SNAM Consolidated half-year report at 30 June 2017 - Changes in shareholders’ equity

		Equity pertaining to Snam shareholders
(€ millions)	Note	Share capital	Negative reserve for treasury shares in the portfolio	Share premium reserve	Legal reserve	Reserve for fair value of cash flow hedging derivatives net of tax effect	Reserve for defined-benefit plans for employees net of tax effect	Consolidation reserve	Other reserves	Retained earnings	Net profit	Total	Minority interests	Total shareholders’ equity
Balance at 31 December 2015		3,697	(5)	1,603	739	(3)	(16)	(1,701)	46	1,987	1,238	7,585	1	7,586
Net profit for the first half of 2016											526	526		526
Other components of comprehensive income:
Components that can be reclassified to the income statement:
- Portion of equity investments valued using the equity method pertaining to “other components of comprehensive income”									(13)			(13)		(13)
- Change in fair value of cash flow hedging derivatives (effective share)						1						1		1
Total comprehensive income for the first half of 2016						1			(13)		526	514		514
- Allocation of dividend for 2015 (€0.25 per share)				(50)							(825)	(875)		(875)
- Allocation of 2015 residual net profit										413	(413)
Total transactions with shareholders				(50)						413	(1,238)	(875)		(875)
Other changes in shareholders’ equity				3				21	(1)	2		25		25
Balance on 30 June 2016		3,697	(5)	1,556	739	(2)	(16)	(1,680)	32	2,402	526	7,249	1	7,250
Net profit for the second half of 2016											335	335		335
Other components of comprehensive income:
Components that can be reclassified to the income statement:
- Portion of equity investments valued using the equity method pertaining to “other components of comprehensive income”									(2)			(2)		(2)
Components that cannot be reclassified to the income statement:
- Actuarial profit (loss) from re-measurement of defined-benefit plans for employees							(5)					(5)		(5)
- Portion of equity investments valued using the net worth method of the re-measurements of benefit plans defined for employees pertaining to “other components of comprehensive income”									1			1		1
Total comprehensive net income for the second half of 2016							(5)		(1)			(6)		(6)
Transactions with shareholders:
- Acquisition of treasury shares			(103)									(103)		(103)
- Effects of the separation of Italgas Reti S.p.A. from Snam S.p.A.		(961)		(416)	(192)		14	1,006		(433)		(982)	(1)	(983)
Total transactions with shareholders		(961)	(103)	(416)	(192)		14	1,006		(433)		(1,085)	(1)	(1,086)
Other changes in shareholders’ equity									4			4		4
Balance at 31 December 2016 (a)	(17)	2,736	(108)	1,140	547	(2)	(7)	(674)	35	1,969	861	6,497		6,497

Balance at 31 December 2016 (a)	(17)	2,736	(108)	1,140	547	(2)	(7)	(674)	35	1,969	861	6,497		6,497
Net profit for the first half of 2017											504	504		504
Other components of comprehensive income:
Components that can be reclassified to the income statement:
- Portion of equity investments valued using the net worth method pertaining to “other components of comprehensive income”									(2)			(2)		(2)
Total comprehensive income for the first half of 2017 (b)									(2)		504	502		502
Transactions with shareholders:
- Allocation of dividend for 2016 (€ 0.21 per share)											(718)	(718)		(718)
- Allocation of 2016 residual net profit										143	(143)
- Acquisition of treasury shares			(202)									(202)		(202)
Total transactions with shareholders (c)			(202)							143	(861)	(920)		(920)
Other changes in shareholders’ equity
- Convertible bond loan equity component									17			17		17
- Other changes									4			4		4
Total other changes in shareholders’ equity (d)									21			21		21
Balance on 30 June 2017 (e=a+b+c+d)	(17)	2,736	(310)	1,140	547	(2)	(7)	(674)	54	2,112	504	6,100		6,100

Statement of changes in shareholders’ equity