The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS).
1. Accounting Policies
Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided. All ratios and variances are calculated using the underlying amount rather than the presented rounded amount.
Adoption of revised accounting law
LafargeHolcim Ltd has adopted the revised accounting law as contained in the Swiss Code of Obligations (CO) starting January 1, 2015.
In conformity with the transitional provisions prior year figures are shown in the revised accounting law format and are therefore not directly comparable with the format of the prior year financial statements.
Accounting principles applied
Share based payments expense is recorded on an accrual basis over the course of the years. The shares are granted at their fair value.
Treasury shares are recognized at acquisition cost and deducted from equity. Gains and losses on the sale are recognized in the income statement.