1 – Basis of presentation
|
|
Closing rates |
Average rates 1st Half |
||
|---|---|---|---|---|---|
1 € equals |
|
June 30, 2017 |
Dec. 31, 2016 |
2017 |
2016 |
Brazil (BRL) |
|
3.76 |
3.43 |
3.44 |
4.13 |
China (CNY) |
|
7.74 |
7.32 |
7.44 |
7.30 |
United Kingdom (GBP) |
|
0.88 |
0.86 |
0.86 |
0.78 |
Japan (JPY) |
|
127.75 |
123.40 |
121.72 |
124.41 |
Malaysia (MYR) |
|
4.90 |
4.73 |
4.75 |
4.57 |
Mexico (MXN) |
|
20.58 |
21.77 |
21.04 |
20.17 |
Norway (NOK) |
|
9.57 |
9.09 |
9.18 |
9.42 |
Russian Federation (RUB) |
|
67.54 |
64.30 |
62.78 |
78.30 |
Switzerland (CHF) |
|
1.09 |
1.07 |
1.08 |
1.10 |
South Korea (KRW) |
|
1,304.56 |
1,269.36 |
1,235.89 |
1,318.92 |
United States (USD) |
|
1.14 |
1.05 |
1.08 |
1.12 |
The Consolidated Financial Statements of the BASF Group for the year ending December 31, 2016, 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, 2017, have been prepared – in line with the rules of International Accounting Standard 34 – in abbreviated form and largely continuing the same accounting policies. The application of the following revisions to reporting standards requires endorsement by the European Union, which is expected no earlier than the fourth quarter of 2017:
- Amendments to IAS 7, “Statement of Cash Flows”
- Amendments to IAS 12, “Income Taxes”
- Improvements Cycle 2014–2016
The Half-Year Financial Statements and Half-Year Management’s Report have not been audited nor undergone an auditor’s review.