Read the Registration Document - Guerbet

Identifiable assets and liabilitiesOn consolidation of an exclusively controlled subsidiary, identifiable assets and liabilities and contingentliabilities of the acquiree are recognised at fair value in accordance with IFRS. Goodwill arising fromconsolidation is recognised under assets and liabilities, including non-controlling interests in their preacquisitioncarrying amounts and not only their percentage of shares acquired.GoodwillThe excess of the cost over the acquirer's interest in the fair value of identifiable assets and liabilitiesacquired is described as goodwill and when positive recognised as an asset. If negative it is immediatelyrecognised under income.e) Translation methods1 - Recognition of transactions in currencies of consolidated subsidiaries:In accordance with IAS 21, transactions denominated in foreign currencies are translated by the subsidiaryin its operating currency on the transaction date.Monetary items of the balance sheet are revalued on the basis of the exchange rate applicable on thebalance sheet date. Resulting translation differences are recorded under "other financial income andexpenses" taking into account forward exchange contracts and currency options.The results of transactions in currency options are recorded at the options’ maturity where they covercommercial transactions after the closing date. Premium paid is recorded in the balance sheet under assetsuntil the maturity of the option.2 - Translation of accounts of subsidiaries outside the euro area:Shareholders' equity is translated on the basis of historical exchange rates, other balance sheet items atofficial year-end exchange rates and income statement items at average exchange rates for the year.Translation gains and losses resulting from the application of these rates are recorded under "Translationadjustments" under shareholders' equity.f) Intangible assetsIntangible assets are recorded at cost.Trademarks recorded in the balance sheet under assets concern exclusively individual trademarks ofsignificant long-term value supported by promotional budgets.Intangible assets are amortised over their useful life estimated by the Group. This period is calculated caseby-caseaccording to the nature and characteristics of the items included in this heading.As a general rule:- Trademarks are not amortised;- Patents acquired are amortised on a straight-line basis for periods not exceeding their duration;- Software is amortised on a straight-line basis over periods of three to ten three years.76