CREDIt RAtING OF ANADOLU EFES

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2010
(Currency - Unless otherwise indicated thousands of Turkish Lira (TRL))
NOTE 2. BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (continued)
2.12 Financial Investments
The Group has classified its financial assets as “available-for-sale” in accordance with IAS 39 “Financial
Instruments: Recognition and Measurement”. Financial assets, intended to be held for an indefinite period
of time, which may be sold in response to needs for liquidity or changes in interest rates are classified as
available-for-sale. These financial assets are included in non-current assets unless management has the
intention of holding the investment for less than twelve months from the balance sheet date, or unless they
will need to be sold to raise working capital, in which case they are included in current assets. Management
determines the appropriate classification of its financial assets at the time of the purchase and re-evaluates
such designation on a regular basis.
All investments are initially carried at cost, being the fair value of the consideration given and including
acquisition changes associated with the investment. After initial recognition, investments which are classified
as available-for-sale are measured at fair value. For investments that are actively traded in organized financial
markets, fair value is determined by reference to stock exchange quoted market bid prices at the close of
business on the balance sheet date and positive or negative valuation differences of investments, which are
measured at fair value, have been recognized under comprehensive income statements as “value increase in
available-for-sale securities” in the consolidated financial statements.
Investments classified as available-for-sale investments, that do not have a quoted market price in an active
market and whose fair value cannot be reliably measured by alternative valuation methods, are measured at
cost. The carrying amounts of such investments are reviewed at each balance sheet date for impairment.
All the acquisitions and disposals of the available for sale securities are recorded to accounts at the date of
obligation of the Group for purchasing or selling the asset.
2.13 Property, Plant and Equipment
Property, plant and equipment (PP&E) are stated at cost less accumulated depreciation and any impairment in
value. Land is not depreciated. Depreciation is computed on straight-line method over the following estimated
useful lives:
Buildings and land improvements 10-50 years
Machinery and equipment 4-20 years
Leasehold improvements 4-15 years
Furniture and fixtures 3-15 years
Vehicles 5-10 years
Returnable bottles and cases 5-10 years
Other tangible assets 2-14 years
ANADOLU EFES ANNUAL REPORT 2010
159