How is the following obtained?
IFRS 13-04 a-b (Part Level Submission) The financial statements of Louis Vuitton are presented in Appendix F. The complete annual report, including the notes to its financial statements, are also provided in Appendix F. Click here to view Appendix F. Use the company's annual report to answer the following questions. x Your answer is incorrect. Try again. Determine the following amounts at December 31, 2015: 1. Total equity 1 25,709 25,799 2. Total revaluation reserve 3. Number of treasury shares 507,139,110 Click if you would like to Show Work for this question: Open Show Work CONSOLIDATED INCOME STATEMENT (EUR millions, except for earnings per share) Notes 2015 2014 2013 23-24 Revenue Cost of sales 35,664 (12,553) 30,638 (10,801) 29,016 19,997) 19,837 19,019 23,111 (13,830) (2,663) (13) 6,605 (221) (11,744) (2,373) (5) 5,715 (284) (10,767) (2,212) (23) 6,017 23-24 25 (119) 5,898 Gross margin Marketing and selling expenses General and administrative expenses Income (loss) from joint ventures and associates Profit from recurring operations Other operating income and expenses Operating profit Cost of net financial debt Other financial income and expenses Net financial income (expense) Income taxes Net profit before minority interests Minority interests Net profit, Group share 6,384 (78) 5,431 (115) 3,062 (101) 1336) 1971 2,947 (414) (1,969) 4,001 (428) (2,273) 6,105 (198) (1,753) 3,947 (511) 3,436 (457) 3,573 5,648 28 Basic Group share of net earnings per share (EUR) Number of shares on which the calculation is based 7.11 502,395,491 7.08 504,894,946 11.27 501,309,369 11.21 503,861,733 6.87 500,283,414 6.83 503,217,497 Diluted Group share of net earnings per share (EUR) Number of shares on which the calculation is based CONSOLIDATED STATEMENT OF COMPREHENSIVE GAINS AND LOSSES (EUR milions) 2015 2014 2013 Net profit before minority interests 4,001 6,105 3,947 Translation adjustments Tax impact 534 (346) 104 (48) 638 (394) 963 Change in value of available for sale financial assets Amounts transferred to income statement Tax impact 494 (3,326) 184 (16) Change in value of hedges of future foreign currency cash flows Amounts transferred to income statement Tax impact (2,648) (30) (163) (265) (136) (2,146) Gains and losses recognized in equity, transferable to income statement (17) Change in value of vineyard land Amounts transferred to consolidated reserves Tax impact (10) 9 (18) Employee benefit commitments: change in value resulting from actuarial gains and losses Tax impact (161) (109) (127) Gains and losses recognized in equity, not transferable to income statement 3,832 4,787 Comprehensive income Minority interests Comprehensive income, Group share 4,706 (558) 4,148 (565) (532) 3,267 4,255 CONSOLIDATED BALANCE SHEET ASSETS EUR millions Notes 2015 2014 2013 Brands and other intangible assets Goodwill Property, plant and equipment Investments in joint ventures and associates Non-current available for sale financial assets Other non-current assets Deferred tax 13,572 10,122 11,157 729 574 552 1,945 38,651 10,096 2,521 Non-current assets 13,031 8,810 10,387 519 580 489 1,436 35,252 9,475 2,274 354 1,916 4,091 18,110 12,596 9,058 9,621 480 7,080 457 913 40,205 8,492 2,174 223 1,856 3,226 15,971 384 Inventories and work in progress Trade accounts receivable Income taxes Other current assets Cash and cash equivalents Current assets 2,355 3,594 18,950 Total assets 57,601 53,362 56,176 Notes 2015 2014 LIABILITIES AND EQUITY EUR millions 2013 152 2,579 15.1 15.1 15.2 15.4 152 3,849 (451) 1240) 152 2,655 (374) 492 1,019 12,171 5,648 Share capital Share premium account Treasury shares and LVMH share-settled derivatives Cumulative translation adjustment Revaluation reserves Other reserves Net profit, Group share Equity, Group share Minority interests Total equity Long-term borrowings Non-current provisions Deferred tax Other non-current liabilities 