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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe GRoUp aCCoUnTInG pRInCIples anD MeTHoDs Financial liabilities according to Ias 39, financial liabilities that do not represent liabilities from finance leases are assigned to one of the following categories: → “at fair value through profit or loss” (“held for trading”) → “other financial liabilities” The first-time recognition of financial liabilities and subsequent measurement of financial liabilities “held for trading” is effected based on the same stipulations as for financial assets. The category “other financial liabilities” comprises all financial liabilities that are not “held for trading”. They are carried at amortised cost based on the effective interest method as the fair value option is not applied within MeTRo GRoUp. Financial liabilities designated as the hedged item in a fair value hedge are carried as liabilities at their fair value. The fair values indicated for the financial liabilities have been determined on the basis of the interest rates prevailing on the closing date for the remaining terms and redemption structures. In principle, financial liabilities from finance leases are carried at the present value of future minimum lease payments. a financial liability is derecognised only when it has expired, that is, when the contractual obligations have been redeemed or annulled or have expired. Other liabilities Other liabilities are carried at their settlement amounts unless they represent derivative financial instruments or commitments to stock tender rights, which are recognised at fair value under Ias 39. Deferred income comprises transitory deferrals. Trade liabilities Trade liabilities are recognised at amortised cost. → p. 197 Contingent liabilities Contingent liabilities are, on the one hand, potential obligations arising from past events whose existence is confirmed only by the occurrence or non-occurrence of uncertain future events that are not entirely under the Company’s control. on the other hand, contingent liabilities represent current obligations arising from past events for which, however, an outflow of resources is not considered probable or whose size cannot be determined with sufficient certainty. according to Ias 37, such liabilities should not be recognised in the balance sheet but disclosed in the notes. Accounting for derivative financial instruments and hedge accounting Derivative financial instruments are exclusively used to reduce risks. They are used in accordance with the respective Group guideline. In accordance with Ias 39, all derivative financial instruments are recognised at fair value and shown under other receivables and assets or other liabilities. Derivative financial instruments are measured on the basis of interbank terms and conditions, possibly including the credit margin or stock exchange price applicable to MeTRo GRoUp. The median prices at the balance sheet date are applied. Where no stock exchange prices are used, the fair value is determined by means of acknowledged measurement methods. In the case of an effective hedge accounting transaction pursuant to Ias 39, fair value changes of derivatives designated as fair value hedges and the underlying transactions are reported as a profit or loss. In cash flow hedges, the effective portion of the fair value change of the derivative is carried in equity without being reported as a profit or loss. a transfer to the income statement is effected only when the underlying transaction is realised. The ineffective portion of the change in the value of the hedging instrument is immediately reported as a profit or loss.
METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe GRoUp aCCoUnTInG pRInCIples anD MeTHoDs Accounting for share-based payments The share bonuses granted under the share-based payments system are classified as “cash-settled share-based payments” pursuant to IFRs 2 (share-based payment). proportionate provisions measured at the fair value of the obligations entered into are formed for these payments. The proportionate formation of the provisions is prorated over the underlying blocking period and recognised in income as personnel expenses. The fair value is remeasured at each balance sheet date during the blocking period until exercise based on an option pricing model. provisions are adjusted accordingly in profit or loss. Where granted share-based payments is hedged through corresponding hedging transactions, the hedging transactions are measured at fair value and shown under other receivables and assets. The portion of the hedges’ value fluctuation that corresponds to the value of fluctuation of the share-based payments is recognised in personnel expenses. The surplus amount of value fluctuations is recognised in equity without being reported as a profit or loss. summary of selected measurement methods → p. 198 Position Measurement method Assets at cost (subsequent measurement: Goodwill impairment test) other intangible assets acquired other intangible assets at (amortised) cost Internally generated intangible at cost of development (direct costs assets and overheads) Tangible assets at (amortised) cost Investment properties at (amortised) cost Financial assets “ loans and receivables” at (amortised) cost “at fair value through profit or loss” (“held for trading”) at fair value through profit or loss at fair value without “Held for sale” being reported as a profit or loss lower of cost and net Inventories realisable value Trade receivables at (amortised) cost Cash and cash equivalents at nominal value lower of carrying amount and fair assets held for sale value less costs to sell Liabilities provisions pension provisions projected unit credit method at discounted settlement value other provisions (highest probability of occurrence) Financial liabilities “at fair value through profit or loss” (“held for trading”) at fair value through profit or loss “other financial liabilities” at (amortised) cost other liabilities at settlement value or fair value Trade liabilities at (amortised) cost
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METRO gROup : ANNuAL REpORT 2011
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METRO gROUP : ANNUAL REPORT 2011
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sTRATEgy 1 METRO gROUP : ANNUAL REP
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ASIA E F G H SALES EASTERN EUROPE (
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