231 ANNUAL REPORT 2010 NOTE 2.10 OTHER BORROWINGS NOTE 2.11 PROVISIONS NOTE 2.12 CONTINGENT ASSETS AND LIABILITIES NOTE 3  SHARES IN GROUP COMPANIES in the income statement on the purchase, sale, issue or  cancellation of the instruments. If sold, the difference between  the carrying amount and the proceeds is reflected in retained  earnings. The consideration paid or received is recognized  directly in shareholders’ equity. All treasury shares are  eliminated in the calculation of earnings per share and dividend  per common share. A financial instrument issued by the Company is classified as  a liability if the contractual obligation must be settled in cash  or another financial asset or through the exchange of financial  assets and liabilities at potentially unfavorable conditions for  the Company.  Other borrowings are initially recognized at their fair value  including directly attributable transaction costs and are  subsequently carried at amortized cost using the effective  interest rate method, with the exception of specific borrowings  that are designated as at fair value through profit or loss to  eliminate, or significantly reduce, an accounting mismatch, or  specific borrowings which are carried as at fair value through  the profit and loss as part of a fair value hedge relationship.  The liability is derecognized when the Company’s obligation  under the contract expires or is discharged or cancelled. A provision is recognized for present legal or constructive  obligations arising from past events, when it is probable that  it will result in an outflow of economic benefits and the amount  can be reliably estimated. For a list of names and locations of the most important  group companies, refer to note 51 of the consolidated  financial statements of the Group. The legally required list  of participations as set forth in article 379 of Book 2 of  the Netherlands Civil Code has been registered with the  Commercial Register of The Hague. The amount recognized as a provision is the best estimate of  the expenditure required to settle the present obligation at  the balance sheet date considering all its inherent risks and  uncertainties, as well as the time value of money. The unwinding  of the effect of discounting is recorded in the income statement  as an interest expense.  Contingent assets are disclosed in the notes if the inflow of  economic benefits is probable, but not virtually certain. When  the inflow of economic benefits becomes virtually certain, the  asset is no longer contingent and its recognition is appropriate.  A provision is recognized for present legal or constructive  obligations arising from past events, when it is probable that  it will result in an outflow of economic benefits and the amount  can be reliably estimated. If the outflow of economic benefits  is not probable, a contingent liability is disclosed, unless the  possibility of an outflow of economic benefits is remote. The financial statements are adjusted to reflect events that  occurred between the balance sheet date and the date when the  financial statements are authorized for issue, provided they give  evidence of conditions that existed at the balance sheet date. Events that are indicative of conditions that arose after  the balance sheet date are disclosed, but do not result in  an adjustment of the financial statements themselves.  NOTE 2.13 EVENTS AFTER THE BALANCE SHEET DATE SHARPENING OUR FOCUS 2010 2009 At January 1 12,023 6,303 Capital contributions and acquisitions 24 45 Divestments and capital repayments (191) (107) Dividend received (450) – Net income / (loss) for the fi nancial year 1,843 253 Revaluations 3,527 5,529 AT DECEMBER 31 16,776 12,023