Carrefour - 2017 Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 Consolidated statement of changes in shareholders’ equity 2017 REGISTRATION DOCUMENT | CARREFOUR 5. 220 Consolidated statement of changes in shareholders’ equity 5.5 (in millions of euros) Shareholders’ equity, Group share Total Share- holders’ equity, Group share Non- controlling interests Total Share- holders’ equity Share capital (1) Translation reserve Fair value reserve (2) Other consolidated reserves and net income Shareholders’ equity at December 31, 2015 1,846 (835) (7) 8,628 9,633 1,039 10,672 Net income for the year 2016 - - - 746 746 148 894 Other comprehensive income after tax - 261 3 (106) 158 100 258 Total comprehensive income 2016 - 261 3 640 904 248 1,152 Share-based payments - - - 3 3 - 3 Treasury stock (net of tax) - - - 49 49 - 49 2015 dividend payment (3) 44 - - (165) (121) (126) (247) Change in capital and additional paid-in capital (4) - - - - - 443 443 Effect of changes in scope of consolidation and other movements - 5 1 (47) (43) (21) (64) Shareholders’ equity at December 31, 2016 1,891 (569) (3) 9,108 10,426 1,582 12,008 Net income for the year 2017 - - - (531) (531) 169 (362) Other comprehensive income after tax - (349) (20) 11 (358) (124) (482) Total comprehensive income 2017 - (349) (20) (520) (889) 45 (844) Share-based payments - - - 12 12 1 13 Treasury stock (net of tax) - - - (31) (31) - (31) 2016 dividend payment (3) 46 - - (197) (151) (103) (254) Change in capital and additional paid-in capital (4) - - - 470 470 370 840 Effect of changes in scope of consolidation and other movements (4) - 32 - 191 223 204 427 Shareholders’ equity at December 31, 2017 1,937 (885) (24) 9,032 10,059 2,099 12,159 At December 31, 2017, the share capital was made up of 774,677,811 ordinary shares (see Note 11.2.1). (1) This item comprises: (2) the effective portion of changes in the fair value of cash flow hedges; – cumulative changes in the fair value of available-for-sale financial assets. – The 2015 dividend, totalling 509 million euros, was paid: (3) in cash for 121 million euros; and – in new shares for 388 million euros (corresponding to the aggregate par value of the new shares for 44 million euros and premiums for 344 million – euros). Dividends paid to non-controlling interests in 2016 came to 126 million euros and related mainly to the Group’s Brazilian and Spanish subsidiaries. The 2016 dividend (Note 2.7), totalling 523 million euros, was paid: in cash for 151 million euros; and – in new shares for 372 million euros (corresponding to the aggregate par value of the new shares for 46 million euros and premiums for 326 million – euros). Dividends paid to non-controlling interests in 2017 for 103 million euros mainly concern Spanish, French and Brazilian subsidiaries. Changes in capital and additional paid-in capital and other movements in 2017 mainly reflect the July 2017 Grupo Carrefour Brasil IPO: the primary (4) offering of 840 million euros generated (i) an increase of 370 million euros in non-controlling interests and (ii) an increase of 470 million euros in shareholders’ equity, Group share corresponding to the dilution gain; Carrefour’s sale of 139,834,428 Grupo Carrefour Brasil shares within the context of the secondary offering and following Península’s exercise of its call option, resulted in (i) a 274 million-euro disposal gain net of tax and directly related selling costs recorded within “Shareholders’ equity, Group share” and (ii) the recognition of non-controlling interests for 208 million euros (Notes 2.2 and 3.2.1). The increase in non-controlling interests in 2016 chiefly corresponded to the portion of Cargo Property Holding’s share capital subscribed by third-party investors (including uncalled capital).