Chrysler 2014 Annual Report Download - page 158

156 2014 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
The principal exchange rates used to translate other currencies into Euros were as follows:
2014 2013 2012
Average At December 31, Average At December 31, Average At December 31,
U.S. Dollar 1.329 1.214 1.328 1.379 1.285 1.319
Brazilian Real 3.121 3.221 2.867 3.258 2.508 2.704
Chinese Renminbi 8.187 7.536 8.164 8.349 8.106 8.221
Serbian Dinar 117.247 120.958 113.096 114.642 113.120 113.718
Polish Zloty 4.184 4.273 4.197 4.154 4.185 4.074
Argentine Peso 10.782 10.382 7.263 8.988 5.836 6.478
Pound Sterling 0.806 0.779 0.849 0.834 0.811 0.816
Swiss Franc 1.215 1.202 1.231 1.228 1.205 1.207
Business combinations
Business combinations are accounted for by applying the acquisition method of accounting in accordance with IFRS
3 - Business Combinations.
Under this method:
The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of
the acquisition-date fair values of the assets acquired and liabilities assumed by the Group and the equity interests
issued by the Group in exchange for control of the acquiree. Acquisition-related costs are recognized in the
Consolidated income statement as incurred.
The identifiable assets acquired and the liabilities assumed are recognized at their acquisition date fair values,
except for deferred tax assets and liabilities, assets and liabilities relating to employee benefit arrangements,
liabilities or equity instruments relating to share-based payment arrangements of the acquiree or share-based
payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree
and assets (or disposal groups) that are classified as held for sale, which are measured in accordance with the
relevant IFRS standard.
Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-
controlling interest in the acquiree and the acquisition-date fair value of any previously held equity interest in the
acquiree over the acquisition-date values of the identifiable net assets acquired. If the value of the identifiable net
assets acquired exceeds the aggregate of the consideration transferred, any non-controlling interest recognized
and the fair value of any previously held interest in the acquiree, the excess is recognized as a gain in the
Consolidated income statement.
Non-controlling interest is initially measured either at fair value or at the non-controlling interest’s proportionate
share of the acquiree’s identifiable net assets. The selection of the measurement method is made on a transaction-
by-transaction basis.
Any contingent consideration arrangement in the business combination is initially measured at its acquisition-date
fair value and included as part of the consideration transferred in the business combination in order to measure
goodwill. Contingent consideration that is classified within Equity is not remeasured and its subsequent settlement
is accounted for within Equity. Contingent consideration that is classified within Liabilities is remeasured at fair value
at each reporting date with changes in fair value recorded in the Consolidated income statement.
During the measurement period, which may not exceed one year from the acquisition date, any adjustments to the
value of assets or liabilities recognized at the acquisition date arising from additional information obtained about
facts and circumstances that existed at the acquisition date are recognized retrospectively with corresponding
adjustments to goodwill.