Consolidated Financial Statements
Total Page:16
File Type:pdf, Size:1020Kb
Air France-KLM Group CONSOLIDATED FINANCIAL STATEMENTS Prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Commission for use in the European Union January 1, 2015 – December 31, 2015 - 1 - 17/02/2016 Air France-KLM Group Table of contents CONSOLIDATED INCOME STATEMENT................................................................................................. - 5 - CONSOLIDATED STATEMENT OF RECOGNIZED INCOME AND EXPENSES ............................... - 6 - CONSOLIDATED BALANCE SHEET.......................................................................................................... - 7 - CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY.............................. - 9 - CONSOLIDATED STATEMENT OF CASH FLOWS .............................................................................. - 10 - 1. BUSINESS DESCRIPTION ....................................................................................................................... - 13 - 2. RESTATEMENT OF ACCOUNTS 2014 ................................................................................................. - 13 - 2.1. Modification in the presentation of the income statement ............................................................... - 13 - 2.2. Modification in the conversion method for provisions in foreign currencies ................................. - 13 - 2.3. Change in the presentation of the financial statements in conformity with the other sources of financial communication ............................................................................................................................ - 14 - 3. SIGNIFICANT EVENTS ........................................................................................................................... - 15 - 3.1. Events that occurred in the financial year ........................................................................................ - 15 - 3.2. Subsequent events ............................................................................................................................... - 16 - 4. ACCOUNTING POLICIES ....................................................................................................................... - 16 - 4.1. Accounting principles.......................................................................................................................... - 16 - 4.2. Use of estimates .................................................................................................................................... - 17 - 4.3. Consolidation principles ..................................................................................................................... - 17 - 4.4. Translation of foreign companies’ financial statements and transactions in foreign currencies . - 18 - 4.5. Business combinations ........................................................................................................................ - 19 - 4.6. Sales ...................................................................................................................................................... - 20 - 4.7. Loyalty programs ................................................................................................................................ - 20 - 4.8. Distinction between income from current operations and income from operating activities ....... - 20 - 4.9. Aggregates used within the framework of financial communication .............................................. - 21 - 4.10. Earnings per share ............................................................................................................................ - 21 - 4.11. Financial instruments, valuation of financial assets and liabilities ............................................... - 21 - 4.12. Goodwill ............................................................................................................................................. - 23 - 4.13. Intangible assets ................................................................................................................................. - 23 - 4.14. Property, plant and equipment ........................................................................................................ - 24 - 4.15. Impairment test ................................................................................................................................. - 25 - 4.16. Inventories.......................................................................................................................................... - 25 - 4.17. Treasury shares ................................................................................................................................. - 26 - 4.18. Employee benefits .............................................................................................................................. - 26 - 4.19. Provisions for restitution of aircraft under operating leases ......................................................... - 26 - 4.20. Other provisions ................................................................................................................................ - 26 - 4.21. Emission Trading Scheme ................................................................................................................ - 27 - 4.22. Equity and debt issuance costs ......................................................................................................... - 27 - 4.23. Deferred taxes .................................................................................................................................... - 27 - 4.24. Non-current assets held for sale and discontinued operations ...................................................... - 28 - 5. CHANGE IN THE CONSOLIDATION SCOPE ..................................................................................... - 28 - 6. INFORMATION BY ACTIVITY AND GEOGRAPHICAL AREA ...................................................... - 29 - 6.1. Information by business segment ....................................................................................................... - 30 - 6.2. Information by geographical area ..................................................................................................... - 32 - 7. EXTERNAL EXPENSES ........................................................................................................................... - 33 - 8. SALARIES AND NUMBER OF EMPLOYEES ...................................................................................... - 34 - 9. AMORTIZATION, DEPRECIATION AND PROVISIONS .................................................................. - 34 - 10. OTHER INCOME AND EXPENSES ..................................................................................................... - 35 - 11. OTHER NON-CURRENT INCOME AND EXPENSES....................................................................... - 35 - 12. NET COST OF FINANCIAL DEBT AND OTHER FINANCIAL INCOME AND EXPENSES ..... - 38 - 13. INCOME TAXES ..................................................................................................................................... - 39 - 13.1. Income tax charge ............................................................................................................................. - 39 - 13.2. Deferred tax recorded in equity (equity holders of Air France-KLM) ......................................... - 40 - 13.3. Effective tax rate ................................................................................................................................ - 40 - 13.4. Variation in deferred tax recorded during the period ................................................................... - 41 - 13.5. Unrecognized deferred tax assets ..................................................................................................... - 42 - 14. NET INCOME FROM DISCONTINUED OPERATIONS .................................................................. - 42 - 15. ASSETS HELD FOR SALE ..................................................................................................................... - 42 - 16. EARNINGS PER SHARE ........................................................................................................................ - 43 - - 2 - 17/02/2016 Air France-KLM Group 16.1 Income for the period – Equity holders of Air France-KLM per share ........................................ - 43 - 16.2 Non-dilutive instruments ................................................................................................................... - 43 - 16.3 Instruments issued after the closing date ......................................................................................... - 43 - 17. GOODWILL ............................................................................................................................................. - 44 - 17.1 Detail of consolidated goodwill .......................................................................................................... - 44 - 17.2 Movement in net book value of goodwill .......................................................................................... - 44 - 18. INTANGIBLE ASSETS ........................................................................................................................... - 45 - 19. IMPAIRMENT.........................................................................................................................................