1 – Basis of presentation
|
|
|
Closing rates |
Average rates 1st Quarter | ||
|---|---|---|---|---|---|
|
1 € equals |
|
Mar. 31, 2016 |
Dec. 31, 2015 |
2016 |
2015 |
|
Brazil (BRL) |
|
4.12 |
4.31 |
4.30 |
3.22 |
|
China (CNY) |
|
7.35 |
7.06 |
7.21 |
7.02 |
|
Great Britain (GBP) |
|
0.79 |
0.73 |
0.77 |
0.74 |
|
Japan (JPY) |
|
127.90 |
131.07 |
126.95 |
134.12 |
|
Malaysia (MYR) |
|
4.41 |
4.70 |
4.62 |
4.08 |
|
Mexico (MXN) |
|
19.59 |
18.91 |
19.89 |
16.83 |
|
Russian Federation (RUB) |
|
76.31 |
80.67 |
82.30 |
70.96 |
|
Switzerland (CHF) |
|
1.09 |
1.08 |
1.10 |
1.07 |
|
South Korea (KRW) |
|
1,294.88 |
1,280.78 |
1,323.65 |
1,240.16 |
|
United States (USD) |
|
1.14 |
1.09 |
1.10 |
1.13 |
The Consolidated Financial Statements of the BASF Group for the year ending December 31, 2015, were prepared in accordance with the International Financial Reporting Standards (IFRS) valid as of the balance sheet date. The Interim Financial Statements as of March 31, 2016, have been prepared – in line with the rules of International Accounting Standard 34 – in abbreviated form and largely continuing the same accounting policies. The first-time application of the following revised accounting and reporting standards had no material effect on net assets, financial position and results of operations:
- Amendments to IAS 1 (Disclosure Initiative)
- Amendments to IAS 16 and 38 (Clarification of Acceptable Methods of Depreciation and Amortization)
- Amendments to IAS 19 (Employee Contributions to Defined Benefit Plans)
- Amendments to IFRS 11 (Accounting for Acquisitions of Interests in Joint Operations)
- IFRS Annual Improvements: Cycle 2012–2014
The Interim Financial Statements and Interim Management’s Report have been neither audited nor have undergone an auditor’s review.