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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : seGMenT RepoRTInG Real Estate Others Consolidation METRO gROUP 2010 2011 2010 2011 2010 2011 2010 2011 0 0 286 263 0 0 67,258 66,702 0 0 6,197 6,362 –6,218 –6,384 0 0 0 0 6,483 6,625 –6,218 –6,384 67,258 66,702 128 39 –159 –43 –21 –32 4,594 4,445 1,101 1,008 –207 –97 –28 –31 3,591 3,429 421 399 116 124 –8 –4 1,427 1,350 38 30 0 4 7 0 47 34 718 639 –323 –217 –13 –27 2,211 2,113 490 448 72 124 0 0 1,683 2,095 8,591 8,695 2,121 1,787 –1,513 –1,090 28,064 28,632 (8,496) (8,286) (569) (492) (–148) (–158) (17,558) (17,697) 566 461 2,484 2,057 –1,653 –1,268 19,031 18,559 0 0 0 0 0 0 12,771 12,954 0 0 0 0 0 0 2,131 2,187 international Consolidation METRO gROUP 2010 2011 2010 2011 2010 2011 41,128 40,837 0 0 67,258 66,702 640 755 –666 –857 0 0 41,768 41,592 –666 –857 67,258 66,702 2,982 2,921 –2 –5 4,594 4,445 2,535 2,398 –1 10 3,591 3,429 762 698 0 0 1,427 1,350 40 30 0 0 47 34 1,813 1,730 –1 10 2,211 2,113 1,098 1,049 0 0 1,683 2,095 17,004 17,203 –745 –447 28,064 28,632 (10,828) (10,748) (–6) (–4) (17,558) (17,697) 11,047 10,910 –470 –394 19,031 18,559 6,973 7,162 0 0 12,771 12,954 1,189 1,250 0 0 2,131 2,187 → p. 185
METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe GRoUp aCCoUnTInG pRInCIples anD MeTHoDs Notes to the group accounting principles and methods Accounting principles MeTRo aG, the parent company of MeTRo GRoUp, has its head office in schlüterstrasse 1 in Düsseldorf, Germany. These consolidated financial statements as of 31 December 2011 were prepared in accordance with the International Financial Reporting standards (IFRs) of the International accounting standards Board (IasB), london. They comply with all mandatory applicable accounting standards and interpretations adopted by the european Union as of this date. Compliance with these standards and interpretations ensures a true and fair view of the asset, liabilities, financial position and profit or loss of MeTRo aG. The consolidated financial statements in their present form comply with the stipulations of § 315a of the German Commercial Code (HGB). Together with Regulation (eC) no. 1606/2002 of the european parliament and Council of 19 July 2002 concerning the application of international accounting standards, they form the legal basis for group accounting according to international standards in Germany. These financial statements are based on the historical cost principle except for financial instruments recognised at fair value and assets and liabilities that are recognised at fair value as hedged items within a fair value hedge. Furthermore, non-current assets held for sale and disposal groups are recognised at fair value minus disposal costs as long as this value is lower than the carrying amount. liabilities from cash-settled share-based payments are also recognised at fair value. In addition, financial liabilities from stock tender rights granted to non-controlling shareholders are recognised at fair value. The income statement has been prepared using the cost of sales method. Certain items in the income statement and the balance sheet have been combined to increase transparency and informative value. These items are listed separately and described in detail in the notes. The consolidated financial statements have been prepared in euros. all amounts are stated in million euros (€ million) unless otherwise indicated. amounts below €0.5 million are rounded and reported as 0. → p. 186 The following accounting methods were used in the preparation of the consolidated financial statements. Application of new accounting methods Revised and new accounting methods The revised and supplemented accounting standards and interpretations as well as those newly issued by the IasB, the application of which was mandatory for MeTRo aG in the financial year 2011, were applied for the first time to the present consolidated financial statements: IAS 24 (Related Party Disclosures) The amendment to Ias 24, which became applicable on 1 January 2011, provides for relief from the disclosure requirements for entities related to governments or public sector institutions. In addition, it provides for a minor change in the definition of related parties in that associates of related parties now also qualify as related parties. The amendment to Ias 24 only had a minor effect on MeTRo aG’s Group accounts. IAS 32 (Financial Instruments: Presentation) The amendment to Ias 32 “Classification of Rights Issues” modifies the balance sheet classification of rights issues, options and warrants on a fixed number of equity instruments in a currency other than the entity’s functional currency. For financial years starting on or after 1 February 2010, the amendment requires rights issues where the holder has the right to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency to be classified as an equity instrument if the entity offers the financial instrument pro rata to all of its existing owners of the same class of its equity instruments. These amendments, which were applicable at MeTRo aG from 1 January 2011, had no effect on these consolidated financial statements. IFRIC 14 (IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and Their Interaction) The amendment to the interpretation IFRIC 14 “prepayments of a Minimum Funding Requirement” clarifies the balance sheet classification of early payments of contributions to pension plans with minimum funding requirements for financial years beginning on or after 1 January 2011. It states that the economic benefit of such an early payment, which results from reductions in future contributions to the plan with minimum funding requirements, must be capitalised as an asset.
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METRO gROUP in figures 1 € millio
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