47. Change in accounting method (inventories)

In June 2021 the Interpretations Committee decided that when calculating the net realisable value of inventories, the estimated necessary reselling expenses should not be restricted just to incremental costs. The amendment to the accounting method used by METRO pursuant to IAS 8 due to this decision has led to retrospective amendments to various items. Specifically, the following amendments were carried out:

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€ million

1/10/2019 as reported

Amendments to IAS 2

1/10/2019

Deferred tax assets

284

6

291

Inventories

1,946

−29

1,917

Equity/reserves retained from earnings

−4,167

−22

−4,189
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€ million

30/9/2020 as reported

Amendments to IAS 2

30/9/2020

Deferred tax assets

252

6

258

Inventories

1,888

−29

1,860

Equity/reserves retained from earnings

−3,358

−22

−3,380

Due to the fundamental stability of inventories there were no amendments either in the income statement or on the in financial year 2019/20.

IFRS (International Financial Reporting Standards)
Internationally applicable rules for financial reporting developed by the IASB. Contrary to the accounting rules under the German Commercial Code, the IFRS emphasise the informational function.
Glossary
Earnings per share (basic/diluted)
The earnings per share (basic) are calculated by dividing the profit share attributable to the shareholders of METRO AG by the weighted average number of shares in circulation. The earnings per share (diluted) also take into account the effect of so-called potential shares, for example due to issued stock options.
Glossary