GDNNY » Topics » Translation of financial statements of foreign operations

This excerpt taken from the GDNNY 20-F filed Apr 2, 2007.

Translation of financial statements of foreign operations

 

Financial statements of foreign operations are translated into euro as follows:

 

   

balance sheet items are translated using period-end exchange rates;

 

   

income statement items are translated using the average exchange rate for the period.

 

The resulting exchange differences, which are included in stockholders’ equity under the heading “Cumulative translation adjustments”, are recognized in the income statement when the related foreign operations are sold or liquidated.

 

This excerpt taken from the GDNNY 20-F filed Jun 20, 2006.

Translation of financial statements of foreign operations

 

Financial statements of foreign operations are translated into euro as follows:

 

    balance sheet items are translated using period-end exchange rates;

 

    income statement items are translated using the average exchange rate for the period.

 

The resulting exchange differences, which are included in stockholders’ equity under the heading “Cumulative translation adjustments”, are recognized in the income statement when the related foreign operations are sold or liquidated.

 

This excerpt taken from the GDNNY 20-F filed Apr 20, 2006.

Translation of financial statements of foreign operations

 

Financial statements of foreign operations are translated into euro as follows:

 

    balance sheet items are translated using period-end exchange rates;

 

    income statement items are translated using the average exchange rate for the period.

 

The resulting exchange differences, which are included in stockholders’ equity under the heading “Cumulative translation adjustments”, are recognized in the income statement when the related foreign operations are sold or liquidated.

 

This excerpt taken from the GDNNY 6-K filed Sep 19, 2005.

Translation of financial statements of foreign operations

 

Financial statements of foreign operations are translated into euro as follows:

 

    balance sheet items are translated using period-end exchange rates;

 

    income statement items are translated using the average exchange rate for the period.

 

The resulting exchange differences, which are included in stockholders’ equity under the heading “Cumulative translation adjustments”, are recognized in the income statement when the related foreign investments are sold or liquidated.

 

This excerpt taken from the GDNNY 20-F filed Apr 15, 2005.

Translation of financial statements of foreign operations

 

Financial statements of foreign operations are translated into euro as follows:

 

    balance sheet items are translated using year-end exchange rates;

 

    income statement items are translated using the average exchange rate for the year;

 

    the resulting exchange differences, which are included in stockholders’ equity under the heading “Cumulative translation adjustments,” are recognized in the income statement when the related foreign investments are sold or liquidated.

 

Goodwill is translated into euro using year-end exchange rates, with the exception of goodwill related to the acquisition of subsidiaries in the euro zone, which is translated into euro using historical exchange rates.

 

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Table of Contents

GROUPE DANONE

 

CONSOLIDATED FINANCIAL STATEMENTS

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

 

Where the functional currency is not the local currency (highly inflationary countries like Turkey), the translation of the financial statements into euro differs from that described above: tangible and intangible assets, long-term investments and stockholders’ equity along with the related income statement items are translated into euro at the appropriate historical exchange rates. The exchange differences arising from the use of different exchange rates (historical exchange rates for some items and closing exchange rates for others) are recorded in the line “Other (expense) income” in the consolidated income statement.

 

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