147
ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 2012
solidated statement of financial position, in current li-
abilities, in the Obtained Loans item.
2.12 Share capital
Ordinary shares are classified in equity.
Incremental costs directly attributable to the emission
of new shares or options are presented in equity as a
deduction, net of taxes, of entries.
When any group company acquires shares in the parent
company (own shares), the amount paid, including costs
directly attributable (net of taxes), is deducted from the
equity attributable to the shareholders of the parent
company until the shares are cancelled, re-issued or
sold. When those shares are subsequently sold or re-
issued and after deducting directly imputable transac-
tion costs and taxes, any receipt is included in the equity
of the company’s shareholders.
2.13 Loans obtained
Loans obtained are initially recognised at the fair value,
including incurred transaction costs. Medium and long
term loans are subsequently presented at cost minus
any amortisation; any difference between receipts (net
of transaction costs) and the amortised value is recog-
nised in the consolidated statement of comprehensive
income during the loan period, using the effective rate
method.
Loans obtained are classified in current liabilities, ex-
cept when the group is entitled to an unconditional
right to defer the liquidation of the liability for at least
12 months after the consolidated statement of financial
position date.
2.14 Deferred taxes
Deferred taxes are recognised overall, using the liability
method and calculated based on the temporary differ-
ences arising from the difference between the taxable
base of assets and liabilities and their values in the con-
solidated financial statements. However, if the deferred
cost arises from the initial recognition of an asset or li-
ability in a transaction that is not a corporate concen-
tration or that, on the transaction date, does not affect
the accounting result or the tax result, this amount is
not accounted. Deferred taxes are determined by the
tax (and legal) rates decreed or substantially decreed on
the date of the consolidated statement of financial po-
sition and that can be expected to be applicable in the
period of the deferred tax asset or in the liquidation of
the deferred tax liability.
Deferred tax assets are recognised insofar as it will be
probable that future taxable income will be available for
using the respective temporary difference.
2.15 Provisions
Provisions for costs of restructuring activities, paid con-
tracts and legal claims are recognised when the group
has a legal or constructive obligation due to past events
and when it is probable that a outflow of resources will
be necessary to liquidate the obligation, and when the
obligation amount may be reliably estimated. Provi-
sions for restructuring operations include penalties for
terminating leasing contracts and indemnity payments
for terminating employee work contracts. Provisions
are not recognised for future operating losses.
When there are a similar number of obligations, the
probability of generating an outflow is determined by
combining these obligations.
