Most income statement items under the current$/$noncurrent method are translated at the average exchange rate for the accounting period.

Under the current$/$noncurrent method, revenue and expense items that are associated with current assets or liabilities, such as depreciation expense, are translated at the historical rate that applies to the applicable balance sheet item.

Under the current$/$noncurrent method, revenue and expense items that are associated with noncurrent assets or liabilities, such as depreciation expense, are translated at the historical rate that applies to the applicable balance sheet item.

Depreciation expense is translated at the historical rate that applies to the applicable depreciable asset items.