Annual report 2010 - Dexia.com

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Consolidated statementof incomeManagement reportConsolidatedfinancial statementsAdditional information Annual financial statements(in millions of EUR) Note 31/12/09 31/12/10I. Interest income 11.1. 63,980 46,886II. Interest expense 11.1. (58,950) (43,004)III. Dividend income 11.2. 114 81IV. Net income from associates 11.3. 39 5V. Net income from financial instruments at fair value throughprofit or loss 11.4. 61 2VI. Net income on investments 11.5. 23 296VII. Fee and commission income 11.6. 1,507 1,642VIII. Fee and commission expense 11.6. (279) (309)IX. Premiums and technical income from insurance activities 11.7. & 9.3. 2,710 3,482X. Technical expense from insurance activities 11.7. & 9.3. (3,059) (3,844)XI. Other net income 11.8. 38 (1) 73Income 6,184 5,310XII. Staff expense 11.9. (1,847) (1,878)XIII. General and administrative expense 11.10. (1,096) (2) (1,156)XIV. Network costs 1.11. (366) (369)XV. Depreciation & amortization 11.11. (298) (300)Expenses (3,607) (3,703)Gross operating income 2,577 1,607XVI. Impairment on loans and provisions for credit commitments 11.12. (1,096) (641)XVII. Impairment on tangible and intangible assets 11.13. (51) (1)XVIII. Impairment on goodwill 11.14. (6) 0XIX. Provisions for legal litigations 11.15. (21) (1) (41)Net income before tax 1,403 924XX. Tax expense 11.16. (314) (127)Net Income 1,089 797Attributable to non-controlling interests 79 74Attributable to equity holders of the parent 1,010 723in EUREarnings per share 11.17.- basic 0.55 (3) 0.39- diluted 0.55 (3) 0.39(1) An amount of EUR -21 million of “Other net income“ is now included in “Provisions for legal litigations“.(2) The amount of EUR -7 million of Deferred acquisition costs is now included in “General and administrative expense“ and not displayed any longer in a specificline of the consolidated statement of income.(3) Figures as at 31 december 2009 were restated to consider the issuance of new ordinary shares free of charge (bonus shares), distributed to theshareholders.The notes on pages 126 to 234 are an integral part of these consolidated financial statements.120 Dexia Annual report 2010
Consolidated statementof changes in equityCore shareholders' equitySubscribedcapitalAdditionalpaid-in capitalTreasurysharesReservesand retainedearningsNet incomefor theperiodCoreshareholders’equity(in millions of EUR)As at 31 December 2008 8,089 13,618 (23) (870) (3,326) 17,488Movements of the period- Issuance of subscribed capital (1) (1)- Trading activities on treasury shares (2) (2)- Transfers to reserves (3,326) 3,326 0- Share based payments: value of employeeservices 9 9- Variation of scope of consolidation (5) (5)- Other movements (1) (1)Net income for the period 1,010 1,010As at 31 December 2009 8,089 13,618 (25) (4,194) 1,010 18,498Management reportGains and losses not recognisedin the statement of incomeGains and losses not recognised in the statement of incomeSecurities (1) Derivatives(CFH & FXInvt)Associates(AFS, CFH)Cumulativetranslationadjustments(CTA)Total gainsand lossesGroup share(in millions of EUR)As at 31 December 2008 (11,866) (1,156) (9) (541) (13,572)Movements of the period- Net change in fair value through equity –Available-for-sale investments 3,412 22 3,434- Transfers to income of available-for-sale reserve amountsdue to impairments 261 261- Transfers to income of available-for-sale reserve amountsdue to disposals 232 232- Amortization of net fair value on reclassified portfolio inapplication of IAS 39 amended 716 716- Net change in fair value through equity –Cash flow hedge reserve 454 454- Net change in cash flow hedge reserve due to transfers toincome (11) (11)- Translation adjustments 174 11 10 195- Variation of scope of consolidation (13) (13) (26)As at 31 December 2009 (7,084) (702) 0 (531) (8,317)(1) Includes both the available-for-sale reserve and the “frozen“ fair value adjustment of financial assets reclassified to Loans and Receivables.Consolidatedfinancial statementsAdditional information Annual financial statementsAnnual report 2010 Dexia121
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Group profileManagement reportConso
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Group profileRESULTS Dexia GAAP IFR
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Message from the ChairmenManagement
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2010 and early 2011 highlightsDecem
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Photographs: page 8: C. LEBEDINSKY/
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Annual report 2010 - Dexia.com

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