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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Changes in ownership interest not resulting in a
Intra-group loans to certain foreign operations are treated as part of
change of control
the net investment in that operation if settlement of the loan is neither
planned nor likely to occur. The gain or loss arising from translation of
Any change in the Group's ownership interest in a subsidiary after the
the loan at each successive period-end is recorded directly in "Other
business combination that does not result in control being acquired or
comprehensive income" in accordance with IAS
21 –
The Effects of
lost is qualified as a transaction with owners in their capacity as owners
Changes in Foreign Exchange Rates
.
and recorded directly in equity in accordance with IFRS
10 –
Consolidated Financial Statements
. The corresponding cash outflow or
Non-current assets and disposal groups held for sale
inflow is reported in the consolidated statement of cash flows under
and discontinued operations
"Cash flows from financing activities".
If the carrying amount of a non-current asset (or disposal group) will be
Translation of the financial statements of foreign
recovered principally through a sale transaction rather than through
operations
continuing use, it is presented separately in the consolidated
statement of financial position under "Assets held for sale" in
The Consolidated Financial Statements are presented in euros.
accordance with IFRS
5 –
Non-current Assets Held for Sale and
An entity's functional currency is the currency of the primary economic
Discontinued Operations
. Liabilities related to non-current assets held
environment in which the entity operates. The functional currency of
for sale are also reported on a separate line of the consolidated
Group entities is the currency of their home country.
statement of financial position (under "Liabilities related to assets held
The financial statements of entities whose functional currency is not
for sale"). Following their classification as held for sale, the assets
the euro and is not the currency of a hyperinflationary economy are concerned are measured at the lower of their carrying amount and fair
translated into euros as follows:
value less costs to sell and they cease to be depreciated or amortized.
assets and liabilities are translated at the period-end closing rate;
●
A discontinued operation is a component of an entity that has been
either disposed of or classified as held for sale, and:
income and expenses are translated at the weighted average
●
exchange rate for the period;
represents a separate major line of business or geographical area of
●
operations; and
all resulting exchange differences are recognized in "Other
●
comprehensive income" and are taken into account in the
is part of a single coordinated plan to dispose of a separate major
●
calculation of any gain or loss realized on the subsequent disposal of
line of business or geographical area of operations; or
the foreign operation;
is a subsidiary acquired exclusively with a view to resale.
●
items in the statement of cash flows are translated at the average
●
It is classified as a discontinued operation at the time of sale or earlier
rate for the period unless the rate on the transaction date is
if its assets and liabilities meet the criteria for classification as "held for
materially different.
sale". When a component of an entity is classified as a discontinued
No Group companies operated in a hyperinflationary economy in either
operation, comparative income statement and cash flow information
2015 or 2014.
are restated as if the entity had met the criteria for classification as a
discontinued operation on the first day of the comparative period.
Translation of foreign currency transactions
In addition, all the assets and liabilities of the discontinued operation
Transactions by Group entities in a currency other than their functional
are presented on separate lines on each side of the statement of
currency are initially translated at the exchange rate on the transaction
financial position, for the amounts at which they would be reported at
date.
the time of sale after eliminating intra-group items.
At each period-end, monetary assets and liabilities denominated in
foreign currency are translated at the period-end closing rate and the
resulting exchange gain or loss is recorded in the income statement.
Main changes in scope of consolidation
3.2
Changes in 2015
3.2.1
Changes in 2014
3.2.2
No material acquisitions or divestments were carried out in 2015.
Acquisition of Dia’s operations in France
On June
20, 2014, the Carrefour group announced that, following
The acquisitions of Rue du Commerce and Billa Romania described in
exclusive negotiations with Dia, it had agreed to acquire Dia France
Note
2 "Significant events" were not completed until after the
based on an enterprise value of 600
million euros. The deal was
year-end. Consequently, they were not included in the scope of
approved by France's anti-trust authorities in November
2014 and the
consolidation at December 31, 2015.
acquisition was completed on December
1, 2014, allowing the Group to
pursue its multi-format expansion in its domestic market. The anti-trust
approval covered the acquisition of over 800
points of sale, in exchange
for an undertaking by Carrefour to sell around fifty others that had been
reclassified as held for sale at December
31, 2014 in accordance with
IFRS 5 –
Non-current Assets Held for Sale and Discontinued Operations
.
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2015 REGISTRATION DOCUMENT