21,763 1,137 949 16,189 3,573 24,339 1,460 25,799 4,511 1,950 4,685 7,957 1,240 23,003 5,054 2,291 4,392 6,447 18,184 3,900 16,001 3,436 26,879 1,028 27,907 4,149 1,797 4,280 6,404 16,630 4,674 3,297 357 324 2,987 11,639 Non-current liabilities 19,103 Short-term borrowings Trade accounts payable Income taxes Current provisions Other current liabilities 19 21.2 3,769 3,960 640 421 3,909 12,699 4,189 3,606 549 332 3,499 12,175 Current liabilities Total liabilities and equity 57,601 53,362 56,176 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY EUR millions Revaluation reserves Number of shares Share capital Net profit and other reserves Share Treasury Cumulative premium shares and translation account LVMH adjustment share settled derivatives Total equity Total Vineyard and Group share Minority interests Revailable for sale financial assets Hedges of future foreign currency cash flows Employee benefit commit- ments 17 15.1 1 52 15. 2 4141 3 ,848 154 342 350 1943 912 118 18 758 188 1 88 51 17,765 - 3.436 3,436 31 24,424 819 3.436 4,255 31 1,084 21 511 532 3 25,508 840 3.947 4,787 34 - 3501 912 18 188 51 11031 17 (1101 - 11101 16666 11,5001 1,5001 - 228 235 (1,728| 235 1731 173 76 149) 1 52 3,849 4511 2 181 500 ,855 2,648) 136 (122 946 ( 15 1371 96 12161 19,437 - 5.648 ,648 216) 26,879 12,381 5.648 3,267 529 1,028 1 08 457 565 2 1745) 27,907 12,273) 6,105 3,832 - - 500 12,648) [122] (15) 196 5 37 37 39 27 Notes As of December 31, 2012 508,163,349 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settled derivatives Exercise of LVMH share subscription options 1.025.418 Retirement of LVMH shares 11,395,106) Capital increase in subsidiaries Interim and final dividends paid Acquisition of a controlling interest in Loro Piana Changes in control of consolidated entities Acquisition and disposal of minority interests shares Purchase commitments for minority interests' shares As of December 31, 2013 507,793,661 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settied derivatives Exercise of LVMH share subscription options 980 323 Retirement of LVMH shares 11.062,2711 Capital increase in subsidiaries Interim and final dividends paid Distribution in kind of Herms shares. See Note 8. Changes in control of consolidated entities Acquisition and disposal of minority interests' shares Purchase commitments for minority interests shares As of December 31, 2014 507,711,713 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settled derivatives Exercise of LVMH share subscription options 552.137 Retirement of LVMH shares 1.124,740 Capital increase in subsidiaries Interim and final dividends paid Changes in control of consolidated entities Acquisition and disposal of minority interests shares Purchase commitments for minority interests shares As of December 31, 2015 507,139,110 150 50 33 3 28 (1,9071 11,5791 1,5791 11,2031 15,652 16,855 - 11 16,8551 6 151 15 152 2,655 (374) 492 645 207 103 14 25 931 3 3 1331 25 1481 17,819 . 3,573 3,573 48 21,763 575 3.573 4,168 (731 1,240 130 428 558 30 1211 23,003 705 4.001 4,706 - 645 (103) (25 33 25 35 352 37 113110 11111 1 11 11,659) 191 (1,659 229 1911 11.888) 181 1111198 10819,762 24,339 1460 (187) 25,799 1 522 ,579 240 1,137 1 04 (11) 964 CONSOLIDATED CASH FLOW STATEMENT Notes 2015 2014 2013 5,431 5,898 26 EUR millions I. OPERATING ACTIVITIES AND OPERATING INVESTMENTS Operating profit Income/(loss) and dividends from joint ventures and associates Net increase in depreciation, amortization and provisions Other computed expenses Other adjustments Cash from operations before changes in working capital Cost of net financial debt: interest paid Income taxes paid Net cash from operating activities before changes in working capital Change in working capital 6,384 27 2,081 (456) (91) 1,895 (188) (84) 7,945 1,435 1291 (76) 7,277 (111) (1,832) 5,334 (620) 7,080 (116) (1,639) (75) (1,807) 14.1 6,063 (429) 5,325 1718) 14.2 5,634 (1,955) 4,607 (1,775) 