5.4.4Principles for the Measurement of Assets and Liabilities and the Determination of the Result
SBM Offshore N.V. uses the option provided in section 2:362 (8) of the Netherlands Civil Code in that the principles for the recognition and measurement of assets and liabilities and determination of result (hereinafter referred to as principles for recognition and measurement) of the separate financial statements of SBM Offshore N.V. are the same as those applied for the consolidated financial statements. The consolidated financial statements are prepared according to the standards set by the International Accounting Standards Board and adopted by the European Union (referred to as EU-5.2.7 Accounting Principles’) for a description of these principles.). Reference is made to the notes to the consolidated financial statements (‘
Investments in group companies, over which control is exercised, are stated on the basis of the net asset value.
Results on transactions, involving the transfer of assets and liabilities between SBM Offshore N.V. and its participating interests or between participating interests themselves, are not incorporated insofar as they can be deemed to be unrealized.