Annual Report 2023

Consolidated Financial Statements

Statement of Changes in Equity

of the Volkswagen Group for the period January 1 to December 31, 2023

 

 

 

 

 

 

 

 

OTHER RESERVES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HEDGING

 

 

 

 

 

 

 

 

 

 

 

 

€ million

 

Subscribed capital

 

Capital reserve

 

Retained earnings

 

Currency trans­lation reserve

 

Cash flow hedges
(OCI I)

 

Deferred costs of hedging
(OCI II)

 

Equity and debt instru­ments

 

Equity-accounted invest­ments

 

Equity attri­butable to Volks­wagen AG hybrid capital investors

 

Equity attri­butable to Volks­wagen AG share­holders and hybrid capital investors

 

Non­controlling interests

 

Total equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unadjusted balance at
Jan. 1, 2022

 

1,283

 

14,551

 

117,342

 

−2,351

 

−635

 

−367

 

−355

 

541

 

14,439

 

144,449

 

1,705

 

146,154

Changes in accounting policy to reflect IFRS 17

 

–

 

–

 

−11

 

–

 

–

 

–

 

–

 

1

 

–

 

−11

 

–

 

−11

Balance at Jan. 1, 2022

 

1,283

 

14,551

 

117,331

 

−2,351

 

−635

 

−367

 

−355

 

542

 

14,439

 

144,438

 

1,705

 

146,143

Earnings after tax

 

–

 

–

 

14,881

 

–

 

–

 

–

 

–

 

–

 

576

 

15,457

 

395

 

15,852

Other comprehensive income, net of tax

 

–

 

–

 

10,243

 

321

 

1,920

 

−885

 

−705

 

325

 

–

 

11,218

 

241

 

11,459

Total comprehensive income

 

–

 

–

 

25,124

 

321

 

1,920

 

−885

 

−705

 

325

 

576

 

26,676

 

636

 

27,312

Disposal of equity instruments

 

–

 

–

 

−58

 

–

 

–

 

–

 

58

 

–

 

–

 

–

 

–

 

–

Capital increases/Capital decreases

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

−337

 

−337

 

103

 

−234

Dividends payment

 

–

 

–

 

−13,327

 

–

 

–

 

–

 

–

 

–

 

−557

 

−13,884

 

−257

 

−14,141

Capital transactions involving a change in ownership interest

 

–

 

–

 

8,148

 

−226

 

338

 

174

 

−3

 

0

 

–

 

8,432

 

10,796

 

19,228

Other changes

 

–

 

–

 

54

 

–

 

–

 

–

 

–

 

−3

 

–

 

51

 

−30

 

21

Balance at Dec. 31, 20221

 

1,283

 

14,551

 

137,272

 

−2,256

 

1,623

 

−1,077

 

−1,005

 

864

 

14,121

 

165,376

 

12,952

 

178,328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unadjusted balance at
Jan. 1, 2023

 

1,283

 

14,551

 

137,267

 

−2,256

 

1,623

 

−1,077

 

−1,005

 

870

 

14,121

 

165,378

 

12,950

 

178,327

Changes in accounting policy to reflect IFRS 17

 

–

 

–

 

5

 

–

 

–

 

–

 

–

 

−7

 

–

 

−1

 

2

 

1

Balance at Jan. 1, 2023

 

1,283

 

14,551

 

137,272

 

−2,256

 

1,623

 

−1,077

 

−1,005

 

864

 

14,121

 

165,376

 

12,952

 

178,328

Earnings after tax

 

–

 

–

 

16,013

 

–

 

–

 

–

 

–

 

–

 

586

 

16,599

 

1,329

 

17,928

Other comprehensive income, net of tax

 

–

 

–

 

−1,153

 

−1,163

 

−151

 

401

 

52

 

−388

 

–

 

−2,402

 

64

 

−2,339

Total comprehensive income

 

–

 

–

 

14,860

 

−1,163

 

−151

 

401

 

52

 

−388

 

586

 

14,197

 

1,393

 

15,589

Disposal of equity instruments

 

–

 

–

 

13

 

–

 

–

 

–

 

−13

 

–

 

–

 

–

 

–

 

–

Capital increases/Capital decreases

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

1,004

 

1,004

 

3

 

1,008

Dividends payment

 

–

 

–

 

−4,374

 

–

 

–

 

–

 

–

 

–

 

−556

 

−4,930

 

−54

 

−4,984

Capital transactions involving a change in ownership interest

 

–

 

–

 

−42

 

−11

 

–

 

–

 

–

 

–

 

–

 

−54

 

−27

 

−80

Other changes

 

–

 

–

 

100

 

–

 

–

 

–

 

–

 

–

 

–

 

100

 

−50

 

51

Balance at Dec. 31, 2023

 

1,283

 

14,551

 

147,830

 

−3,431

 

1,472

 

−676

 

−966

 

476

 

15,155

 

175,694

 

14,218

 

189,912

1

Prior-year figures adjusted (see disclosures on IFRS 17 in the “Effects of new and amended IFRSs” section).

Explanatory notes on equity are presented in the note relating to equity.

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