2,832 4,714 (1,657) 3,057 3,679 (78) (197) (57) 160 68 2.4 (265) (240) (511) (237) (167) (11) (2,161) (2,260) 17 Net cash from operating activities Operating investments Net cash from operating activities and operating investments (free cash flow) IL FINANCIAL INVESTMENTS Purchase of non-current available for sale financial assets Proceeds from sale of non-current available for sale financial assets Dividends received Income taxes paid related to financial investments Impact of purchase and sale of consolidated investments 1 Net cash from (used in) financial investments III. TRANSACTIONS RELATING TO EQUITY Capital increases of LVMH SE Capital increases of subsidiaries subscribed by minority interests Acquisition and disposals of treasury shares and LVMH share-settled derivatives Interim and final dividends paid by LVMH SE Income taxes paid related to interim and final dividends paid Interim and final dividends paid to minority interests in consolidated subsidiaries Purchase and proceeds from sale of minority interests Net cash from (used in) transactions relating to equity Change in cash before financing activities IV. FINANCING ACTIVITIES Proceeds from borrowings Repayment of borrowings Purchase and proceeds from sale of current available for sale financial assets Net cash from (used in) financing activities V. EFFECT OF EXCHANGE RATE CHANGES NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (I+11+011+IV+V) 15.2 15.3 11,671) (304) 11,619) (79) (113) 11,501) (137) (228) (336) 10 (1,961) 639 (220) (150) (2,048) (1,251) (2,090) 1,078 1,008 12,443) 2,407 (2,100) 3,095 (1,057) 101 13 (1061 2.139 (1,438] (33) (393) 47 935 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT END OF PERIOD TOTAL INCOME TAXES PAID 3,783 3,390 867 2,916 3,783 (1,955) 1,981 2,916 (2,376) (1,980) Transactions included in the table above, generating no change in cash: - acquisition of assets by means of finance leases IFRS 13-04 a-b (Part Level Submission) The financial statements of Louis Vuitton are presented in Appendix F. The complete annual report, including the notes to its financial statements, are also provided in Appendix F. Click here to view Appendix F. Use the company's annual report to answer the following questions. x Your answer is incorrect. Try again. Determine the following amounts at December 31, 2015: 1. Total equity 1 25,709 25,799 2. Total revaluation reserve 3. Number of treasury shares 507,139,110 Click if you would like to Show Work for this question: Open Show Work CONSOLIDATED INCOME STATEMENT (EUR millions, except for earnings per share) Notes 2015 2014 2013 23-24 Revenue Cost of sales 35,664 (12,553) 30,638 (10,801) 29,016 19,997) 19,837 19,019 23,111 (13,830) (2,663) (13) 6,605 (221) (11,744) (2,373) (5) 5,715 (284) (10,767) (2,212) (23) 6,017 23-24 25 (119) 5,898 Gross margin Marketing and selling expenses General and administrative expenses Income (loss) from joint ventures and associates Profit from recurring operations Other operating income and expenses Operating profit Cost of net financial debt Other financial income and expenses Net financial income (expense) Income taxes Net profit before minority interests Minority interests Net profit, Group share 6,384 (78) 5,431 (115) 3,062 (101) 1336) 1971 2,947 (414) (1,969) 4,001 (428) (2,273) 6,105 (198) (1,753) 3,947 (511) 3,436 (457) 3,573 5,648 28 Basic Group share of net earnings per share (EUR) Number of shares on which the calculation is based 7.11 502,395,491 7.08 504,894,946 11.27 501,309,369 11.21 503,861,733 6.87 500,283,414 6.83 503,217,497 Diluted Group share of net earnings per share (EUR) Number of shares on which the calculation is based CONSOLIDATED STATEMENT OF COMPREHENSIVE GAINS AND LOSSES (EUR milions) 2015 2014 2013 Net profit before minority interests 4,001 6,105 3,947 Translation adjustments Tax impact 534 (346) 104 (48) 638 (394) 963 Change in value of available for sale financial assets