For reasons of comparability with the reporting year, some prior- year figures were adjusted in the balance sheet and the income state- ment through reclassifications that do not affect net income or share- holders’ equity. 

The financial statements were prepared in euros ( ¤ ). 

## 3 Consolidation 

## Scope of consolidation 

In addition to Allianz AG, 193 (2002: 213; 2001: 163) German and 972 (2002: 1,045; 2001: 1,021) foreign enterprises have been con- solidated in full. In addition, 61 (2002: 74; 2001: 73) German and 39 (2002: 79; 2001: 85) foreign investment funds were also consoli- dated. 

Of the entities that have been consolidated in full, 10 (2002: 12; 2001: 19) certain subsidiaries have been consolidated where Allianz AG owns less than a majority of the voting power of the subsidiary, including CreditRas Vita S. p. A. and Antoniana Veneta Popolare Vita S. p. A., in all periods presented. Allianz AG exercises control over these entities by its ability to govern the financial and operating poli- cies of the enterprise through management agreements. 

13 (2002: 12; 2001: 13) joint ventures have been accounted for us- ing the equity method; each of these enterprises is managed by Allianz AG together with a third party not included in the consoli- dated financial statements. 

170 (2002: 198; 2001: 146) associated enterprises have been ac- counted for using the equity method. 

Certain enterprises have not been consolidated or accounted for us- ing the equity method in cases where their value is not material to the presentation of the financial statements as a whole. 

All affiliated companies, joint ventures, and associated compa- nies that are included in or excluded from the consolidated financial statements are individually listed in the disclosure of equity invest- ments filed with the Commercial Register in Munich. All private com- panies are also listed and identified separately in this disclosure of eq- uity investments, for which the consolidated financial statements and the Allianz Group management report are an exempt effect in accor- dance with the application of the § 264 b of the German Commercial Code (HGB). Selected affiliated and associated enterprises are shown on pages 175 to 178. 

