Financial performance 2024 consolidated financial statements 05 14.3 Financial information about equity-accounted companies The financial statements of equity-accounted companies other than TBC, Solesis and SIPH, which are not material taken individually, include the following amounts (information presented on a 100% basis): (in € millions) 2024 2023(1) Assets 1,779 2,551 Liabilities 1,442 2,121 Sales 1,856 2,256 Net income/(loss) (59) (120) (1) Data for fiscal 2023 has been restated to reflect the fact that SIPH is now presented separately. 14.4 Transactions with equity-accounted companies (related parties) Transactions and balances between the Group and its associates and joint ventures are presented in the table below: (in € millions) 2024 2023 INCOME STATEMENT Income for the sale of goods or supply of services 632 608 Expenses for the purchase of products or supply of services (338) (248) STATEMENT OF FINANCIAL POSITION Financial liabilities (7) (22) Trade payables (33) (10) Financial assets 444 479 Accounts receivable 253 242 Note 15 TOTAL EQUITY ACCOUNTING POLICIES Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds. Treasury shares are presented separately in reserves. The amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. When treasury shares are sold, the amount received is recognized as an increase in equity and the resulting surplus or deficit on the transaction is presented within retained earnings. Earnings per share Basic earnings per share are calculated by dividing income attributable to the shareholders of the Company by the weighted average number of shares outstanding during the year, excluding shares bought back by the Group and held as treasury shares. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding to assume conversion of all dilutive potential shares. 410 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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