Amounts transferred to income statement Tax impact 494 (3,326) 184 (16) Change in value of hedges of future foreign currency cash flows Amounts transferred to income statement Tax impact (2,648) (30) (163) (265) (136) (2,146) Gains and losses recognized in equity, transferable to income statement (17) Change in value of vineyard land Amounts transferred to consolidated reserves Tax impact (10) 9 (18) Employee benefit commitments: change in value resulting from actuarial gains and losses Tax impact (161) (109) (127) Gains and losses recognized in equity, not transferable to income statement 3,832 4,787 Comprehensive income Minority interests Comprehensive income, Group share 4,706 (558) 4,148 (565) (532) 3,267 4,255 CONSOLIDATED BALANCE SHEET ASSETS EUR millions Notes 2015 2014 2013 Brands and other intangible assets Goodwill Property, plant and equipment Investments in joint ventures and associates Non-current available for sale financial assets Other non-current assets Deferred tax 13,572 10,122 11,157 729 574 552 1,945 38,651 10,096 2,521 Non-current assets 13,031 8,810 10,387 519 580 489 1,436 35,252 9,475 2,274 354 1,916 4,091 18,110 12,596 9,058 9,621 480 7,080 457 913 40,205 8,492 2,174 223 1,856 3,226 15,971 384 Inventories and work in progress Trade accounts receivable Income taxes Other current assets Cash and cash equivalents Current assets 2,355 3,594 18,950 Total assets 57,601 53,362 56,176 Notes 2015 2014 LIABILITIES AND EQUITY EUR millions 2013 152 2,579 15.1 15.1 15.2 15.4 152 3,849 (451) 1240) 152 2,655 (374) 492 1,019 12,171 5,648 Share capital Share premium account Treasury shares and LVMH share-settled derivatives Cumulative translation adjustment Revaluation reserves Other reserves Net profit, Group share Equity, Group share Minority interests Total equity Long-term borrowings Non-current provisions Deferred tax Other non-current liabilities 21,763 1,137 949 16,189 3,573 24,339 1,460 25,799 4,511 1,950 4,685 7,957 1,240 23,003 5,054 2,291 4,392 6,447 18,184 3,900 16,001 3,436 26,879 1,028 27,907 4,149 1,797 4,280 6,404 16,630 4,674 3,297 357 324 2,987 11,639 Non-current liabilities 19,103 Short-term borrowings Trade accounts payable Income taxes Current provisions Other current liabilities 19 21.2 3,769 3,960 640 421 3,909 12,699 4,189 3,606 549 332 3,499 12,175 Current liabilities Total liabilities and equity 57,601 53,362 56,176 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY EUR millions Revaluation reserves Number of shares Share capital Net profit and other reserves Share Treasury Cumulative premium shares and translation account LVMH adjustment share settled derivatives Total equity Total Vineyard and Group share Minority interests Revailable for sale financial assets Hedges of future foreign currency cash flows Employee benefit commit- ments 17 15.1 1 52 15. 2 4141 3 ,848 154 342 350 1943 912 118 18 758 188 1 88 51 17,765 - 3.436 3,436 31 24,424 819 3.436 4,255 31 1,084 21 511 532 3 25,508 840 3.947 4,787 34 - 3501 912 18 188 51 11031 17 (1101 - 11101 16666 11,5001 1,5001 - 228 235 (1,728| 235 1731 173 76 149) 1 52 3,849 4511 2 181 500 ,855 2,648) 136 (122 946 ( 15 1371 96 12161 19,437 - 5.648 ,648 216) 26,879 12,381 5.648 3,267 529 1,028 1 08 457 565 2 1745) 27,907 12,273) 6,105 3,832 - - 500 12,648) [122] (15) 196 5 37 37 39 27 Notes As of December 31, 2012 508,163,349 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settled derivatives Exercise of LVMH share subscription options 1.025.418 Retirement of LVMH shares 11,395,106) Capital increase in subsidiaries Interim and final dividends paid Acquisition of a controlling interest in Loro Piana Changes in control of consolidated entities Acquisition and disposal of minority interests shares Purchase commitments for minority interests' shares As of December 31, 2013 507,793,661 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settied derivatives Exercise of LVMH share