IC Companys – Annual Report 2008/09 0 - IC Companys A/S

Share-based incentive plans
Share-based incentive plans in which employees can only chose to buy shares in the Parent Company (equity
schemes) are measured at the equity instruments’ fair value at the grant date and recognised in the income statement
under staff costs over the period during which the employee’s right to buy the shares vests. The balancing
item is recognised directly in equity.
The fair value of equity instruments is determined using the Black & Scholes model with the parameters stated in
note 5 to the financial statements.
Discontinued operations and non-current assets held for sale
Discontinued operations are major business areas or geographical areas which have been sold or which are held
for sale according to an overall plan.
The results of discontinued operations are presented as a separate item in the income statement, consisting of
the activity’s operating profit/loss after tax and any gains or losses on fair value adjustment or sale of the related
assets.
Non-current assets and groups of assets held for sale, including assets related to discontinued operations, are
presented as a separate item in the balance sheet as current liabilities. Liabilities directly related to the assets
and discontinued operations in question are presented as current liabilities in the balance sheet.
Non-current assets held for sale are not depreciated or amortised, but are written down to fair value less expected
costs to sell where this is lower than the carrying amount.
Income statement
Revenue
Revenue from the sale of goods is recognised in the income statement when delivery and transfer of risk to the
buyer have taken place and if the income can be reliably measured and is expected to be received. Revenue is
measured excluding VAT, indirect taxes and discounts related to sales.
Revenue is measured at the fair value of the consideration received or receivable.
In addition to the sale of goods, revenue comprises licence revenue.
Cost of sales
Cost of sales includes direct costs incurred to obtain the revenue for the year. The Company recognises cost of
sales as revenue is earned. The change for the year in the inventory of goods for resale is included in cost of sales.
Staff costs
Staff costs include salaries, remuneration, pensions, share-based payments and other staff costs to the Company’s
employees, including the members of the Executive Board and Board of Directors. Agents’ commissions to
external sales agents are also included.
Depreciation, amortisation and writedown of fixed assets
Amortisation, depreciation and impairment comprise amortisation of intangible assets, depreciation of property,
plant and equipment and impairment losses for the year.
Other operating expenses
Other operating expenses comprise other purchase and selling costs and administrative expenses of a primary
nature relative to the Company's principal activities.
Leasing expenses relating to operational leasing agreements are recognised by straight-line method in the income
statement under “Other operating expenses”.
Other gains and losses
Other gains and losses comprise items of a secondary nature relative to the principal activities, including gains
and losses on the sale of intangible assets and property, plant and equipment.
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