english - About Heraeus

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Application of new or amended standards and interpretations for the first time
In 2012 no new or changed standards and interpretations were applied which had any
impact on the Group.
Statutory accounting requirements not yet adopted
Several new standards and changes to standards and interpretations are applicable to
financial years beginning later than January 1, 2012. These were not applied in these financial
statements.
Amendment to IAS 1 “Presentation of Financial Statements.” The amendment involves
the presentation of other comprehensive income. The major change is that in the future
companies will have to break down the components of other comprehensive income into
those that will never be reclassified and those that will be reclassified. These changes
do not relate to the content of other comprehensive income.
Amendment to IAS 19 “Employee Benefits.” IAS 19 changes the definition of short-term
benefits and other long-term benefits to employees in order to clarify the difference
between the two. Eliminating the ability to choose how to record actuarial gains and losses
for profit-sharing plans is not expected to affect the Group. The Group may, however,
have to assess the effects of the change in the basis of valuation for expected earnings from
plan assets. The amended version of IAS 19 will be applicable for the first time in the
first reporting period of a financial year beginning on or after January 1, 2013, although
earlier application is permitted.
IFRS 9 “Financial Instruments” relates to the classification, recognition, and measurement
of financial assets and liabilities. IFRS 9 was issued in November 2009 and October
2010. This standard replaces the sections of IAS 39, “Financial Instruments: Recognition
and Measurement,” which referred to the classification and valuation of financial instruments.
In accordance with IFRS 9, financial assets are classified into two categories: those
that are measured at fair value and those that are measured at amortized cost. This
determination is made at initial recognition. The classification depends on how the Group
has managed its financial instruments, as well as which contractually agreed cash flows
are associated with the financial instruments. Most of the provisions of IAS 39 were retained
for financial liabilities. The main change is that when exercising the measurement at
fair value, the changes in value that result from corporate credit risk are recorded in other