subscription options 980 323 Retirement of LVMH shares 11.062,2711 Capital increase in subsidiaries Interim and final dividends paid Distribution in kind of Herms shares. See Note 8. Changes in control of consolidated entities Acquisition and disposal of minority interests' shares Purchase commitments for minority interests shares As of December 31, 2014 507,711,713 Gains and losses recognized in equity Net profit Comprehensive income Stock option plan and similar expenses Acquisition disposal of treasury shares and LVMH share-settled derivatives Exercise of LVMH share subscription options 552.137 Retirement of LVMH shares 1.124,740 Capital increase in subsidiaries Interim and final dividends paid Changes in control of consolidated entities Acquisition and disposal of minority interests shares Purchase commitments for minority interests shares As of December 31, 2015 507,139,110 150 50 33 3 28 (1,9071 11,5791 1,5791 11,2031 15,652 16,855 - 11 16,8551 6 151 15 152 2,655 (374) 492 645 207 103 14 25 931 3 3 1331 25 1481 17,819 . 3,573 3,573 48 21,763 575 3.573 4,168 (731 1,240 130 428 558 30 1211 23,003 705 4.001 4,706 - 645 (103) (25 33 25 35 352 37 113110 11111 1 11 11,659) 191 (1,659 229 1911 11.888) 181 1111198 10819,762 24,339 1460 (187) 25,799 1 522 ,579 240 1,137 1 04 (11) 964 CONSOLIDATED CASH FLOW STATEMENT Notes 2015 2014 2013 5,431 5,898 26 EUR millions I. OPERATING ACTIVITIES AND OPERATING INVESTMENTS Operating profit Income/(loss) and dividends from joint ventures and associates Net increase in depreciation, amortization and provisions Other computed expenses Other adjustments Cash from operations before changes in working capital Cost of net financial debt: interest paid Income taxes paid Net cash from operating activities before changes in working capital Change in working capital 6,384 27 2,081 (456) (91) 1,895 (188) (84) 7,945 1,435 1291 (76) 7,277 (111) (1,832) 5,334 (620) 7,080 (116) (1,639) (75) (1,807) 14.1 6,063 (429) 5,325 1718) 14.2 5,634 (1,955) 4,607 (1,775) 2,832 4,714 (1,657) 3,057 3,679 (78) (197) (57) 160 68 2.4 (265) (240) (511) (237) (167) (11) (2,161) (2,260) 17 Net cash from operating activities Operating investments Net cash from operating activities and operating investments (free cash flow) IL FINANCIAL INVESTMENTS Purchase of non-current available for sale financial assets Proceeds from sale of non-current available for sale financial assets Dividends received Income taxes paid related to financial investments Impact of purchase and sale of consolidated investments 1 Net cash from (used in) financial investments III. TRANSACTIONS RELATING TO EQUITY Capital increases of LVMH SE Capital increases of subsidiaries subscribed by minority interests Acquisition and disposals of treasury shares and LVMH share-settled derivatives Interim and final dividends paid by LVMH SE Income taxes paid related to interim and final dividends paid Interim and final dividends paid to minority interests in consolidated subsidiaries Purchase and proceeds from sale of minority interests Net cash from (used in) transactions relating to equity Change in cash before financing activities IV. FINANCING ACTIVITIES Proceeds from borrowings Repayment of borrowings Purchase and proceeds from sale of current available for sale financial assets Net cash from (used in) financing activities V. EFFECT OF EXCHANGE RATE CHANGES NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (I+11+011+IV+V) 15.2 15.3 11,671) (304) 11,619) (79) (113) 11,501) (137) (228) (336) 10 (1,961) 639 (220) (150) (2,048) (1,251) (2,090) 1,078 1,008 12,443) 2,407 (2,100) 3,095 (1,057) 101 13 (1061 2.139 (1,438] (33) (393) 47 935 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT END OF PERIOD TOTAL INCOME TAXES PAID 3,783 3,390 867 2,916 3,783 (1,955) 1,981 2,916 (2,376) (1,980) Transactions included in the table above, generating no change in cash: - acquisition of assets by means of finance leases
