Reebok 2010 Annual Report Download - page 192

188 Consolidated Financial Statements Notes
Notes Notes
adidas AG (hereafter also referred to as “the company”) is a listed German stock corporation and ultimate parent of the
adidas Group. adidas AG and its subsidiaries (collectively the “adidas Group” or the “Group”) design, develop, produce and
market – increasingly through own-retail activities – a broad range of athletic and sports lifestyle products. The adidas Group’s
headquarters are located at Adi-Dassler-Str. 1, 91074 Herzogenaurach, Germany. The operating activities of the adidas Group
are divided into six operating segments: Wholesale, Retail, TaylorMade-adidas Golf, Rockport, Reebok-CCM Hockey and Other
Centrally Managed Brands.
The Wholesale segment comprises all business activities relating to the distribution of adidas and Reebok products to retail
customers.
The Retail segment comprises all business activities relating to the sale of adidas and Reebok products directly to end
consumers through own retail.
adidas and Reebok branded products include footwear, apparel and hardware, such as bags and balls.
TaylorMade-adidas Golf includes the three brands TaylorMade, adidas Golf and Ashworth. TaylorMade designs, develops
and assembles or manufactures high-performance golf clubs, balls and accessories. adidas Golf branded products include
footwear, apparel and accessories. Ashworth designs and distributes men’s and women’s lifestyle sportswear.
Rockport predominantly designs and markets leather footwear for men and women.
Reebok-CCM Hockey designs, produces and markets hockey equipment such as sticks and skates as well as apparel mainly
under the brand names Reebok Hockey and CCM Hockey.
The Other Centrally Managed Brands segment primarily includes the business activities of the Y-3 label, under which
premium footwear and apparel are designed and distributed.
General 01
The consolidated financial statements of adidas AG as at December 31, 2010 comprise
adidas AG and its subsidiaries and are prepared in compliance with International Financial
Reporting Standards (IFRS), as adopted by the European Union (EU) as at December 31, 2010,
and the additional requirements pursuant to § 315a section 1 German Commercial Code
(Handelsgesetzbuch – HGB).
The following new standards and interpretations and amendments to existing standards and
interpretations are applicable for the first time for financial years beginning on January 1, 2010:
– IFRS 2 Amendment – Group Cash-settled Share-based Payment Transactions (effective date:
January 1, 2010): This amendment had no impact on the Group’s financial statements.
– IFRS 3 Business Combinations – Revised (effective date: July 1, 2009): This amendment had no
impact on the Group’s financial statements.
– IAS 27 Amendment – Consolidated and Separate Financial Statements (effective date: July 1,
2009): This amendment had no material impact on the Group’s financial statements.
– IAS 39 Amendment – Financial Instruments: Recognition and Measurement – Eligible hedged
items (effective date: July 1, 2009): This amendment had no material impact on the Group’s
financial statements.
– IFRIC 12 Service Concession Arrangements (effective date: March 29, 2009): This interpretation
had no impact on the Group’s financial statements.
– IFRIC 15 Agreements for the Construction of Real Estate (effective date: January 1, 2010): This
interpretation had no impact on the Group’s financial statements.