IFRS 8 'Operating segments'

Aggreko Plc Monitor

Aggreko Plc Annual Report 2016
CR Monitor Issue: 
2017/0909
Company covered: 
Aggreko Plc
Period End: 
31 December, 2016
Report issued on 19 September 2017 covered the following practice issues:
Restatement
Change in contract organisational management structure leads to restatement of segment disclosures.
Change
Segment disclosures expanded to include geographic breakdown of revenue and non-current assets.
Change
Change in depreciation life of tangible fixed asset accounted for prospectively.
Pronouncements
Expanded disclosure of future impending impacts of new standard IFRS 15 "Revenue from contracts with customers" without quantification.
Change
Auditors discussion of audit scope enhanced by inclusion of pie charts.
Change
Sensitivity analysis included in discussion of area of significant judgement and estimate in relation to taxation.

Croda International Plc Monitor

Croda International plc Annual Report 2016
CR Monitor Issue: 
2017/0815
Company covered: 
Croda International Plc
Period End: 
31 December, 2016
Report issued on 29 August 2017 covered the following practice issues:
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Pronouncements
Summarised non-quantified disclosure of future impacts of IFRS 9 "Financial instruments".
Restatement
Restatement of segment information as a result of product reclassification.
Restatement
Restatement of segment disclosure of total assets without explanation.
Change
Enhancement of risk disclosures through introduction of risk heat map.

Bunzl plc Monitor

Bunzl plc Annual Report 2016
CR Monitor Issue: 
2017/0813
Company covered: 
Bunzl plc
Period End: 
31 December, 2016
Report issued on 28 August 2017 covered the following practice issues:
Pronouncements
Change in accounting policy in respect of cash pooling balances in line with IFRIC guidance.
Change
Software assets re-classified from property plant and equipment to intangible assets.
Pronouncements
Disclosure of future impacts of impending standards, IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases", with no quantification.
Change
Results from US arm of European based business reclassified from European to North American segment following change in management location.
New
Tabular disclosure added summarising business acquisitions completed during the year.

Koninklijke Philips N.V. Monitor

Koninklijke Philips N.V. Annual Report 2016
CR Monitor Issue: 
2017/0812
Company covered: 
Koninklijke Philips N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Reclassification of all net defined-benefit post-employment plan obligations under long-term provisions.
Change
Cash flow from sale of non-controlling interest in previously wholly owned subsidiary reflected as arising from financing activities.
Restatement
Reporting segment information restated following a change in organisational structure.
Change
Change in reporting segment profit measure.
Pronouncements
Detailed un-quantified disclosure of future impacts of new revenue standard.
Pronouncements
Un-quantified disclosure of the future impact of new financial instruments standard.

Heineken N.V. Monitor

Heineken N.V. Annual Report 2016
CR Monitor Issue: 
2017/0810
Company covered: 
Heineken N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Change
Reconciliation of non IFRS segment profit measure to profit before tax added.
Change
Proposed change to the measure of performance applied to awards made to directors under a long-term variable award plan.
Change
Disclosure of key assumption applied when calculating fair value less cost of disposal linked to fixed asset impairment.
Restatement
Restatement of figures for "raw material purchase contracts" and "other off-balance sheet obligations".

GlaxoSmithKline plc Monitor

GlaxoSmithKline plc Annual Report 2016
CR Monitor Issue: 
2017/0811
Company covered: 
GlaxoSmithKline plc
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Change in composition of reporting segments linked to restructuring of the business.
Change
Identification of new areas of audit focus in relation to "Acquisition-related liabilities" and "Finance transformation".
Pronouncements
Disclosure of proposed changes in non-audit services policy in line with Financial Reporting Council’s (FRC’s) revised Ethical Standards and new EU Audit Regulation.
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Restatement
Analysis of defined benefit scheme assets and obligations restated to exclude defined contribution plan amounts.

Euromoney Institutional Investor PLC Monitor

Euromoney Institutional Investor PLC Annual Report 2016
CR Monitor Issue: 
2017/0806
Company covered: 
Euromoney Institutional Investor PLC
Period End: 
30 September, 2016
Report issued on 08 August 2017 covered the following practice issues:
Restatement
Segment reporting restated following implementation of new business strategy.
Change
Mutli-employer pension scheme accounted for as a defined benefit scheme for the first time.
Change
Auditors report extended by inclusion of disclosure of new areas of audit focus.
Change
Method of valuation disclosed in relation to business held for sale.
Change
Extended analysis of deferred income

William Hill PLC Monitor

William Hill PLC Annual Report 2016
CR Monitor Issue: 
2017/0705
Company covered: 
William Hill PLC
Period End: 
27 December, 2016
Report issued on 11 July 2017 covered the following practice issues:
Change
Income statement format altered to highlight adjustments to statutory results other than exceptional items.
Change
Newly recognised financial instruments categorised in line with IAS 39.
Change
Detailed breakdown of fair value of assets and liabilities in respect of a 100% business acquisition.
Change
Identification of "transformation programme" as a new principal risk factor.
Restatement
Segment reporting restated following merger of "Telephone" and "Online" segments.

Compass Group PLC Monitor

Compass Group PLC Annual Report 2016
CR Monitor Issue: 
2017/0701
Company covered: 
Compass Group PLC
Period End: 
30 September, 2016
Report issued on 4 July 2017 covered the following practice issues:
Change
Discussion of corporate social responsibility framed in terms of UN set sustainable development goals.
Change
Disclosures added on evaluation of board performance by external independent party.
Change
Directors remuneration report enhanced by inclusion of remuneration summary.
Change
Greater clarity given in respect of description of provision class.
Restatement
Reporting segments restated following a change in management structure.

Segment disclosures and the chief operating decision maker under IFRS

This report sets out our findings in respect of a review of the IFRS segment disclosures of 25 UK listed companies, drawn from a range of different industries, as covered by IFRS 8 “Operating segments”. We consider a number of points including disclosures in respect of the chief operating decision maker, the factors used to identify reportable segments and whether there has been aggregation of operating segments and income statement and statement of financial position information reported by segment.