Saint Gobain - Registration document 2016

FINANCIAL AND ACCOUNTING INFORMATION

1. 2016 Consolidated Financial Statements

211

SAINT-GOBAIN

- REGISTRATION DOCUMENT 2016

companies and joint ventures. They are expressed in euros

rounded to the nearest million.

position of Compagnie de Saint-Gobain and its subsidiaries

(“the Group”), as well as the Group’s interests in associate

The consolidated financial statements reflect the accounting These consolidated financial statements were adopted by the

Board of Directors on February 23, 2017 and will be

submitted to the Shareholders’ Meeting for approval.

Accounting rules and principles are identified through a specific color.

ACCOUNTING PRINCIPLES AND POLICIES

NOTE 1

December 31, 2015, except for the application of the new

standards and interpretations described below. The

liabilities that have been measured using the fair value model

as explained in these notes.

consolidated financial statements have been prepared using

the historical cost convention, except for certain assets and

The accounting policies applied are consistent with those

used to prepare the financial statements for the year ended

Standards applied

1.1

statements have also been prepared in accordance with the

IFRS issued by the International Accounting Standards Board

European Union at December 31, 2016. These financial

http://ec.europa.eu/finance/accounting/ias/index_en.htm.

(IASB). Standards adopted by the European Union may be

consulted on the European Commission website, at

accordance with the International Financial Reporting

Standards (IFRS) and interpretations adopted for use in the

The consolidated financial statements have been prepared in

Standards, interpretations and

1.1.1

on or after January 1, 2016

amendments to existing standards

applicable for reporting periods beginning

beginning on or after January 1, 2016 do not have a material

impact on the consolidated financial statements:

The standards, interpretations and amendments to published

standards applicable for the first time for reporting periods

amendment to IAS 1, “Disclosure initiative”;

acceptable methods of depreciation and amortization, and

amendment to the revaluation method”;

amendment to IAS 16 and IAS 38, “Clarification of

amendment to IAS 19, “Employee contributions and

discount rate (regional market issue)”;

interests in joint operations”;

amendment to IFRS 11, “Accounting for acquisitions of

statements”;

amendment to IAS 27, “Equity method in separate financial

amendment to IFRS 2, “Share-based Payment - Definition

of vesting conditions” (for share-based payments awarded

after July 1, 2014 - prospective application);

amendment to IFRS 3, “Business Combinations -

Accounting for contingent consideration” (for business

application);

combinations carried out after July 1, 2014 - prospective

Changes in methods of disposal”;

amendment to IFRS 5, “Non-current Assets Held for Sale -

regarding management mandates and applicability of the

amendments to IFRS 7 to condensed interim financial

amendment to IFRS 7, “Financial Instruments - Disclosures

statements”;

Aggregation of operating segments and reconciliations of

assets”;

amendment to IFRS 8, “Operating Segments -

“Short-term receivables and payables”;

amendment to the Basis for Conclusions of IFRS 13,

management personnel”;

amendment to IAS 24, “Related Party disclosures - Key

Information provided elsewhere in the interim financial

report”.

amendment to IAS 34, “Interim Financial Information -

available for early adoption in reporting

Standards, interpretations and

1.1.2

amendments to existing standards

periods beginning on or after January 1,

2016

on or after January 1, 2017 were not early-adopted by the

Group in 2016.

The new standards, interpretations and amendments to

existing standards applicable for reporting periods beginning

IFRS 9, “Financial Instruments”: the initial phase of this

project in 2016 involved an analysis of issues relating to

financial instruments (excluding trade receivables). The

analysis will focus on trade receivables as from early 2017.

method of recognizing revenue and (ii) analyzing the

overall impacts of the standard.

IFRS 15, “Revenue from Contracts with Customers”:

carried out in 2016 with the dual aim of (i) identifying the

specific cases in which the standard will change the

although the Group does not expect IFRS 15 to have a

material impact on its financial statements, a project was