Allianz Group Consolidated Statements of Changes in Equity

Consolidated Statements of Changes in Equity


	Paid-in capital € mn	Revenue reserves € mn	Foreign currency translation adjustments € mn	Unrealized gains and losses (net) € mn	Shareholders’ equity € mn	Minority interests € mn	Total equity € mn
Balance as of January 1, 2004	19,347	4,093	(1,893)	6,446	27,993	7,266	35,259
Foreign currency translation adjustments	—	—	(805)	(12)	(817)	(2)	(819)
Available-for-sale investments
Unrealized gains and losses (net) arising during the year¹⁾	—	—	—	2,336	2,336	482	2,818
Transferred to net income on disposal²⁾	—	—	—	(1,405)	(1,405)	(166)	(1,571)
Cash flow hedges	—	—	—	225	225	(1)	224
Miscellaneous	—	217	—	(260)	(43)	(533)	(576)
Total income and expense recognized directly in shareholders' equity	—	217	(805)	884	296	(220)	76
Net income	—	2,266	—	—	2,266	1,168	3,434
Total recognized income and expense for the year	—	2,483	(805)	884	2,562	948	3,510
Paid-in capital	86	—	—	—	86	—	86
Treasury shares	—	(59)	—	—	(59)	—	(59)
Transactions between equity holders	—	(73)	64	(27)	(36)	—	(36)
Dividends paid	—	(551)	—	—	(551)	(518)	(1,069)
Balance as of December 31, 2004	19,433	5,893	(2,634)	7,303	29,995	7,696	37,691
Foreign currency translation adjustments	—	—	1,601	50	1,651	33	1,684
Available-for-sale investments
Unrealized gains and losses (net) arising during the year¹⁾	—	—	—	3,805	3,805	549	4,354
Transferred to net income on disposal²⁾	—	—	—	(1,114)	(1,114)	(133)	(1,247)
Cash flow hedges	—	—	—	3	3	—	3
Miscellaneous	—	370	—	—	370	141	511
Total income and expense recognized directly in shareholders' equity	—	370	1,601	2,744	4,715	590	5,305
Net income	—	4,380	—	—	4,380	1,386	5,766
Total recognized income and expense for the year	—	4,750	1,601	2,744	9,095	1,976	11,071
Paid-in capital	2,183	—	—	—	2,183	—	2,183
Treasury shares	—	352	—	—	352	—	352
Transactions between equity holders	—	(1,742)	1	277	(1,464)	(1,328)	(2,792)
Dividends paid	—	(674)	—	—	(674)	(729)	(1,403)
Balance as of December 31, 2005	21,616	8,579	(1,032)	10,324	39,487	7,615	47,102
Foreign currency translation adjustments	—	—	(1,175)	(4)	(1,179)	(276)	(1,455)
Available-for-sale investments
Unrealized gains and losses (net) arising during the year¹⁾³⁾	—	—	—	4,731	4,731	20	4,751
Transferred to net income on disposal²⁾	—	—	—	(1,744)	(1,744)	(146)	(1,890)
Cash flow hedges	—	—	—	1	1	—	1
Miscellaneous	—	246	—	—	246	111	357
Total income and expense recognized directly in shareholders' equity	—	246	(1,175)	2,984	2,055	(291)	1,764
Net income	—	7,021	—	—	7,021	1,289	8,310
Total recognized income and expense for the year	—	7,267	(1,175)	2,984	9,076	998	10,074
Paid-in capital	129	—	—	—	129	—	129
Treasury shares	—	910	—	—	910	—	910
Transactions between equity holders	3,653	(2,316)	(3)	356	1,690	(1,552)	138
Dividends paid	—	(811)	—	—	(811)	(652)	(1,463)
Balance as of December 31, 2006	25,398	13,629	(2,210)	13,664	50,481	6,409	56,890

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(1)

During the year ended December 31, 2006 unrealized gains and losses (net) arising during the year included in shareholders’ equity are net of deferred tax benefit of € 478 mn (2005: deferred tax charge of € 568 mn; 2004: deferred tax charge of € 868 mn).

(2)

During the year ended December 31, 2006, realized gains/losses (net) transferred to net income on disposal are net of income tax charge of € 308 mn (2005: € 303 mn; 2004: € 318 mn).

(3)

Includes € 2,005 mn unrealized gains from the investment in Industrial and Commercial Bank of China (“ICBC”) as of December 31, 2006.