Values
Values
Values
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Company | Group Management Group Financial | Corporate Governance | Report of the | Boards/Mandates | Additional Information<br />
Report Statements Supervisory<br />
Board<br />
Income Statement<br />
Statement of Comprehensive Income<br />
Balance Sheet<br />
Cash Flow Statement<br />
Statement of Changes in Equity<br />
Notes<br />
Proportionate Consolidation<br />
Th e 43 (previous year: 51) proportionately consolidated joint<br />
ventures had the following eff ect on Bertelsmann Group assets,<br />
liabilities, income and expenses:<br />
Effects of Proportionate Consolidation<br />
in € millions 12/31/2009 12/312008<br />
Non-current assets 44 52<br />
Current assets 135 146<br />
Non-current liabilities 6 10<br />
Current liabilities 86 94<br />
2009 2008<br />
Income 299 1,157<br />
Expenses 265 1,174<br />
Currency Translation<br />
In the Bertelsmann AG consolidated fi nancial statements, the<br />
fi nancial statements of subsidiaries, joint ventures and associated<br />
companies from countries outside the euro zone are<br />
translated into euros using the functional currency concept<br />
set out in IAS 21. Assets and liabilities are translated into the<br />
reporting currency at the average conversion rate of the last day<br />
of the fi scal year, while income statement items are translated<br />
at the average rate for the year. Currency translation diff erences<br />
Th e following euro exchange rates were used to translate the<br />
currencies of those countries which are most signifi cant to the<br />
Bertelsmann Group:<br />
Euro Exchange Rates for Major Foreign Currencies<br />
Average rate Closing rate<br />
Foreign currency unit per €1 2009 2008 12/31/2009 12/31/2008<br />
U.S. Dollar USD 1.3960 1.4726 1.4406 1.3917<br />
Canadian Dollar CAD 1.5909 1.5563 1.5128 1.6998<br />
British Pound GBP 0.8948 0.7972 0.8881 0.9525<br />
Japanese Yen JPY 130.28 152.56 133.16 126.14<br />
Swiss Franc CHF 1.5059 1.5845 1.4836 1.4850<br />
Bertelsmann Annual Report 2009<br />
are charged or credited directly to shareholders’ equity. Such<br />
diff erences arise from translating items in the balance sheet<br />
at diff erent rates compared with the previous year and from<br />
using diff erent rates (i. e., the average rate for the year and the<br />
rate as of the balance sheet date) to translate the consolidated<br />
earnings. When subsidiaries are deconsolidated, any related<br />
cumulative translation diff erences are recycled to income.<br />
91
Change language