Wolters Kluwer N.V. ANNUAL

Business / Consolidation

Basis of c onsolidation Subsidiaries Subsidiaries ar e all entities contr olled by the group. The gr oup c ontr ols an entity when it is exposed to, or ha s rights to, v ariable r eturns fr om its invol vement with the entity and can affect those r eturns through its power o ver the entity . The principle of c ontr ol is the basis f or determining which entities ar e consolidat ed in the consolidat ed financial stat ements. Los s of contr ol Upon loss of c ontr ol, the group der ec ognizes the as sets and liabilities of the subsidiary , any non-contr olling int erests, and the other c omponents of equity r elat ed to the subsidiary . Any gain or loss arising fr om the loss of c ontr ol is r ecogniz ed in pr ofit or loss in divestment -related r esults. F or eign curr ency F unctional and pr esentation c urr ency Items included in the financial st atements of each of the gr oup entities ar e mea sur ed using the curr ency of the primary economic en vir onment in which the group entities oper ate (the functional curr ency). The consolidat ed financial stat ements ar e pr esented in eur os, which is the gr oup’ s pr esentation curr ency .