Annual Report 2010 - CMVM

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Notes to the Consolidated Financial Statements as at 31 December 2010The payments relative to the financial investments in the year ended on 31 December 2010 refer to the acquisition of holdings in the following entities:2010Banco Bilbao Vizcaya Argentaria, S.A. 40.440Banco Comercial Português, S.A. 13.612IMOPEDROUÇOS - Sociedade Imobiliária, S.A. 3.500Alvorada Petróleos, S.A. 979DIGAL - Distribuição e Comércio, S.A. 665Other 9859.294Dividends received in the year ended on 31 December 2010 were as follows:2010Banco Comercial Português, S.A. 5.794SCP AK-10 Empreendimentos e Participações SPE, Ltda. 2.097LUSOPONTE - Concessionária para a Travessia do Tejo, S.A. 1.029Banco Bilbao Vizcaya Argentaria, S.A. 879Other 57310.37230 - OTHER CURRENT AND NON-CURRENT ASSETSAs at 31 December 2010 and 2009, the other current and non-current assets had the following composition:CurrentNon-current2010 2009 2010 2009State and other public bodies:Value Added Tax 12.470 11.003 - -Associated companies, subsidiaries and other shareholders:Associated companies 1.741 873 4 4Subsidiaries 2.198 40 932 932Other shareholders 390 39 47 1014.329 952 983 1.037Accrued income:Interest receivable 15.284 7.270 - -Values to be invoiced 96.721 37.321 - -Other accrued income 6.310 12.565 12.139 9.140118.315 57.156 12.139 9.140Deferred costs:Insurance paid in advance 2.117 2.505 - -Interest payable 17 107 - -Other deferred costs 8.607 14.235 353 79010.741 16.847 353 790Other assets:Advances to suppliers 12.855 29.292 - -158.710 115.250 13.475 10.967190
Notes to the Consolidated Financial Statements as at 31 December 201031 - BUILDING CONTRACTSIn the year ended on 31 December 2010, the costs and income recognised for building contracts in progress are as follows:2010Net income:Issued invoices 768,839Change in:- Deferred income - works (Note 39) (27,825)- Accrued income - works 19,461760,475Net costs:Invoiced costs 731,158Change in:- Provisions for guarantees (Note 36) (1,446)- Provisions for future losses (Note 36) 5,639735,351Calculated earnings (Note 7) 25,124Furthermore, as at 31 December 2010, the deductions made by customers on building contracts amounted to EUR 170 thousand.32 - SHARE CAPITALAs at 31 December 2010, the underwritten and paid-up share capital was represented by 420,000,000 shares with the nominal value of 1 Euro each (287,880,799 shares at1 Euro each as at 31 December 2009).As mentioned in the Introductory Note, in the year ended on 31 December 2010, TD,SA increased its share capital by EUR 132,119,201, corresponding to 132,119,201 shares.The increase was carried out by the integration of 132,119,201 shares of TD-EC, under the Public Exchange Offer conducted.As at 31 December 2010, TDG - Sociedade Gestora de Participações Sociais, S.A. directly owned 154,640,240 shares representing the share capital of Teixeira Duarte, S.A.,corresponding to 36.82% of the respective share capital (53.42% as at 31 December 2009).33 - RESERVES AND RETAINED EARNINGSLegal reserve: In accordance with current legislation, the Company is obliged to transfer at least 5% of its annual net profit to the legal reserve, until it reaches a minimum of20% of the capital. This reserve is not distributable to shareholders, but may be used to absorb losses, after all other reserves have been exhausted, or to increase the capital.Fair value reserve: The fair value reserve represents the difference between the cost value and market value of the financial assets available for sale, not yet recognised in theincome statement.Free reserves: Free reserves are available for distribution.Reserve of hedging operations: As described in Note 2.16 g), the reserve of hedging operations reflects the effective component (net of the tax effect) of the changes in thefair value of the derivative financial instruments classified as cash flow hedges.191
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Annual Report 2010 - CMVM

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