Financial performance Financial statements 05 8.2 Ordinary bonds and other borrowings (in € thousands) Annual interest December 31, 2024 December 31, 2023 ORDINARY BONDS AND OTHER BORROWINGS (NOTE 11) 2018-2025 bond issue 0.875% 750,000 750,000 2018-2030 bond issue 1.750% 1,000,000 1,000,000 2018-2038 bond issue 2.500% 750,000 750,000 2015-2027 bond issue 1.750% 300,000 300,000 2015/16-2045 bond issue 3.250% 314,954 315,578 2020-2028 bond issue 0.000% 500,000 500,000 2020-2032 bond issue 0.250% 500,000 500,000 2020-2040 bond issue 0.625% 500,000 500,000 2024-2031 bond issue 3.125% 500,000 - 2024-2036 bond issue 3.375% 500,000 - Accrued interest on ordinary bonds and other borrowings 40,911 20,381 Negotiable European Commercial Paper (NEU CP) 250,000 250,000 US Commercial Paper (US CP) 47,943 44,992 TOTAL 5,953,808 4,930,951 The Negotiable European Commercial Paper program totals €2.5 billion, and the US Commercial Paper program amounts to USD 700 million. Note 9 SHARE CAPITAL AND PAID-IN CAPITAL IN EXCESS OF PAR Share capital and paid-in capital in excess of par break down as follows: (in € thousands) Share capital Share premiums Total At January 1, 2024: 714,958,226 shares 357,479 2,701,773 3,059,253 Performance shares: 931,739 shares delivered 466 466 Bib'Action: 4,334,410 shares issued 2,168 118,340 120,508 Share cancellations: 14,477,103 treasury shares canceled (7,239) (494,261) (501,500) AT DECEMBER 31, 2024: 705,747,272 SHARES 352,874 2,325,852 2,678,726 The shares have a par value of €0.50. All outstanding shares are registered and fully paid. Note 10 OTHER EQUITY (in € thousands) Revaluation reserve Other reserves Retained earnings Net income Untaxed reserves Total At January 1, 2024 624,772 1,282,573 1,885,645 272,053 61,598 4,126,641 Appropriation of 2023 net income - - (692,414) (272,053) - (964,467) Share issues - (466) - (466) 2024 net income - - - 1,216,874 - 1,216,874 AT DECEMBER 31, 2024 624,772 1,282,107 1,193,231 1,216,874 61,598 4,378,582 At the 2024 Annual Shareholders Meeting, shareholders approved the payment of a dividend of €1.35 per share, representing a total payout of €964 million after deducting the €3.3 million profit share allocated to the General Partners in accordance with the Bylaws. 450 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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