Question
I am tasked with converted Daimler 2018 income statement form IFRS to GAAP. I was hoping that someone could review and walk me through it.
I am tasked with converted Daimler 2018 income statement form IFRS to GAAP. I was hoping that someone could review and walk me through it.
| Daimler Group | |
| (In Millions of Euros) | |
| 2018 | |
| Net Profit | 7582 |
| Currency Translation Adjustments | 234 |
| Equity Instruments and debt Instruments | |
| Unrealized gains/losses (pre-tax) | -45 |
| Reclassifications to profit and loss (pre-tax | 0 |
| Taxes on unrealized gains/losses and on reclassifications | 21 |
| Equity instruments and debt instruments | -24 |
| Derivative financial instruments | |
| Unrealized gains/losses (pre-tax) | -1080 |
| Reclassifications to profit and loss (pre-tax) | -722 |
| Taxes on unrealized gains/losses and on reclassifications | 537 |
| Derivative financial instruments | -1265 |
| Equity-method investments | |
| Unrealized gains/losses (pre-tax) | -3 |
| Taxes on unrealized gains/losses and on reclassifications | -1 |
| Equity-method investments | -4 |
| Items that may be reclassified to profit/loss | -1059 |
| Actuarial gains/losses on equity-method investments (pre-tax) | -1 |
| Actuarial gains/losses on equity-method investments | -1 |
| Actuarial gains/losses from pensions and similar obligations (pre-tax) | -1627 |
| Taxes on actuarial gains/losses from pensions and similar obligations | 171 |
| Actuarial gains/losses from pensions and similar obligations | -1456 |
| Items that will not be reclassified to profit/loss | -1457 |
| Other comprehensive income/loss, net of taxes | -2516 |
| Total comprehensive income | 5066 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing The Art And Science Of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser-Hogeterp
11th Edition
0132088061, 978-0132088060
