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Statement of Changes in Equity

of the Volkswagen Group as of December 31, 2012

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Sub-
scribed
capital

 

Capital reserves

 

Accumulated comprehensive income

 

Equity attributable to share-
holders of VW AG

 

Non-
controlling interests

 

Total equity

€ million

     

Retained earnings

 

Currency
trans-
lation
reserve

 

Reserve
for
actuarial
gains/
losses

 

Cash flow hedges

 

Available-for-sale financial assets

 

Equity-
accounted
invest-
ments

     

1

Volkswagen AG recorded an inflow of cash funds amounting to €2,500 million, less transaction costs of €54 million, from the mandatory convertible note placed in the fiscal year. A total of €2,048 million of this amount is required to be classified as equity instruments granted. Additionally, there are noncash effects from the deferral of taxes amounting to €133 million. The residual amount is classified as debt.

2

The capital transactions involving a change in ownership interest are attributable primarily to the increase in the equity interest in MAN SE.

3

The other changes relate primarily to the reclassification of components of OCI in conjunction with the consolidation of Porsche Holding Stuttgart (previous year: MAN SE) as well as to changes in the basis of consolidation.

Balance at Jan. 1, 2011

 

1,191

 

9,326

 

37,684

 

–165

 

–2,201

 

61

 

–25

 

107

 

45,978

 

2,734

 

48,712

Profit after tax

 

 

 

15,409

 

 

 

 

 

 

15,409

 

391

 

15,799

Other comprehensive income, net of tax

 

 

 

 

–167

 

–665

 

–1,498

 

200

 

–393

 

–2,522

 

–81

 

–2,603

Total comprehensive income

 

 

 

15,409

 

–167

 

–665

 

–1,498

 

200

 

–393

 

12,886

 

310

 

13,196

Capital increase

 

0

 

3

 

 

 

 

 

 

 

3

 

 

3

Dividend payment

 

 

 

–1,034

 

 

 

 

 

 

–1,034

 

–232

 

–1,266

Capital transactions involving a change in ownership interest

 

 

 

–286

 

 

 

 

 

 

–286

 

–749

 

–1,035

Other changes

 

 

 

–9

 

 

 

 

 

 

–9

 

3,752

 

3,743

Balance at Dec. 31, 2011

 

1,191

 

9,329

 

51,764

 

–332

 

–2,866

 

–1,437

 

176

 

–286

 

57,539

 

5,815

 

63,354

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Jan. 1, 2012

 

1,191

 

9,329

 

51,764

 

–332

 

–2,866

 

–1,437

 

176

 

–286

 

57,539

 

5,815

 

63,354

Profit after tax

 

 

 

21,717

 

 

 

 

 

 

21,717

 

168

 

21,884

Other comprehensive income, net of tax

 

 

 

 

–207

 

–3,877

 

1,797

 

448

 

79

 

–1,760

 

–81

 

–1,842

Total comprehensive income

 

 

 

21,717

 

–207

 

–3,877

 

1,797

 

448

 

79

 

19,956

 

86

 

20,042

Capital increase1

 

0

 

2,180

 

 

 

 

 

 

 

2,180

 

 

2,180

Dividend payment

 

 

 

–1,406

 

 

 

 

 

 

–1,406

 

–267

 

–1,673

Capital transactions involving a change in ownership interest2

 

 

 

–762

 

 

 

 

 

 

–762

 

–1,339

 

–2,101

Other changes3

 

 

 

–141

 

 

0

 

 

 

148

 

8

 

14

 

22

Balance at Dec. 31, 2012

 

1,191

 

11,509

 

71,172

 

–539

 

–6,743

 

360

 

624

 

–59

 

77,515

 

4,310

 

81,825

Explanatory notes on equity are presented in note 24.

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