Annual Report 2010 - AdP

6.2 Fair value hierarchy
AdP, SGPS, S.A. assets and liabilities valued at fair value are classified according to the following fair value hierarchy levels stipulated
in IFRS 7:
Level 1: fair value of financial instruments is based on the quotes of the liquid markets active at the balance sheet date. This level
essentially includes capital instruments, debt (e.g. NYSE Euronext) and futures quoted on active markets;
Level 2: the fair value of financial instruments is not based on active markets, but rather on the basis of valuation models. The main
inputs of the models used can be observed on the market. This level includes, for instance, over-the-counter derivatives; and
Level 3: the fair value of financial instruments is not based on active market quotes, but rather on the basis of valuation models
whose main inputs are not observable on the market.
31 December 2010 31 December 2009
level I level 2 level 3 level 1 level 2 level 3
Financial assets at fair value under results
Derivatives
Financial assets at fair value under comprehensive income
- 2,227,586 - - 2,477,311 -
Derivatives
Financial liabilities at fair value under results
- - - - -
Derivatives
Financial liabilities at fair value under comprehensive income
- 14,914,691 - - 9,334,823 -
Derivatives - - - - -
7. Intangible assets
31.12.2010 31.12.2009
Intangible assets under construction 1,509,319 1,509,319
1,509,319 1,509,319
There were no changes in intangible assets in 2010.
8. Tangible fixed assets
31.12.2010 31.12.2009
Transportation equipment - -
Office equipment 28,017 44,999
Other tangible assets - -
28,017 44,999
Gross Assets 31.12.2009 Additions Sales and Transf. 31.12.2010
write-offs
Transportation equipment 102,072 - (72,073) - 29,999
Office equipment 305,789 - - - 305,789
Other tangible assets 1,058 - - - 1,058
408,919 - (72,073) - 336,846
In 2010, the Company ceded the contractual position of three vehicles.
Amortizations and Adjustments 31.12.2009 Appropriations Cancellation/ 31.12.2010
Reversal
Transportation equipment (102,072) - 72,073 (29,999)
Office equipment (260,790) (16,981) - (277,771)
Other tangible assets (1,058) - - (1,057)
(363,920) (16,981) 72,073 (308,827)