Statoil changed functional currency for certain of its companies. The accounts for these companies are therefore now recorded in USD, while the presentation currency for the Group remains NOK. The changes in functional currencies have no cash impact.
The companies changing functional currency will no longer have currency exchange effects, deriving from USD denominated monetary assets and liabilities, related to the “Net financial items”. Conversely, monetary assets and liabilities, denominated in other currencies than USD, may now generate such currency effects.
The changes have previously been announced in the Annual Report on Form 20-F for 2008 and the fourth quarter 2008 report.
| 1Q |
4.0 |
1.9 |
-0.5 |
| 4Q |
-0.5 |
-2.2 |
0.6 |
| 3Q |
-0.4 |
-4.7 |
1.3 |
| 2Q |
-0.3 |
6.0 |
-1.7 |
| 1Q |
0.4 |
-6.8 |
1.9 |
| 4Q |
0.1 |
0.6 |
0 |
| 3Q |
(1.3) |
4.9 |
(1.9 |
| 2Q |
1.4 |
(3.2) |
0.9 |
| 1Q |
(0.6) |
(3.8) |
0.9 |
| 4Q |
0 |
(0.4) |
0.2 |
| 3Q |
(4.0) |
(6.6) |
1.5 |
| 2Q |
3.3 |
4.8 |
(1.0) |
| 1Q |
2.5 |
(0.2) |
0.3 |
| 4Q |
(1.7)
|
(0.6)
|
0.2
|
| 3Q |
(2.0) |
(10.9) |
2.9 |
| 2Q |
0.1 |
(3.6) |
1.3 |
| 1Q |
1.5 |
(10.0) |
2.5 |