Annual Report 2012 - Ono
Annual Report 2012 - Ono
Annual Report 2012 - Ono
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The Figures<br />
GRUPO CORPORATIVO ONO, S.A. AND SUBSIDIARIES (ONO GROUP)<br />
NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEAR <strong>2012</strong> (Thousands of Euros)<br />
2.6. Foreign currency translation<br />
a) Functional and presentation currency<br />
The euro is the functional and presentation currency of the Parent Company. The consolidated annual accounts are presented in thousands<br />
of Euros, unless otherwise stated.<br />
b) Transactions and balances<br />
Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the<br />
transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end<br />
exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the income statement, except when<br />
deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses are presented in the income<br />
statement under the caption ‘Net financial result’.<br />
2.7. Property, plant and equipment<br />
The items of property, plant and equipment are recognised at their acquisition price or production cost, less accumulated depreciation and<br />
the cumulative amount of the recognised losses.<br />
ONO in <strong>2012</strong><br />
Who is ONO?<br />
What does ONO do?<br />
ONO’s<br />
Responsibility<br />
Financial analysis<br />
Corporate<br />
Governance <strong>Report</strong><br />
The Figures<br />
Annexes<br />
Contact<br />
Information<br />
The amount of work carried out by the Group for its own property, plant and equipment is calculated by adding the direct or indirect costs<br />
attributable to the assets to the acquisition price of the consumables.<br />
If applicable, the acquisition price includes the initial estimate of the costs associated to dismantling or removing the asset and the restoral<br />
of its location when, as a result of use of the asset, the Group is obliged to take said actions.<br />
The costs of expansion, modernisation or improvement of property, plant and equipment are included in the asset as an increase in its value<br />
only when they represent an increase in its capacity or productivity or a lengthening of its useful life, provided that it is possible to estimate<br />
the carrying amounts of the assets that are removed from the inventory because they have been replaced.<br />
Recurring repair and maintenance expenses are charged to the income statement in the year in which they are incurred.<br />
Depreciation of property, plant and equipment, except for land, which is not depreciated, is calculated systematically using the straight-line<br />
method over its estimated useful life, taking the impairment actually suffered due to operation, use and enjoyment into account.<br />
Print<br />
<strong>Report</strong><br />
The Figures<br />
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