Resultados de los conteos Sube/Baja: Perfiles de demanda por ruta

(1) Accounting standards

Recognition and measurement within Aareal Bank Group are based on accounting policies applied con- sistently throughout the Group. The consolidated financial statements are prepared on a going concern basis. We generally apply accounting policies – and the presentation of financial statements – consistently, in order to ensure the comparability of financial statements over time.

Information is presented in accordance with the principle of materiality. Minor differences may occur regarding the figures stated due to rounding.

The bank observes the general prohibition of setting off assets against liabilities. To the extent that the criteria of IAS 12.74 are met, deferred tax assets and deferred tax liabilities are offset. If the requirements set out in IAS 32.42 are met, financial assets and liabilities are reported on a net basis.

Income and expenses are recognised on an accrual basis and recorded in the income statement in the period to which they relate.

In the preparation of the financial statements, assets and liabilities were primarily measured using amor- tised cost or fair value. Which measurement method will actually be used for a particular item is defined by the applicable standard (see section ”Specific accounting policies“). Financial instruments are accounted for in accordance with the classification and measurement principles as defined in IAS 39. Derivative hedging instruments are accounted for on the basis of the provisions for hedge accounting.

The presentation of the financial position and the financial performance in the consolidated financial state ments depends on the recognition and measurement methods underlying the preparation of the financial statements as well as on estimates and assumptions as a result of the uncertainty associated with future events. Any assumptions and estimates required for recognition and measurement are in line with the relevant accounting standards. Estimates and assumptions are based on historical experience and other factors such as planning and current expectations and forecasts with respect to the occurrence of future events. The estimates and assessments themselves as well as the underlying assessment factors and estimation techniques are reviewed regularly and compared with actual outcome. In our view, the parameters used are relevant and reasonable.

The most significant forward-looking assumptions and key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year primarily refer to the calculation of pension obligations, provisions and loan loss provisions, the measurement of goodwill, property and tax assets and liabilities as well as the determi- nation of fair values of certain financial instruments. We refer to the section ”Specific accounting policies“ for information related to the estimates and assumptions actually made within the context of recognition and measurement.

An asset is recognised in the statement of financial position when it is probable that an associated future economic benefit will flow to the company and the asset can be measured reliably.

Tr an sp ar enc y C on so lid at ed F in anci al S ta te me nts

Revised International Financial

Reporting Standards Issued Endorsed Effective date

IAS 1 Presentation of Items of Other Comprehensive Income

June 2011 June 2012 Financial years beginning on or after 1 July 2012 IAS 12 Deferred Tax: Recovery of

Underlying Assets

December 2010 December 2012 Financial years beginning on or after 1 January 2013

IAS 19 Employee Benefits June 2011 June 2012 Financial years beginning on

or after 1 January 2013 IAS 32 Offsetting Financial Assets and

Financial Liabilities

December 2011 December 2012 Financial years beginning on or after 1 January 2014 IFRS 7 Disclosures - Offsetting Financial

Assets and Financial Liabilities

December 2011 December 2012 Financial years beginning on or after 1 January 2013

IFRS 7 Transition Disclosures December 2011 Financial years beginning on

or after 1 January 2015 Annual Improvements

2009-2011 Cycle

May 2012 Financial years beginning on

or after 1 January 2013

• Amendment to IAS 1 Presentation of Financial Statements

The amendment to IAS 1 changes the presentation of the items reported in other comprehensive income (i. e. gains and losses recognised directly in equity, after tax) in the statement of comprehensive income.

• IAS 12 Deferred tax: Recovery of underlying assets

In accordance with IAS 12 Income Taxes, the measurement of deferred taxes depends on whether the carrying amount of an asset is recovered through its use or sale. The amendment introduces the rebuttable presumption according to which the carrying amount is normally recovered through sale. As a consequence of this amendment, SIC 21 Income Taxes – Recovery of Revalued Non-Depreciable Assets no longer applies for investment properties measured at fair value.

