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Financial Statements

Consolidated statement of comprehensive income

  • Note
    before taxes
    taxes
    after taxes
    Net income
    1,195
    -300
    895
    Foreign currency translation differences for foreign operations
    -10
    0
    -10
    Net change from hedges of net investments in foreign operations
    4.15
    -8
    2
    -6
    Effective portion of changes in fair value of cash flow hedges 2)
    4.15
    -59
    17
    -42
    Total other comprehensive income (loss) that may be reclassified subsequently to profit or loss
    -77
    19
    -58
    Remeasurement of net defined benefit liability
    4.12
    -36
    11
    -25
    Total other comprehensive income (loss) that will not be reclassified to profit or loss
    -36
    11
    -25
    Total other comprehensive income (loss)
    -113
    30
    -83
    Total comprehensive income (loss)
    1,082
    -270
    812
    Total comprehensive income (loss) attributable to shareholders of the parent company
    1,069
    -264
    805
    Total comprehensive income (loss) attributable to non-controlling interests
    13
    -6
    7

    in € millions

    1) The Schaeffler Group has initially applied the new standards IFRS 9 and IFRS 15 effective January 1, 2018, using the modified retrospective approach to transition to the new requirements. Under this approach, prior year amounts are not adjusted. See Note 1.5 "New accounting pronouncements" to the consolidated financial statements for further details.

    2) Including gains of EUR 35 m (prior year: losses of EUR 58 m) reclassified to profit and loss.

  • Note
    before taxes
    taxes
    after taxes
    Net income
    1,336
    -339
    997
    Foreign currency translation differences for foreign operations
    -270
    0
    -270
    Net change from hedges of net investments in foreign operations
    4.15
    33
    -10
    23
    Effective portion of changes in fair value of cash flow hedges 2)
    4.15
    71
    -21
    50
    Total other comprehensive income (loss) that may be reclassified subsequently to profit or loss
    -166
    -31
    -197
    Remeasurement of net defined benefit liability
    4.12
    120
    -39
    81
    Total other comprehensive income (loss) that will not be reclassified to profit or loss
    120
    -39
    81
    Total other comprehensive income (loss)
    -46
    -70
    -116
    Total comprehensive income (loss)
    1,290
    -409
    881
    Total comprehensive income (loss) attributable to shareholders of the parent company
    1,271
    -400
    871
    Total comprehensive income (loss) attributable to non-controlling interests
    19
    -9
    10

    in € millions

    1) The Schaeffler Group has initially applied the new standards IFRS 9 and IFRS 15 effective January 1, 2018, using the modified retrospective approach to transition to the new requirements. Under this approach, prior year amounts are not adjusted. See Note 1.5 "New accounting pronouncements" to the consolidated financial statements for further details.

    2) Including gains of EUR 35 m (prior year: losses of EUR 58 m) reclassified to profit and loss.

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