Corporate Magazine 2012 - Boehringer Ingelheim

usiness year 2012consolidated financial statementscles of association. These were not included in consolidation in accordance with section 296 paragraph 1sentence 1 HGB.The total number of affiliated companies was reduced by five as against the previous year:• Ten companies were sold• Five companies were foundedThe following subsidiaries were exempted from the reporting and disclosure obligations of section 264paragraph 3 HGB:• Boehringer Ingelheim GmbH, Ingelheim• Boehringer Ingelheim Europe GmbH, Ingelheim• Boehringer Ingelheim Vetmedica GmbH, Ingelheim• Boehringer Ingelheim Secura Versicherungsvermittlungs GmbH, Ingelheim• Boehringer Ingelheim Grundstücksgesellschaft mbH, Ingelheim• Boehringer Ingelheim Finanzierungs GmbH, Ingelheim• Boehringer Ingelheim R&D Beteiligungs GmbH, Ingelheim• Boehringer Ingelheim Venture Fund GmbH, IngelheimExempt from the duty to prepare and disclose annual financial statements and management reports in accordancewith HGB provisions for corporations under section 264b HGB are:• C. H. Boehringer Sohn AG & Co. KG, Ingelheim• C. H. Boehringer Sohn Grundstücksverwaltung GmbH & Co. KG, Ingelheim• Boehringer Ingelheim Pharma GmbH & Co. KG, Ingelheim• Boehringer Ingelheim Veterinary Research Center GmbH & Co. KG, Hanover1.3 Consolidation methodsFor inventories and fixed assets, receivables, liabilities and income and expense items, transactions betweenthe companies included in consolidation were eliminated as part of debt consolidation in accordance withsection 303 HGB, the elimination of intercompany profits in accordance with section 304 HGB and theconsolidation of income and expenses in accordance with section 305 HGB.The revaluation method of section 301 HGB was applied in acquisition accounting for the first-time consolidationof subsidiaries. First-time consolidation occurred on the date at which the company became asubsidiary.The carrying amount of the shares held by the parent company was offset against the corresponding equityof the subsidiary. Equity is carried at the amount of the fair value of the assets, liabilities, prepaid expensesand deferred income and special reserves included in the consolidated financial statements as at the timeof consolidation. Any remaining balance after offsetting was capitalized as goodwill.Notes to the consolidated financial statements47