Annual report 2009 - Dexia.com

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Consolidated statementof comprehensive incomeManagement reportConsolidatedfinancial statements(in millions of EUR) 31/12/08 31/12/09NET RESULT RECOGNISED IN THE STATEMENT OF INCOME (3,248) 1,089Unrealised gains (losses) on available-for-sale financial investments, before tax (13,078) 6,086Gains (losses) on cash flow hedges, before tax (1,549) 527Cumulative translation adjustments (391) 9Gains (losses) from hedges on net investments, before tax 0 1Other comprehensive income from associates 14 9Tax relating to components of other comprehensive income 2,932 (1,330)OTHER COMPREHENSIVE INCOME, NET OF TAX (12,072) 5,302TOTAL COMPREHENSIVE INCOME, NET OF TAX (15,320) 6,391Attributable to equity holders of the parent (15,311) 6,264Attributable to minority interest (9) 127The notes on pages 106 to 210 are an integral part of these consolidated financial statements.Additional informationAnnual financial statements104Dexia Annual report 2009
Consolidated cash flow statement(in millions of EUR) 31/12/08 31/12/09CASH FLOW FROM OPERATING ACTIVITIESNet income after income taxes (3,248) 1,089Adjustment for:- Depreciation, amortization and other impairment 347 391- Impairment on bonds, equities, loans and other assets 3,215 (112)- Net gains or losses on investments 1,040 (1) 659- Charges for provisions (mainly insurance provision) 3,980 1,441- Unrealised gains or losses (169) 36- Income from associates 1 (39)- Dividends from associates 47 33- Deferred taxes (883) 74- Other adjustments 22 9Changes in operating assets and liabilities (9,778) (14,852)NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (5,426) (11,271)CASH FLOW FROM INVESTING ACTIVITIESPurchase of fixed assets (622) (636)Sales of fixed assets 142 170Acquisitions of unconsolidated equity shares (2,334) (1,534)Sales of unconsolidated equity shares 2,520 2,412 (2)Acquisitions of subsidiaries and of business units (15) (54)Sales of subsidiaries and of business units 7 371NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (302) 729CASH FLOW FROM FINANCING ACTIVITIESIssuance of new shares 6,142 1Issuance of subordinated debts 318 20Reimbursement of subordinated debts (703) (217)Purchase of treasury shares (231) 0Sale of treasury shares 1 0Dividends paid (1,114) (10)NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 4,413 (206)NET CASH PROVIDED (1,315) (10,748)CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 51,603 49,715Cash flow from operating activities (5,426) (11,271)Cash flow from investing activities (302) 729Cash flow from financing activities 4,413 (206)Effect of exchange rate changes and change in scope of consolidation on cashand cash equivalents (573) 429CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 49,715 39,396ADDITIONAL INFORMATIONIncome tax paid (119) (384)Dividends received 218 147Interest received 106,193 65,824Interest paid (99,980) (59,221)(1) Includes EUR 951 million linked to agreement to sell FSA insurance business.(2) Includes EUR 676 million for the sale of Dexia’s stake in Crédit du Nord.Management reportConsolidatedfinancial statementsAnnual financial statementsAdditional informationThe notes on pages 106 to 210 are an integral part of these consolidated financial statements.Annual report 2009 Dexia 105
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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 governanceNAMEKOEN VAN LO
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Corporate governanceNew directors a
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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
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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 89 and 90: General information3. Overview of t
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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