1 – Basis of presentation
|
|
Closing rates |
Average rates 1st Half |
||
|---|---|---|---|---|---|
1 € equals |
|
June 30, 2016 |
Dec. 31, 2015 |
2016 |
2015 |
Brazil (BRL) |
|
3.59 |
4.31 |
4.13 |
3.31 |
China (CNY) |
|
7.38 |
7.06 |
7.30 |
6.94 |
Great Britain (GBP) |
|
0.83 |
0.73 |
0.78 |
0.73 |
Japan (JPY) |
|
114.05 |
131.07 |
124.41 |
134.13 |
Malaysia (MYR) |
|
4.43 |
4.70 |
4.57 |
4.06 |
Mexico (MXN) |
|
20.63 |
18.91 |
20.17 |
16.88 |
Russian Federation (RUB) |
|
71.52 |
80.67 |
78.30 |
64.60 |
Switzerland (CHF) |
|
1.09 |
1.08 |
1.10 |
1.06 |
South Korea (KRW) |
|
1,278.48 |
1,280.78 |
1,318.92 |
1,226.62 |
United States (USD) |
|
1.11 |
1.09 |
1.12 |
1.12 |
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 Half-Year Financial Statements as of June 30, 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 has had no material effect on net assets, financial position and results of operations in the current reporting year:
- Amendments to IAS 1 (Disclosure Initiative)
- Amendments to IAS 16 and 38 (Clarification of Acceptable Methods of Depreciation and Amortization)
- Amendments to IFRS 11 (Accounting for Acquisitions of Interests in Joint Operations)
- IFRS Annual Improvements: Cycle 2012–2014
Due to the recent revision of IAS 1, the contributions of companies accounted for using the equity method are now shown separately in the Statement of Comprehensive Income. In addition, minority interests have been distributed among the subitems in a separate column.
The Half-Year Financial Statements and Half-Year Management’s Report have been neither audited nor have undergone an auditor’s review.