Vehicle company used to create distributable reserves on a share issue UK retailer J Sainsbury uses a vehicle company in a share issue and applies merger relief under the Companies Act 2006 to create £102 million distributable reserves, bypassing its requirement for application of share premium to a non-distributable reserve.
Comparative earnings per share significantly “misprinted” Italian tyre manufacturer Pirelli adjusts significantly its prior year analysis of earnings per share from continuing and discontinued operations and tells us that the comparative information is a misprint.
Pro forma statements published following change of year end date
UK leisure company Thomas Cook changes its reporting date from 31 October to 30 September and publishes pro forma financial statements assuming the year end date had always being 30 September and MyTravel had always been its subsidiary.
Goodwill and intangibles outweigh other assets UK tobacco company Imperial Tobacco recognises £7 billion goodwill and £6 billion other intangibles on an acquisition, after which intangible assets represent 67.7% of its total assets.
Continent continues to drift away from corridor method French infrastructure provider Alstom abandons the corridor method for pensions accounting, leading to an €896 million, or 39.5%, reduction in opening equity and a 16.1% increase in its comparative pre-tax profit.
New disclosure of change of control clause of loan
Italian publisher SEAT Pagine Gialle discloses this year a change of control clause relating to a €1.3 billion loan obtained from its associate in 2004.
Prior year comparatives restated to correct multiple errors UK software producer DICOM Group corrects three accounting errors by restating prior year comparatives that increases net assets by £360,000 or 0.4%.
Adoption of IFRS increases investments in associates by €472 million
Swiss luxury goods company Richemont reverses amortisation of goodwill in associates and reclassifies dividends receivable to investments in associates, which contribute to increasing investment by 17% and net assets by 5% to €6.3 billion.