4.5.5Shareholders Equity

For an explanation of the shareholders equity, reference is made to the consolidated statement of changes in equity and 4.3.23 Equity Attributable to Shareholders.

Legal reserve

31 December 2017

31 December 2016

Investees equity non-distributable1



Capitalized development expenditure2



Translation reserve



Cash flow hedges






  • 1 including US$ 70 million of Swiss entities legal reserves
  • 2 relates to the Company subsidiaries

Under the Dutch guidelines for financial reporting which apply to the Company statement of financial position, a legal reserve must be maintained for the above-mentioned items.

Proposed Appropriation of Result

With the approval of the Supervisory Board, it is proposed that the result shown in SBM Offshore N.V. income statement be appropriated as follows (in US$):

Appropriation of result


Profit/Loss attributable to shareholders


In accordance with Article 29 clause 4 to be transferred to the 'Retained earnings'


At the disposal of the General Meeting of Shareholders


It is proposed that US$ 51 million of retained earnings is distributed among the shareholders.