Financials - Deutsche EuroShop

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ConSoLIDAteD FInAnCIAL StAteMentS other disclosures other disClosures 29. FINaNCIal INSTRuMENTS aND RISK MaNaGEMENT Carrying amounts, valuations and fair values according to measurement category in € thousand Financial assets * Measurement category pursuant to IaS 39 Carrying amount 31 Dec 2011 amortised cost Balance sheet amount in line with IaS 39 Costs Fair value recognised in equity Non-current financial assets AfS 27,815 15,381 12,434 Trade receivables LaR 5,606 5,606 Other assets** LAR 1,783 1,153 630 Cash and cash equivalents LaR 64,408 64,408 Financial liabilities * Bank loans and overdrafts FLAC 1,472,149 1,472,149 Right to redeem of limited partners FLAC 280,078 280,078 Trade payables FLAC 2,835 2,835 Other liabilities FLAC 45,999 7,924 38,075 Aggregated according to measurement category pursuant to IAS 39: Loans and receivables (LaR) 71,797 71,167 630 Available for sale (AfS) Financial liabilities measured at amortised cost 27,815 0 15,381 12,434 (FLAC) 1,801,061 1,762,986 38,075 * Corresponds to level 2 of the IFRS 7 fair value hierarchy ** The previous year’s figure has been restated. Investments measured using the equity method are reported at fair value. Any write-ups in the year under review are recognised in net profit or loss for the period. Trade receivables, other assets and cash and cash equivalents, with the exception of interest rate swaps - which are recognised at present value – have predominantly short residual terms. The carrying amounts thus correspond to the fair value. The change in the present value of the longterm interest rate swap recognised was € 162 thousand (previous year: € 161 thousand). Bank loans and overdrafts have long-term durations and are recognised at amortised cost. The fair value for Group loans is given in the notes under item 11 “Bank loans and overdrafts”. In total, interest expense of € 65,761 thousand (previous year: € 54,075 thousand) is included in net finance costs. Trade payables and other liabilities, with the exception of interest rate swaps – which are recognised at present value – usually have short residual terms. The carrying amounts thus correspond to the fair value. 56 Des Annual Report 2011
Fair value recognised in income fair value 31 dec 2011 When measuring interest rate swaps, the interest and market price parameters applicable on the reporting date are applied. Interest from financial instruments is reported in net finance costs. The profit/loss share of third-party shareholders of € 15,730 thousand (previous year: € 7,948 thousand) is also included in net finance costs. Impairment charges on receivables are recognised in property operating costs. RISK MaNaGEMENT Carrying amount 31 Dec 2010 Balance sheet amount in line with IaS 39 amortised cost Costs Fair value recognised in equity ConSoLIDAteD FInAnCIAL StAteMentS other disclosures Fair value recognised in income Fair value 31 Dec 2010 27,815 23,885 0 15,381 8,505 23,886 5,606 3,481 3,481 3,481 1,783 1,493 701 792 1,493 64,408 65,784 65,784 65,784 1,539,651 1,288,156 1,288,156 1,324,096 280,078 277,780 277,780 277,780 2,835 6,145 6,145 6,145 45,999 27,641 6,473 21,168 27,641 71,797 70,758 69,966 792 70,758 27,815 23,886 15,381 8,505 23,886 1,868,563 1,599,722 1,578,554 21,168 1,635,662 In risk management, the emphasis is on ensuring compliance with the strategy and, building on this, on identifying and assessing risks and opportunities, as well as on the fundamental decision to manage these risks. Risk management ensures that risks are identified at an early stage and can then be evaluated, communicated promptly and mitigated. Risk analysis involves the identification and analysis of factors that may jeopardise the achievement of goals. Des Annual Report 2011 57
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AnnuAl RepoRt 11 FinAnciAls €190
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Business and Economic Conditions 5
Page 5 and 6: usiness and eConomiC Conditions OpE
Page 7 and 8: Ancillary benefits include the prov
Page 9 and 10: Based on calculations from Jones La
Page 11 and 12: Revenue € thousand 2011 2010 Chan
Page 13 and 14: funds from operations (ffo) up by o
Page 15 and 16: liquidity analysis: Cash flow signi
Page 17 and 18: 0 5 10 15 20 25 30 Net asset value
Page 19 and 20: FINaNCIal STaTEMENT pREpaRaTION pRO
Page 21 and 22: Currency risk Deutsche EuroShop AG
Page 23 and 24: switch to equity method accounting
Page 25 and 26: Consolidated finanCial statements 2
Page 27 and 28: EquITY aND lIaBIlITIES in € thous
Page 29 and 30: Consolidated statement of Comprehen
Page 31 and 32: statement of Changes in eQuity in
Page 33 and 34: The consolidated financial statemen
Page 35 and 36: CurrenCy translation The Group curr
Page 37 and 38: FuNDS FROM OpERaTIONS (FFO) in €
Page 39 and 40: On the basis of the expert appraisa
Page 41 and 42: 8. OThER lIaBIlITIES Other liabilit
Page 43 and 44: 3. INvESTMENT pROpERTIES Investment
Page 45 and 46: 8. OThER CuRRENT aSSETS in € thou
Page 47 and 48: 2011 in € thousand Before taxes T
Page 49 and 50: 16. OThER CuRRENT lIaBIlITIES in
Page 51 and 52: 21. OThER OpERaTING INCOME in € t
Page 53 and 54: Tax RECONCIlIaTION Income taxes in
Page 55: segment reporting As a holding comp
Page 59 and 60: Capital management The Group‘s ca
Page 61 and 62: other disClosures An average of fiv
Page 63 and 64: elated parties for the purposes of
Page 65 and 66: anteilsbesitZ Company name and domi
Page 67 and 68: esponsibility statement by the exeC
Page 69 and 70: Claus-Matthias Böge Born 13 Februa
Page 71 and 72: Corporate Governance Code in accord
Page 73 and 74: At the third meeting on 22 Septembe
Page 75 and 76: Dr jörn Kreke Dr jörn Kreke alexa
Page 77 and 78: Food Court Catering area of a shopp
Page 79 and 80: multi-year- overview in € million
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Financials - Deutsche EuroShop

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