12.04

Consolidated statements of changes in shareholders' equity

Consolidated statements of changes in shareholders’ equity from 31 December 2001 to 31 December 2004

	Issued shared capital	Additional paid-in capital	Cumulative translation reserve	Other reserves	Unappropriated net income	Capital and reserves	Minimum liability	Total
Balance at 31 December 2001	230	1,421	(8)	439	518	2,600		2,600
Net income					599	599		599
Foreign exchange effects			(54)			(54)		(54)
Other				1		1		1
Total recognised income / expense for the period			(54)	1	599	546		546
Final dividend previous year					(114)	(114)		(114)
Appropriation of net income				404	(404)
Interim dividend current year					(71)	(71)		(71)
Total direct changes in equity				404	(589)	(185)		(185)
Balance at 31 December 2002	230	1,421	(62)	844	528	2,961		2,961
Net income					300	300		300
Foreign exchange effects			(68)			(68)		(68)
Other				(20)		(20)		(20)
Total recognised income / expense for the period			(68)	(20)	300	212		212
Final dividend previous year					(119)	(119)		(119)
Appropriation of net income				409	(409)
Interim dividend current year					(85)	(85)		(85)
Total direct changes in equity				409	(613)	(204)		(204)
Balance at 31 December 2003	230	1,421	(130)	1,233	215	2,969		2,969
Net income					667	667		667
Foreign exchange effects			(38)	9		(29)		(29)
Other				(3)		(3)		(3)
Total recognised income / expense for the period			(38)	6	667	635		635
Final dividend previous year					(142)	(142)		(142)
Appropriation of net income				73	(73)
Interim dividend current year					(95)	(95)		(95)
Repurchase of shares				(151)		(151)		(151)
Minimum pension liabilities							(454)	(454)
Other				3		3		3
Total direct changes in equity				(75)	(310)	(385)	(454)	(839)
Balance at 31 December 2004	230	1,421	(168)	1,164	572	3,219	(454)	2,765
(in € millions) The accompanying notes form an integral part of the financial statements. Per 1 January 2003 dividends proposed, but not yet declared are presented as a component of equity instead of as a liability.