24. Shareholders’ Equity Attributable to Parent Company Shareholders and Shareholders’ Equity Attributable to Minority Shareholders

Shareholders’ equity attributable to Parent Company shareholders amounted to 7,939 million euros, for a decrease of 138 million euros compared with December 31, 2009 (8,077 million euros). This reduction is the net result of the resolution approving a dividend distribution totaling 228 million euros (equal to a dividend of 0.0425 euros on each common share and 0.0725 euros on each savings share), offset in part by a change in the reserve for Cash Flow Hedge transactions (increase of 58 million euros) and by the profit for the year amounting to 21 million euros.

Shareholders’ equity attributable to minority shareholders totaled 198 million euros, or 21 million euros more than at December 31, 2009 (177 million euros) due mainly to a share capital increase carried out by joint ventures (10 million euros) and the profit for the year (28 million euros), offset in part by the impact of the distribution of dividends attributable to minority shareholders (16 million euros).

A breakdown of the shareholders’ equity attributable to Parent Company shareholders and to minority shareholders is provided in the schedule entitled “Changes in Consolidated Shareholders’ Equity”.

A breakdown of share capital, which consists of shares with a par value of 1 euro each, all with regular ranking for dividends, is as follows:

The table below provides a breakdown of the changes that occurred in the reserve for Cash Flow Hedge transactions, established upon the adoption of IAS 32 and IAS 39 for the accounting treatment of derivatives. The change refers to the provisional recognition in equity of changes in the fair value of derivatives executed to hedge price and foreign exchange risks on energy commodities and interest rates.

Cash Flow Hedge reserve

The table below shows the changes that occurred in the reserve for available-for-sale investments:

Reserve for available-for-sale investments