Reebok 2015 Annual Report Download - page 194

CONSOLIDATED FINANCIAL STATEMENTS
Notes
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The consolidated financial statements of adidas AG as at December 31, 2015 comprise adidas AG and its
subsidiaries and are prepared in compliance with International Financial Reporting Standards (IFRS), as to
be applied in the European Union (EU) as at December 31, 2015, 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, 2015:
•IAS 19 Amendment – Defined Benefit Plans: Employee Contributions (EU effective date: July 1, 2014):
This amendment had no material impact on the Group’s financial statements.
•Improvements to IFRSs (2010 – 2012) (EU effective date: July 1, 2014): These improvements required
additional disclosures in the Group’s financial statements.
•
Improvements to IFRSs (2011 – 2013) (EU effective date: July 1, 2014): These improvements had no
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.
New standards and interpretations and amendments to existing standards and interpretations that will be
effective for financial years beginning after January 1, 2015, and which have not been applied in preparing
these consolidated financial statements are:
•IAS 1 Amendment – Disclosure Initiative (EU effective date: January 1, 2016): This amendment is not
expected to have any material impact on the Group’s financial statements.
•
Improvements to IFRSs (2012 – 2014) (EU effective date: January 1, 2016): These improvements are not
expected to have any material impact on the Group’s financial statements.
•
IFRS 10 and IAS 28 Amendment – Sale or Contribution of Assets between an Investor and its Associate
or Joint Venture (EU effective date: indefinitely postponed): This amendment is not expected to have
any impact on the Group’s financial statements.
•IAS 27 Amendment – Equity Method in Separate Financial Statements (EU effective date: January 1,
2016): This amendment is not expected to have any impact on the Group’s financial statements.
•IAS 16 and IAS 41 Amendment – Agriculture: Bearer Plants (EU effective date: January 1, 2016): This
amendment is not expected to have any impact on the Group’s financial statements.
•
IAS 16 and IAS 38 Amendment – Clarification of Acceptable Methods of Depreciation and Amortisation
(EU effective date: January 1, 2016): This amendment is not expected to have any impact on the Group’s
financial statements.
•
IFRS 11 Amendment – Accounting for Acquisitions of Interests in Joint Operations (EU effective
date: January 1, 2016): This amendment is not expected to have any impact on the Group’s financial
statements.
The following new standards and interpretations as well as amendments to existing standards and
interpretations were issued by the International Accounting Standards Board (IASB) and are expected to
be of relevance for the company. These are not yet effective in the EU and hence have not been applied in
preparing these consolidated financial statements.
•
IFRS 9 Financial Instruments (IASB effective date: January 1, 2018): The respective analysis of any
expected impact on the Group’s financial statements is in progress.
•IFRS 15 Revenue from contracts with customers (IASB effective date: January 1, 2018): The respective
analysis of any expected impact on the Group’s financial statements is in progress.
•IFRS 16 Leases (IASB effective date: January 1, 2019): The respective analysis of any expected impact
on the Group’s financial statements is in progress.
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, unless otherwise stated, all
values are presented in millions of euros (€ in millions). Due to rounding principles, numbers presented
may not sum up exactly to totals provided.
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GENERAL