Accounting policies applied for the financial statements

General

In determining the accounting policies for the valuation of assets and liabilities and determining the result for the company financial statements, NV Nederlandse Spoorwegen makes use of the option provided by Section 362(8) of Book 2 of the Dutch Civil Code. This means that the accounting policies for the valuation of assets and liabilities and determination of the result (hereinafter the ‘accounting policies') for the company financial statements of NV Nederlandse Spoorwegen are the same as those used for the consolidated financial statements. Participating interests in which significant influence is exercised are valued using the equity method.

In accordance with Section 2:402(1) of the Dutch Civil Code, the separate financial statements of NV Nederlandse Spoorwegen only include an income statement in abbreviated form.

Participating interests in group companies

The participating interests in group companies are measured according to the equity method, whereby, at the time the participating interest is written down, losses are only taken into account to the extent that the shareholder is obliged to make good these losses.

Result of group companies

The result of group companies consists of the result after income tax.