Estados Financieros, (Inglés, Español) - Túnel San Cristóbal

f) Depreciation
The main useful life periods used for depreciating property,
plant and equipment are presented below:
The fixed assets are depreciated on a straight line basis
throughout their economic useful life. The useful life of the
assets shall be revised annually to determine whether the
conditions that led to set their useful lives initially remain
the same or have changed.
g) Impairment of non-financial assets
Average Useful
Life in years
Office furniture 7
Office equipment 3
Computer equipment 6
Vehicles 7
Safety equipment 7
Third-party installations 4
Own Tag devices
Impairment in value is understood as the amount by which
the book value of an asset or cash generating unit exceeds
its recoverable amount.
The recoverable amount is the higher of the reasonable (fair)
value less than necessary cost to sell the same in the value of
use, with the latter being understood as the current value of
the future cash flows that said asset or cash generating unit
is estimated to generate.
Throughout the year and basically at year-end, an assessment
is made to see if any asset may have undergone a loss for
deterioration. If so, an estimation of the recoverable amount
of that asset is made to determine, as the case may be, the
amount of deterioration. For the case of identifiable assets
that do not generate cash flows in an independent manner,
the recoverability of the cash-generating unit is estimated,
5
with such being understood to be the smallest identifiable
group of assets generating independent cash earnings.
In the event that the recoverable amount less than the net
book value of the asset, the respective provision of loss
for deterioration is recorded for the difference, charged to
“Depreciation” in the income statement.
The losses for deterioration recognized for an asset in prior
years are reversed when a change occurs in the estimates
of the recoverable amount, escalating the value of the asset
with a credit to income with the limit being the book value
that the asset would have had if the accounting adjustment
had not been made.
The following procedure is used to determine the need to
make an adjustment for deterioration in the financial assets:
• For the case of those of a commercial origin, the company
has a defined policy for recording provisions for deterioration
on the basis of the age of the past due balance, which is
supported generally, except for those cases where there is a
particular feature rendering advisable to perform a specific
analysis of collection feasibility.
• For the case of balances receivable of a financial origin,
the need of deterioration is determined by way of a specific
case-by-case analysis. At the date of issue of these financial
statements, there are no significant past due financial assets
that are not of a commercial origin.
h) Financial leases
Lease in which all the risks are transferred substantially and
benefits inherent in the property qualify as financiers. Other
leases qualify like operative.
The quotas of operative lease are recognized as expense of
linear form during the term of the same one, except that
another systematic base of distribution should turn out to be
more representative.
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