146 / 266
146 2014 Registration Document
Consolidated Financial Statements Year ended December 31, 2014
5
Notes to the Consolidated statements
2.2
SEGMENT INFORMATION
IFRS 8 –
Operating Segments
requires the disclosure of information
about an entity’s operating segments extracted from the internal reporting
system and used by the entity’s chief operating decision-maker to make
decisions about resources to be allocated to the segment and assess
its performance. The Carrefour group’s operating segments consist of
the countries in which it conducts its business through consolidated
stores, as each country’s results are reviewed monthly by the Group’s
Chief Executive Officer who is the chief operating decision-maker within
the meaning of IFRS 8.
Countries located in the same region are considered as having similar
characteristics and have been combined to create four geographical
segments, as allowed by IFRS 8:
■
France;
■
Rest of Europe: Spain, Italy, Belgium, Poland and Romania;
■
Latin America: Brazil and Argentina;
■
Asia: China and Taiwan.
Effective January 1, 2012, the income and expenses of certain support
entities are allocated to the various countries proportionately to the
services provided to each, with any unallocated revenue and expenses
reported under “Global functions”. In prior periods, these entities were
allocated to the geographical segment corresponding to the country
where they were located.
2.3
BUSINESS COMBINATIONS
At the IFRS transition date, the Group elected elected to maintain the
accounting treatment for business combinations applied under previous
accounting standards, in line with the option available to first-time adopters
under IFRS 1.
Whenever the Group acquires control of an entity or group of entities,
the identifiable assets acquired and liabilities assumed are recognized
and measured at fair value. The difference between the consideration
transferred (
i.e.
the acquisition cost) and the fair value of the identifiable
assets acquired, net of the liabilities and contingent liabilities assumed, is
recognized as goodwill. Goodwill is recorded directly in the statement of
financial position of the acquired entity, in the entity’s functional currency.
Its recoverable amount is subsequently monitored at the level of the
cash-generating unit to which the entity belongs.
Since the adoption of IFRS 3 (revised) on January 1, 2010, the Group
applies the following principles:
■
transaction costs are recorded directly as an operating expense for
the period in which they are incurred;
■
for each business combination, the Group determines whether to
apply the full goodwill or partial goodwill method:
■
the full goodwill method consists of measuring non-controlling
interests in the acquiree at fair value and allocating to these
interests part of the goodwill recognized at the time of the business
combination,
■
under the partial goodwill method, non-controlling interests are
measured at their proportionate share of the acquiree’s identifiable
net assets and no goodwill is allocated to these interests;
■
any contingent consideration is measured at its acquisition-date
fair value. Any subsequent change in fair value during the 12-month
measurement period is recognized by adjusting goodwill only if it
results from additional information about facts and circumstances
that existed at the acquisition date. If this criterion is not met or the
change in fair value arises after the measurement period, it is recorded
in other comprehensive income;
■
for a business combination achieved in stages (step acquisition), when
control is acquired the previously held equity interest is remeasured
at fair value through profit. In the case of a reduction in the Group’s
equity interest resulting in a loss of control, the remaining interest is
also remeasured at fair value through profit;
■
in the case of a bargain purchase, the gain is recognized immediately
in profit;
■
any acquisition or disposal of equity interests that does not result in
control being acquired or lost is treated as a transaction between
owners and recognized directly in shareholders’ equity in accordance
with IAS 27R.
For entities or additional equity interests acquired during the year, the
Group’s share or increased share of the entity’s profit or loss for the
period from the transaction date is recognized in the consolidated income
statement. For entities sold or for which control was lost during the year,
the Group’s share of the entity’s profit or loss for the period up to the
transaction date is recognized in the consolidated income statement.