Reebok 2012 Annual Report Download - page 218

8
adidas Group
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2012 Annual Report
Consolidated Financial Statements
196
2012
Notes
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04.8
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01 General
The consolidated financial statements of adidas AG as at December 31,
2012 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, 2012, 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, 2012:
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IAS 12 Amendment – Deferred Tax: Recovery of Underlying Assets
(effective date: January 1, 2012): This amendment had no impact on the
Group’s financial statements.
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IFRS 7 Amendment – Disclosures – Transfers of Financial Assets
(effective date: July 1, 2011): This amendment had no impact on the
Group’s financial statements.
New standards and interpretations and amendments to existing
standards and interpretations that will be effective for financial years
beginning after January 1, 2012, and which have not been applied in
preparing these consolidated financial statements are:
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IFRS 7 Amendment – Disclosures – Offsetting Financial Assets and
Financial Liabilities (effective date: January 1, 2013): This amendment
is not expected to have any impact on the Group’s financial statements.
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IFRS 10 Consolidated Financial Statements (effective date:
January 1, 2014): This new standard is not expected to have any material
impact on the Group’s financial statements.
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IFRS 11 Joint Arrangements (effective date: January 1, 2014): This
new standard is not expected to have any material impact on the Group’s
financial statements.
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IFRS 12 Disclosure of Interests in Other Entities (effective date:
January 1, 2014): This new standard is not expected to have any material
impact on the Group’s financial statements.
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IFRS 13 Fair Value Measurement (effective date: January 1, 2013):
This new standard is not expected to have any material impact on the
Group’s financial statements.
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IAS 1 Amendment – Presentation of Items of Other Comprehensive
Income (effective date: July 1, 2012): This amendment is not expected to
have any impact on the Group’s financial statements.
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IAS 19 Employee Benefits – Revised (2011) (effective date: January 1,
2013): This amendment is not expected to have any material impact on
the Group’s financial statements.
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IAS 27 Separate Financial Statements – Revised (2011) (effective
date: January 1, 2014): This amendment is not expected to have any
impact on the Group’s financial statements.
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IAS 28 Investments in Associates and Joint Ventures – Revised
(2011) (effective date: January 1, 2014): This amendment is not expected
to have any impact on the Group’s financial statements.
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IAS 32 Amendment – Offsetting Financial Assets and Financial
Liabilities (effective date: January 1, 2014): This amendment is not
expected to have any impact on the Group’s financial statements.
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IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine
(effective date: January 1, 2013): This interpretation will not have any
impact on the Group’s financial statements.
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Improvements to IFRSs (2011) (effective date: January 1, 2013):
These improvements are not expected to have any material impact on
the Group’s financial statements.
New standards and interpretations as well as amendments to existing
standards and interpretations are usually not applied by the Group
before the effective date.
The consolidated financial statements have in principle been
prepared on the historical cost basis with the exception of certain items
in the statement of financial position such as financial instruments
valued at fair value through profit or loss, available-for-sale financial
assets, derivative financial instruments, plan assets and receivables,
which are measured at fair value.
The consolidated financial statements are presented in euros (€)
and all values are rounded to the nearest million (€ in millions).