Based on our shareholder analysis² (Dec. 31, 2015), the number of shareholders in the USA increased further during the year. In December 2014, the level of US-held shares was 35 percent. A year later, it was 47 percent. Thus, our strongest increase in shareholders was in the USA. Share ownership in Germany rose to 22 percent (2014: 18 percent). Share ownership in Canada declined to 8 percent (2014: 11 percent), in the UK to 7 percent (2014: 13 percent), and in Switzerland to 4 percent (2014: 5 percent). Other European share ownership also declined from 19 percent to 11 percent.