Annual report 2009 - Dexia.com

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Management reportConsolidatedfinancial statementsMINORITY INTERESTCoreequityGains and lossesnot recognisedMinorityinterestDISCRETIONARYPARTICIPATIONin theFEATURESstatement ofOF INSURANCE(in millions of EUR)incomeCONTRACTSAS AT 31 DECEMBER 2007 1,721 33 1,754 115Movements of the period- Increase of capital 97 97- Dividends (62) (62)- Net income for the period 78 78- Net change in fair value through equity (118) (118) (115)- Cancellation of FV following AFS disposals 5 5- Net change in fair value due to transfersto income 4 4- Translation adjustments 4 4- Variation of scope of consolidation (79) 15 (64)- Amortization of net fair value on reclassifiedportfolio in application of IAS 39 amended 3 3- Others 1 1AS AT 31 DECEMBER 2008 1,756 (54) 1,702 0Core shareholders’ equity 17,488Gains and losses not recognised in the statementof income attributable to equity holders of the parent (13,572)Minority interest 1,702TOTAL EQUITY AS AT 31 DECEMBER 2008 5,618Annual financial statementsCORE SHAREHOLDERS’ EQUITY Subscribed Additional Treasury Reserves NetCorecapital paid-in shares and retained income for shareholders’(in millions of EUR)capitalearnings the periodequityAS 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 employee services 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 18,498Additional informationThe notes on pages 106 to 210 are an integral part of these consolidated financial statements.102Dexia Annual report 2009
GAINS AND LOSSES NOT RECOGNISEDIN THE STATEMENT OF INCOMEGains and lossesnot recognised in the statement of incomeTotal gainsand lossesGroup shareSecurities Derivatives Associates Cumulative(AFS) (CFH & FX Invt) (AFS, CFH) translationadjustments(in millions of EUR)(CTA)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- Net change in fair value due to transfers to income –Available-for-sale investments 261 261- Cancellation of FV following AFS 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 hedges 454 454- Net change in fair value due to transfers to income –Cash Flow hedges (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)Management reportConsolidatedfinancial statementsMINORITY INTERESTCoreequityGains and lossesnot recognisedMinorityinterestDISCRETIONARYPARTICIPATIONin theFEATURES OFstatement ofINSURANCEincome(in millions of EUR)CONTRACTSAS AT 31 DECEMBER 2008 1,756 (54) 1,702 0Movements of the period- Increase of capital 2 2- Dividends (10) (10)- Net income for the period 79 79- Net change in fair value through equity 15 15 1- Cancellation of FV following AFS disposals 2 2- Translation adjustments 1 1- Variation of scope of consolidation (14) 13 (1)- Amortization of net fair value on reclassified portfolioin application of IAS 39 amended 16 16AS AT 31 DECEMBER 2009 1,813 (7) 1,806 1Core shareholders’ equity 18,498Gains and losses not recognised in the statement of income attributable to equity holders of the parent (8,317)Minority interest 1,806Discretionary participation features of insurance contracts 1TOTAL EQUITY AS AT 31 DECEMBER 2009 11,988Annual financial statementsAdditional informationThe notes on pages 106 to 210 are an integral part of these consolidated financial statements.Annual report 2009 Dexia 103
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Group profi leSIMPLIFIED GROUP STRU
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Group profi leQUALITY OF RISKS Dexi
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In accordance with the agreement wi
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2009 and early 2010 highlightsExit
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2009 and early 2010 highlightsCreat
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Corporate governanceIntroduction: t
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Corporate governanceThe European Ad
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Corporate governanceNAMEPIERREMARIA
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Corporate governanceNAMEROBERTDE ME
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Corporate governanceNAMESPECIALISTC
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Corporate governanceNAMEKOEN VAN LO
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Corporate governanceNew directors a
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Corporate governanceConsidering tho
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Corporate governancemade and the fi
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Corporate governanceDIRECTORS’ AN
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Corporate governanceOperation and a
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Corporate governanceThe Appointment
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Corporate governanceResponsibilitie
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Corporate governanceVariable compen
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Corporate governancetional entities
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Corporate governance• It identifi
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Shareholder informationStock market
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Shareholder informationPRINCIPAL DE
Page 53 and 54: Human resourcesAGE PYRAMID> 5955-59
Page 55 and 56: Sustainable developmentThe 2009 Dex
Page 57 and 58: Risk managementIntroductionIn 2009,
Page 59 and 60: Risk managementThe Rating Committee
Page 61 and 62: Risk managementAsset qualityBy the
Page 63 and 64: Risk managementBond portfolioDexia
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Page 69 and 70: Risk managementECONOMIC CAPITALBY T
Page 71 and 72: Financial resultsPreliminary notes
Page 73 and 74: Financial resultsSolvency31/12/08 3
Page 75 and 76: Financial resultsAssetsLoans and ad
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Page 91 and 92: General informationAll the above-me
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Dexia’s annual report 2009 has be
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Annual report 2009 - Dexia.com

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