Carrefour - 2017 Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 Notes to the Consolidated Financial Statements 2017 REGISTRATION DOCUMENT | CARREFOUR 5. 222 Basis of preparation of the consolidated financial statements Note 1 The Consolidated Financial Statements for the year ended December 31, 2017 were approved for publication by the Board of Directors on February 28, 2018. They will be submitted to shareholders for final approval at the Annual General Meeting. December 31, 2017 comprise the financial statements of the Company and its subsidiaries (together the “Group”) and the Group’s share of the profits and losses and net assets of associates and joint ventures accounted for by the equity method. The presentation currency of the Consolidated Financial Statements is Carrefour (the “Company”) is domiciled in France. The the euro, which is the Company’s functional currency. Consolidated Financial Statements for the year ended Statement of compliance 1.1 In accordance with European Regulation (EC) 1606/2002 dated July 19, 2002, the 2017 Consolidated Financial Statements have been prepared in compliance with the international accounting standards adopted for use in the European Union as of December 31, 2017 and applicable at that date, with 2016 comparative information prepared using the same standards. International accounting standards comprise International Financial Reporting Standards (IFRSs), International Accounting Standards (IASs), IFRS Interpretations Committee (IFRIC) interpretations and Standard Interpretations Committee (SIC) interpretations. All of the standards and interpretations endorsed by the European Union are published in the Official Journal of the European Union, which can be accessed in the EUR-Lex. At December 31, 2017, the standards and interpretations adopted for use in the European Union were the same as those published by the IASB and applicable at that date, except for IAS 39 – Financial Instruments: Recognition and Measurement, which was only partly adopted. The unadopted provisions of IAS 39 had no impact on the Group’s Consolidated Financial Statements. The Consolidated Financial Statements also include the material disclosures required by Standard no. 2016-09 published by the French accounting authorities (Autorité des Normes Comptables – ANC). Changes of method 1.2 The accounting policies and calculation methods used to prepare the 2017 Consolidated Financial Statements are the same as those used for the 2016 Consolidated Financial Statements, except for the following amendments, which were applicable as of January 1, 2017: Amendments to IAS 7 – Disclosure Initiative: the requisite ● disclosures regarding changes in liabilities arising from financing activities are set out in Note 12; Amendments to IAS 12 – Recognition of Deferred Tax Assets for ● Unrealised Losses: these amendments did not have a material impact on the Consolidated Financial Statements. The Group decided not to early adopt the following standards, amendments and interpretations that were not applicable as of January 1, 2017: