4.5.5Shareholders Equity
For an explanation of the shareholders equity, reference is made to the Consolidated Statement of Changes in Equity and note 4.3.23 Equity Attributable to Shareholders .
Legal reserve
|
31 December 2018 |
31 December 2017 |
||
|---|---|---|---|
|
Investees equity non-distributable1 |
1,232 |
1,124 |
|
|
Capitalized development expenditure2 |
15 |
14 |
|
|
Translation reserve |
(79) |
(62) |
|
|
Cash flow hedges |
(52) |
(26) |
|
|
Total |
1,116 |
1,051 |
- 1 Including US$ 75 million of Swiss entities legal reserves.
- 2 Relates to the Company subsidiaries.
Under the Dutch guidelines for financial reporting which apply to the Company statement of financial position, a legal reserve must be maintained for the above-mentioned items.
Proposed Appropriation of Result
With the approval of the Supervisory Board, it is proposed that the result shown in SBM Offshore N.V. income statement be appropriated as follows (in US$):
Appropriation of result
|
2018 |
|||
|---|---|---|---|
|
Profit/(Loss) attributable to shareholders |
212 |
||
|
In accordance with note 4.6.1 to be transferred to the 'Retained earnings' |
212 |
||
|
At the disposal of the General Meeting of Shareholders |
- |
It is proposed that US$ 75 million of retained earnings is distributed among the shareholders.