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)
2.13 Property, Plant and Equipment (continued)
The carrying values of property, plant and equipment are reviewed for impairment when events or changes
in circumstances indicate the carrying value may not be recoverable. If any such indication exists and where
the carrying values exceed the estimated recoverable amount, the assets or cash-generating units are written
down to their recoverable amount. The recoverable amount of property, plant and equipment is the greater of
net selling price and value in use. In assessing value in use, the estimated future cash flows are discounted
to their present value using a pre-tax discount rate that reflects current market assessments of the time value
of money and the risks specific to the asset. For an asset that does not generate largely independent cash
inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. The
increase in the carrying amount of an asset attributable to a reversal of an impairment loss shall not exceed the
carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss
been recognized for the asset in prior years. The increase is recognized in the consolidated income statement
(Note 18).
The Group management accounts for returnable bottles under property, plant and equipment. Deposit
obligations relating to such returnable bottles are reflected in other payables. The Group sells its products also
in non-returnable bottles. For such sales, there is no deposit obligation of the Group.
Expenses for repair and maintenance of property, plant and equipment are normally charged to the income
statement. They are, however, capitalized and depreciated through the estimated useful life of the property,
plant and equipment in exceptional cases if they result in an enlargement or substantial improvement of the
respective assets.
2.14 Intangible Assets
Intangible assets acquired separately from a business are capitalized at cost.
Intangible assets acquired as part of an acquisition of a business are capitalized separately from goodwill, if
the fair value can be measured reliably. Intangible assets, excluding development costs, created within the
business are not capitalized and expenditure is charged against profits in the year in which it is incurred.
Supplies relating to promotion and marketing activities are incurred as expense when the right to reach these
supplies is recognized. Intangible assets are amortized on a straight-line basis over the best estimate of their
useful lives. Intangible assets with indefinite useful life formed in the financial statements in accordance with
purchase method, are not subject to amortization and the carrying amounts of such intangibles are reviewed
for impairment at least annually and whenever there is an indication of possible impairment.
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