803
IAS 32 & 39 Impact of underlying instruments (Net investment hedge) 932
Other changes in shareholders’ equity 31
Total other changes in shareholders’ equity over the period 658