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6
Company financial statements at December 31, 2007
Liabilities
and shareholders’ equity (thousands)
Dec. 31, 2007 Dec. 31, 2006 Dec. 31, 2005
Shareholders' equity:
Capital stock
(note 7a)
1,962,395 1,821,587 1,812,954
Additional paid-in capital
(note 7b)
5,254,342 4,121,037 4,068,968
Reserves and retained earnings
Legal reserve 192,650 192,650 192,650
Retained earnings
(note 7c)
483,792 275,145 323,112
Net income for the year 226,643 887,825 450,793
Untaxed provisions 425 425 425
Total shareholders' equity 8,120,247 7,298,669 6,848,902
Reserves for contingencies and pension accruals:
(note 8)
Reserves for contingencies 997 4,730 6,613
Accruals for pensions 31,699 31,226 30,395
Total reserves for contingencies and pension accruals 32,696 35,956 37,008
Non-current liabilities:
Bonds
(note 9)
3,960,000 3,700,000 2,700,000
Other borrowings
(note 10)
1,235,074 99,806 30,708
Amounts payable to subsidiaries and affiliates 13 13 13
Interest bearing liabilities 3,225 3,221 3,073
5,198,312 3,803,040 2,733,794
Current liabilities:
Accounts payable - trade 86 52 4,472
Accrued taxes and payroll costs 4,007 3,972 1,880
Other liabilities 4,693 1,769 2,192
8,786 5,793 8,544
Total non-current and current liabilities 5,207,098 3,808,833 2,742,338
Deferred income
(note 11)
1,313 551 756
Translation gains 6,408 --
Total liabilities and shareholders' equity 13,367,762 11,144,009 9,629,004
The notes form an integral part of these financial statements.
157