International Financial Reporting Standards (IFRS) and Interpretations (IFRIC) applied


The consolidated financial statements of Deutsche Lufthansa AG, Cologne, and its subsidiaries have been prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), taking account of interpretations by the International Financial Reporting Interpretations Committee (IFRS IC) as applicable in the European Union (EU).

The following section shows all the standards and interpretations applicable as of 1 January 2011 in condensed form. They did not have a significant effect on the Group’s net assets, financial and earnings position in the reporting period:

 

 

 

 

IFRS pronouncement

Adopted

EU endorsement

Published in the Official Journal of the EU

Effective date in EU

Amendment to IAS 32, Financial Instruments: Presentation:
Classification of Rights Issues

8.9.2009

23.12.2009

24.12.2009

1.2.2010

Amendment to IFRS 1, First-time Adoption of IFRS: Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters

28.1.2010

30.6.2010

1.7.2010

1.7.2010

Amendment to IAS 24,
Related Party Disclosures

4.11.2009

19.7.2010

20.7.2010

1.1.2011

IFRIC 19, Extinguishing Financial Liabilities with Equity Instruments

19.11.2009

23.7.2010

24.7.2010

1.7.2010

Amendment to IFRIC 14: Prepayments
of a Minimum Funding Requirement

26.11.2009

19.7.2010

20.7.2010

1.1.2011

Annual Improvements to IFRS

6.5.2010

18.2.2011

19.2.2011

Mainly 1.1.2011

The revision of IAS 24 Related Party Disclosures gives a more precise definition of the term “related party”.

IAS 32 Financial Instruments: Presentation was altered so that subscription rights and options or warrants for shares in another currency than the company’s reporting currency, which were previously shown as financial liabilities, are under certain circumstances now to be presented as equity instruments.