Porsche 2010 Annual Report Download - page 149

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147
Assets, liabilities and contingent liabilities are translated at the closing rate as of the report-
ing date, while equity is translated at historical rates with the exception of income and expenses
recognized directly in equity. The income statement is translated using average exchange rates.
Exchange rate differences resulting from the translation of financial statements are recognized as a
separate component directly in equity until the disposal of the subsidiary. Upon disposal the sepa-
rate item is reclassified to profit or loss.
The foreign currency rates applied for translating transactions to the euro are presented in the
following table.
1 Accounted for at equity
Balance sheet
Closing rate
Porsche SE VW group1 Porsche SE VW group
group and Porsche
Zwischenholding
GmbH group1
group and Porsche
Zwischenholding
GmbH group1
€1= 31/12/2010 31/12/2010 31/7/2010 30/6/2010
Argentina ARS N/A 5.3086 N/A 4.8171
Australia AUD 1.3157 1.3136 1.4409 1.4403
Brazil BRL 2.2212 2.2177 2.2919 2.2082
China CNY 8.8212 8.8220 N/A 8.3215
United Kingdom GBP 0.8623 0.8608 0.8332 0.8175
India INR N/A 59.7580 N/A 56.9930
Japan JPY 108.8600 108.6500 112.8300 108.7900
Canada CAD 1.3355 1.3322 1.3446 1.2890
Mexico MXN 16.5663 16.5475 16.4908 15.7363
Poland PLN N/A 3.9750 N/A 4.4170
Republic of Korea KRW 1,501.5100 1,499.0600 1,544.2950 1,499.5900
Russia RUB 40.9449 40.8200 39.4500 38.2820
Sweden SEK 8.9776 8.9655 9.4195 9.5259
South Africa ZAR 8.8753 8.8625 9.5276 9.3808
Czech Republic CZK 25.0958 25.0610 24.7805 25.6910
USA USD 1.3388 1.3362 1.3022 1.2271