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119
2014 Registration Document
Comments on 2014 fiscal year
4
Other information
4.4
Other information
4.4.1
Accounting principles
The accounting and calculation methods used to prepare the Consolidated
Financial Statements for the year ended December 31, 2014 are the
same as those used for the 2013 Consolidated Financial Statements,
except for the adoption of the following standards and amendments
whose application did not have any material impact on the Consolidated
Financial Statements:
■
IFRS 10 –
Consolidated Financial Statements
;
■
IFRS 11 –
Joint Arrangements
;
■
IFRS 12 –
Disclosure of Interests in Other Entities
;
■
IAS 28 (revised) –
Investments in Associates and Joint Ventures
;
■
amendment to IAS 32 –
Financial Instruments-Presentation
;
■
amendment to IAS 36 –
Impairment of Assets: Recoverable Amount
Disclosures for Non-Financial Assets
;
■
amendment to IAS 39 –
Financial Instruments: Recognition and
Measurement
.
The Group also elected to early adopt IFRIC 21 – Levies, that was
adopted by the European Union on June 13, 2014. This interpretation
defines the obligating event for the recognition of a liability as the activity
that triggers the payment of the levy in accordance with the relevant
legislation:
■
The effect of applying IFRIC 21 was a €82 million increase in opening
shareholders’ equity at January 1, 2013;
■
The impact on the 2013 consolidated income statement was not
material.
The Group decided not to early adopt the following standards and
interpretations that were not applicable as of January 1, 2014:
Adopted for use in the European Union:
■
IFRS Annual Improvements, 2010-2012 and 2011-2013 (applicable
in annual periods beginning on or after July 1, 2015).
Not yet adopted for use in the European Union:
■
IFRS 15 –
Revenue from Contracts with Customers
.
■
IFRS 9 –
Financial Instruments
;
■
IFRS Annual Improvements, 2012-2014 (applicable in annual periods
beginning on or after January 1, 2016).
The possible impact on the Consolidated Financial Statements of applying
these new and amended standards is currently being assessed.
Details of the new and amended standards and interpretations, including
those not yet adopted for use in the European Union, are provided in
Note 1.2 “IFRSs and interpretations applied by the Group”.
4.4.2
Significant events of the period
Creation of a company for shopping centers adjacent
to the Group’s hypermarkets in Europe
On December 16, 2013, Carrefour announced that it had signed
a memorandum of understanding with Klépierre for the purchase of
127 shopping malls.
Following signature of the final agreement between the partners on
January 24, 2014, consultation of employee representative bodies and
the approval of the relevant regulatory authorities, on April 16, 2014,
the Group and its co-investment partners announced the creation of
Carmila, a company dedicated to enhancing the value of the shopping
malls adjacent to Carrefour hypermarkets in France, Spain and Italy.
Upon its creation, Carmila owns a portfolio of 171 shopping malls
comprising:
■
on the one hand, 126 sites in France, Spain and Italy acquired on
April 16, 2014 from Klépierre for a market value of €2.0 billion;
■
on the other hand, 45 sites in France contributed by Carrefour with
a market value of €0.7 billion.