Modèle Word ddr danone

Accounting principles
IAS 29 requires the non-monetary assets and liabilities and income statements of countries with hyperinflationary economies to be 
restated to reflect the changes in the general purchasing power of their functional currency, thereby generating a profit or loss on the net 
monetary position which is recognized in net income within Other financial income or Other financial expense. In addition, the financial 
statements of the subsidiaries in these countries are translated at the closing exchange rate of the reporting period concerned, in 
accordance with IAS 21.
Danone has used the following indexes to remeasure its income statement items, cash flows and non-monetary assets and liabilities as 
of December 31, 2019: the Consumer Price Index (CPI). This index was up 54% in 2019. The EURARS exchange rate used to translate 
the income statement amounted to 67.2 in 2019 (43.09 in 31, 2018). 
Main accounting implications 
The application of IAS 29 had a €52 million impact on consolidated equity and on non-monetary assets net of non-monetary liabilities as 
of December 31, 2019 (€66 million as of December 31, 2018) and had the following main impacts on the consolidated income statement 
for the period:
• 
a €15 million decrease in consolidated sales and a €36 million decrease in recurring operating income (decrease of €51 
million and €30 million respectively in 2018); 
• 
a €7 million loss on the net monetary position recognized in Other financial income (expense), compared with a €3 million 
positive impact in 2018;
• 
a €73 million expense in Net income - Group share (€45 million expense in 2018).
Note 1.7. Presentation of costs related to employee benefits 
As from January 1, 2019, the Group presents all costs related to employee benefits (bonuses, employee profit-sharing, Group 
performance shares, defined benefit retirement plans and other employee benefits) under the same headings as those used for salaries 
and social security charges. As a result, the costs related to employee benefits previously presented under Other income (expense) are 
now allocated to the other headings under Recurring operating income. The 2018 comparatives have been restated in the consolidated 
financial statements for the year ended December 31, 2019 (reclassification of €169 million initially presented in Other income 
(expense)). 
Note 1.8. Application of the amendment to IFRS 9 - Phase 1 
For Danone, the reform of reference rates (IBOR) concerns instruments used to manage net debt, qualified as hedging and indexed to 
Euribor as the financings they manage (see Note 13.3 to the consolidated financial statements). The Group expects Euribor to be 
replaced by hybrid Euribor simultaneously in the contracts of the hedging instruments and hedged items and therefore does not 
anticipate any significant impact of this reform on its hedging relationships.
The Group is applying the amendment to IFRS 9 relating to the reform of reference rates in advance in the consolidated financial 
statements for the year ended December 31, 2019. Consequently, the hedging relationships concerned are not affected by the reform.