Annual Report and Consolidated Account
014
163
In the consolidated statements of financial position,
of comprehensive income and of cash-flows Ibersol
chose not to put a third column with the values of
2013 not restated due to the small size of the jointly
controlled entity UQ Consult SA statements of ac-
counts.
2.2 CONSOLIDATION
(a) Subsidiaries
Shareholdings in companies in which the group di-
rectly or indirectly holds more than 50% of the voting
rights or has the power to control their financial and
operational activities (definition of control used by the
group) were included in these consolidated financial
statements through the full consolidation method.
Equity and net profit of these companies assigned to
third-party shareholdings are presented separately in
the “non-controlling interests” item in the consolidat-
ed statement of financial position and of comprehen-
sive income. The companies included in the financial
statements are listed in Note 5.
When losses impute to non-controlling interests ex-
ceed the non-controlling interest in a subsidiary com-
pany’s equity, the non-controlling interest absorb that
difference and any additional losses.
The purchase method is used to account the acqui-
sition of subsidiaries that occurred before 2010. The
acquisition cost corresponds to the fair value of the
delivered goods, capital issued instruments and li-
abilities incurred or assumed on the acquisition date.
The identifiable acquired assets and the liabilities and
contingent liabilities taken into account in a corporate
concentration will initially correspond to the fair value
on the acquisition date, regardless of whether there
are non-controlling interests. The positive difference
between the acquisition cost and the fair value of the
group’s stake in the acquired and identifiable net as-
sets is recorded as goodwill. If the acquisition cost is
less than the fair value of the acquired subsidiary’s net
assets, the difference is recognised directly in the con-
solidated statement of comprehensive income (see
Note 2.5).
For the acquisition of subsidiaries that occurred after
1 January 2010 the Group has applied reviewed IFRS
3. Accordingly to witch the purchase method contin-
ues to be applied in acquisitions, with some signifi-
cant changes:
Income statement
31/12/2013
31/12/2013 restated
Operating income
174.307.605
174.269.403
Operating costs
-167.855.823
-167.833.837
Net financing cost
-2.282.891
-2.262.818
Gains (losses) in joint controlled subsidiaries
-
-10.825
Income tax expense
-471.952
-464.984
Net profit
3.696.939
3.696.939