• Amendment to IAS 19 Employee Benefits

In accordance with the amended IAS 19, future unexpected fluctuations of pension obligations as well as any existing plan assets, so-called actuarial gains and losses, are recognised directly in other comprehensive income (i. e. gains and losses recognised directly in equity, after tax). The previous election of recognising these gains and losses directly in profit or loss, in other comprehensive income or the deferred recognition under the so-called corridor method is eliminated. Another change refers to the return on plan assets, which is no longer estimated based on return expectations based on asset allocation. Instead, any income from the expected return on plan assets may be recognised only in the amount of the discount rate. The unrealised actuarial gains and losses accrued as at 31 December 2012 amount of € 51 million and are reclassified to retained earnings as at the date of first-time application (1 January 2013), taking into account deferred taxes of € 16 million. In addition, the new rules introduce changed and more extensive disclosure requirements, and it is expected that other comprehensive income will become more volatile.

Intragroup transactions, balances, and profits on transactions between Group entities are eliminated. Accounting policies applied by subsidiaries were amended to the extent required to ensure consistent accounting throughout the Group.

Interests in jointly controlled entities are measured using the equity method.

Associates are companies in which the Group has an equity interest and may exercise significant influence, without having control. Associates are measured using the equity method. The Group‘s share in the profit or loss of associates is recognised in the consolidated income statement from the date of acquisition and is included in the carrying amount of the equity investment.

(4) Changes in accounting policies

In the reporting period, the amendments to IFRS 7 Financial Instruments: Disclosures issued by the International Accounting Standards Board (IASB) had to be applied for the first time:

This revised standard does not have any material consequences for the consolidated financial statements of Aareal Bank Group.

Until 31 December 2012, the following financial reporting standards (IASs/ IFRSs) and interpretations (SICs and IFRICs) had been published by the International Accounting Standards Board (IASB) and adopted by the EU Commission (endorsement):

New International Financial

Reporting Standards Issued Endorsed Effective date

IFRS 9 Financial Instruments November 2009 October 2010 December 2011

Financial years beginning on or after 1 January 2015

IFRS 10 Consolidated Financial Statements

May 2011 December 2012 Financial years beginning on or after 1 January 2014 IFRS 11 Joint Arrangements May 2011 December 2012 Financial years beginning on

or after 1 January 2014 IFRS 12 Disclosures of Interests in

Other Entities

May 2011 December 2012 Financial years beginning on or after 1 January 2014 IFRS 13 Fair Value Measurement May 2011 December 2012 Financial years beginning on

or after 1 January 2013 IAS 27 Separate Financial Statements

(2011)

May 2011 December 2012 Financial years beginning on or after 1 January 2014 IAS 28 Investments in Associates and

Joint Ventures (2011)

May 2011 December 2012 Financial years beginning on or after 1 January 2014 Tr an sp ar enc y C on so lid at ed F in anci al S ta te me nts

• IFRS 11 Joint Arrangements

IFRS 11 replaces IAS 31 Interests in Joint Ventures and SIC-13 Jointly Controlled Entities – Non- Monetary Contributions by Venturers that previously was applicable to the accounting for joint ventures. IFRS 11 governs the accounting for situations in which a company has joint control over a joint venture or a joint operation. The new standard eliminates the proportionate consolidation of joint ventures. In future, joint ventures have to be accounted for using the equity method. In case of a joint operation, assets, liabilities, income and expenses directly attributable to the joint operator have to be recorded in the consolidated financial statements of that joint operator.

• IFRS 12 Disclosures of Interests in Other Entities

IFRS 12 clarifies the disclosures required to be made by companies that apply the new standards IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements. This standard replaces the disclosure requirements currently included in IAS 27, IAS 28 and IAS 31. Disclosures have to be made that enable users of financial statements to assess the nature, risks and the financial effects of a company’s interests in subsidiaries, associates, joint arrangements and unconsolidated structured entities (special purpose entities).

• IFRS 13 Fair Value Measurement

IFRS 13 sets out uniform measures and disclosure requirements for fair value measurement which was previously defined in individual standards. The standard increases the extent of disclosures in connection with non-financial assets that are recognised at fair value within the context of business combinations or investment property. IFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Aareal Bank Group did not opt for early application of these standards in 2012, which are required to be applied in future financial years.