Page 253 - 2012 Annual Report

253
VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
III - CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 7 Earnings per share
6.6. TAX AUDITS
The fiscal year ended December 31, 2012 and prior years are open to
tax audits by the respective tax authorities in the jurisdictions in which
Vivendi has or had operations. Various tax authorities have proposed or
levied assessments for additional tax in respect of prior years. It is not
possible, at this stage of the current tax audits, to accurately assess the
impact that could result from an unfavorable outcome of certain of these
audits. Vivendi Management believes however, that it has serious legal
means to defend the positions it has chosen for the determination of the
taxable income of the fiscal years currently under a tax audit. Vivendi
Management believes that these tax audits will not have a material and
unfavorable impact on the results of operations, financial position or
liquidity of Vivendi. Moreover, the impact of the Consolidated Global Profit
Tax System in 2011 was accrued (€366 million), as well as the impact
related to the use of tax credits in 2012 (€208 million).
In addition, in respect of the Consolidated Global Profit Tax System,
the consolidated income reported for fiscal years 2006, 2007, and 2008
is under audit by the French tax authorities. This tax audit started in
January 2010. In addition, in January 2011, the French tax authorities
began a tax audit on the consolidated income reported for the fiscal year
2009 and in February 2013, the French tax authorities began a tax audit
on the consolidated income reported for the fiscal year 2010. Finally, the
consequences of the tax audit for fiscal years 2004 and 2005 did not
materially impact the amount of tax attributes.
Vivendi’s US tax group had been under tax audit for the fiscal years ending
December 31, 2005, 2006, and 2007. The consequences of this tax audit
did not materially impact the amount of tax attributes. Vivendi’s US tax
group is under tax audit for the fiscal years ending December 31, 2008,
2009, and 2010. This tax audit started in February 2012.
Finally, Maroc Telecom is under a tax audit for the fiscal years ending
December 31, 2005, 2006, 2007, and 2008. This tax audit is currently in
progress.
Note 7. Earnings per share
Year ended December 31,
2012 2011
Basic Diluted Basic Diluted
Earnings attributable to Vivendi SA shareowners (in millions of euros) 164 (a) 161 2,681 (a) 2,678
Number of shares (in millions)
Weighted average number of shares outstanding (b) (c) 1,298.9 1,298.9 1,281.4 1,281.4
Potential dilutive effects related to share-based compensation (d) - 3.5 - 2.4
Adjusted weighted average number of shares 1,298.9 1,302.4 1,281.4 1,283.8
Earnings attributable to Vivendi SA shareowners per share (in euros) (b) 0.13 0.12 2.09 2.09
Earnings from discontinued operations are not applicable over the presented periods. Therefore, the caption “earnings from continuing operations
attributable to Vivendi SA shareowners” relates to earnings attributable to Vivendi SA shareowners.
(a) Only includes the potential dilutive effect related to stock option plans and restricted stock rights of Activision Blizzard for a non-material amount
(please refer to Note 21.3).
(b) The weighted-average number of shares and earnings attributable to Vivendi SA shareowners per share have been adjusted for all periods previously
published in order to reflect the dilution arising from the grant to each shareowner on May 9, 2012 of one bonus share for each 30 shares held, in
accordance with IAS 33 – Earnings per share (please refer to Note 18).
(c) Net of treasury shares (please refer to Note 18).
(d) Does not include accretive instruments as of December 31, 2012 and December 31, 2011 which could potentially become dilutive. The balance of
common shares in connection with Vivendi SA’s share-based compensation plans is presented in Note 21.2.2.