Notes to the Consolidated Financial Statements
1. Basic information and principles of the report
2. Changes in Group structure
3. Summary of significant accounting policies
4. Risk assessment and management
5. Management of capital
6. Trade accounts receivable
7. Other current assets and current financial assets
8. Inventories
9. Property, plant and equipment
10. Other non-current assets and non-current financial assets
11. Goodwill and intangible assets
12. Short-term debt
13. Other current liabilities and provisions
14. Long-term debt
15. Financial instruments
16. Retirement benefit plans
17. Participation plans
18. Deferred tax assets and liabilities
19. Other non-current liabilities and provisions
20. Contingencies
21. Capital stock and treasury shares
| 2017 | 2016 | |
|---|---|---|
| pcs. | pcs. | |
| Issued shares | ||
| 1 January | 37,041,427 | 37,798,427 |
| Capital reduction | 0 | -757,000 |
| 31 December | 37,041,427 | 37,041,427 |
Geberit AG launched a share buyback programme on 6 June 2017. Shares in an aggregate amount of up to CHF 450 million will be repurchased, less withholding tax, over a maximum period of three years. Based on the closing price of Geberit registered shares on 31 December 2017, this corresponds to around 1,050,000 registered shares or 2.8% of the share capital currently entered in the Commercial Register. The shares will be repurchased via a separate trading line on the SIX Swiss Exchange for the purpose of a capital reduction. By 31 December 2017, 205,250 shares had been repurchased for a total value of MCHF 91.8.
| 2017 | 2016 | |
|---|---|---|
| pcs. | pcs. | |
| Stock of treasury shares | ||
| From share buyback programmes | 205,250 | 0 |
| Other treasury shares | 186,390 | 239,869 |
| Total treasury shares | 391,640 | 239,869 |
The entire stock of treasury shares on 31 December 2017 amounted to 391,640 (PY: 239,869) with a carrying amount of MCHF 156.4 (PY: MCHF 79.4). Treasury shares are deducted from equity at historical cost.
For transactions in connection with the participation plans, see Note 17.