SYT » Topics » Comparative figures have been adjusted to apply retroactively the changes in accounting policy described in Note 2 below.

This excerpt taken from the SYT 20-F filed Mar 16, 2005.


Comparative figures have been adjusted to apply retroactively the changes in accounting policy described in Note 2 below.

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Total recognized gains and losses, representing the total of net income and gains and losses recognized directly in shareholders’ equity, for the years ended December 31, 2004, 2003 and 2002, were US$809 million, US$749 million and US$297 million, respectively. Gains or losses recognized directly in equity attributable to minority interests are disclosed below.

The amount available for dividend distribution is based on Syngenta AG’s shareholders’ equity determined in accordance with the legal provisions of the Swiss Code of Obligations. US$105 million of the additional paid in capital is not available for distribution.

On July 16, 2004, a dividend of Swiss francs (“CHF”) 1.70 per share was paid as a par value reduction of share capital in respect of 2003 (2002: dividend of CHF 0.85 per share paid in April 2003; 2001: CHF 0.80 per share paid in May 2002).

The Board of Directors proposes a dividend in respect of 2004 of CHF 2.70 per share, to be paid by way of a nominal par value reduction, subject to shareholder approval.

The following summarizes the movements on the cash flow hedge reserve:


(US$ million)   2004   2003   2002

January 1   48   12   (17 )
Gains/(losses) recognized in equity during the period   39   86   69
(Gains)/losses removed from equity and reported in net income during the period   (48 )   (42 )   (43 )
(Gains)/losses removed from equity and adjusted against carrying amount of related asset      
     or liability       4
Deferred tax     (8 )   (1 )

December 31   39   48   12


The following summarizes the movements on the fair value reserve for available-for-sale financial instruments:


(US$ million)   2004   2003   2002

January 1   (24 )   (39 )   (11 )
Gains/(losses) recognized in equity during the period   9   17   (40 )
Gains/(losses) removed from equity and reported in net income during the period      
Deferred tax   (4 )   (2 )   12

December 31   (19 )   (24 )   (39 )


The following summarizes the movements in minority interest:


(US$ million)   2004   2003   2002

January 1   67   80   73
Share of result for the year   (32 )   4   6
Business combinations   (13 )   (19 )   (2 )
Dividends paid to minorities   (1 )   (4 )   (6 )
Currency movements   (1 )   6   9

December 31   20   67   80


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