palfinger at a glance
palfinger at a glance
palfinger at a glance
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noteS TO THE CONSolid<strong>at</strong>ed FINANCIAL St<strong>at</strong>ementS<br />
conSolid<strong>at</strong>ed FINANCIAL St<strong>at</strong>ementS FOR THE Year ENDED 31 DECEMBER 2011<br />
CONSolid<strong>at</strong>ion PRINCIPLES<br />
Scope OF CONSolid<strong>at</strong>ion<br />
PALFINGER AG prepares the consolid<strong>at</strong>ed financial st<strong>at</strong>ements for the PALFINGER Group. The consolid<strong>at</strong>ed<br />
financial st<strong>at</strong>ements comprise the financial st<strong>at</strong>ements of PALFINGER AG and the financial st<strong>at</strong>ements of the<br />
companies controlled by PALFINGER AG as <strong>at</strong> 31 December of each year. Control is defined as the power to<br />
govern the financial and oper<strong>at</strong>ing policies of an entity so as to obtain economic benefits from its activities.<br />
Associ<strong>at</strong>ed companies are included according to the equity method. An associ<strong>at</strong>ed company is a company on<br />
which PALFINGER AG may exercise significant influence by particip<strong>at</strong>ing in its financial and oper<strong>at</strong>ing policy decisions<br />
but over which it has no control or joint control. There is a rebuttable presumption th<strong>at</strong> the investor holds<br />
20 to 50 per cent of the voting power.<br />
As <strong>at</strong> 31 December 2011, the scope of consolid<strong>at</strong>ion, including PALFINGER AG as the parent company, comprised<br />
43 fully consolid<strong>at</strong>ed companies and four companies consolid<strong>at</strong>ed <strong>at</strong> equity, all of whose names are disclosed in<br />
the st<strong>at</strong>ement of investments.<br />
<strong>palfinger</strong> Annual Report 2011<br />
115
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