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Consolidated Financial Statements as of December 31, 2015

Consolidated statement of comprehensive income

Consolidated statement

5.2

of comprehensive income

2015

2014

(in millions of euros)

Net income for the year

1,123

1,367

Effective portion of changes in the fair value of cash flow hedges

(1)

1

15

Changes in the fair value of available-for-sale financial assets

(1)

(5)

13

Exchange differences on translating foreign operations

(2)

(602)

13

Items that may be reclassified subsequently to profit or loss

(605)

42

Remeasurements of defined benefit plans obligation

(1)

(17)

(129)

Items that will not be reclassified to profit or loss

(17)

(129)

Other comprehensive income after tax

(623)

(87)

Total comprehensive income

501

1,280

Group share

451

1,138

Attributable to non-controlling interests

49

142

Presented net of the tax effect (see Note 11.4 for details).

(1)

Exchange differences on translating foreign operations recognized in 2015 mainly reflect the decline in the Brazilian and Argentine currencies.

(2)

2015 REGISTRATION DOCUMENT

153