Consolidated Financial Statements
2.8 FINANCIAL ASSETS
2.8.1 Classification
The group classifies its financial assets under
the following categories: financial assets at the
fair value through results, loans granted and ac-
counts receivable, investments held until matu-
rity and financial assets available for sale. The
investment is classified according to its purpose.
The Board of Directors decides on the classifica-
tion when the investments are initially recorded
and re-assesses that classification at each re-
port date.
a) Financial assets at the fair value through results
This category is subdivided into two parts: finan-
cial assets held for negotiation and those that
are designated at the fair value through results
from the start. A financial asset is classified in
this category if it is acquired for the main pur-
pose of being sold on the short term or if desig-
nated as such by the Board of Directors. Deriva-
tives are also classified as held for negotiation,
except if they are classified for hedging. Assets
in this category are classified as current if they
are held for negotiation or are realisable within
12 months after the consolidated statement of
financial position date.
b) Loans granted and accounts
Loans granted and other credits are non-deriv-
ative financial assets with fixed or determinable
payments and that are not listed on an active
market. These assets originate when the group
supplies cash, goods or services directly to a
debtor, without intending to negotiate the time
at which it will receive payment for the said cash
goods or services. They are included in current
assets, except when they mature in more than 12
months after the consolidated statement of fi-
nancial position date, in which case they are clas-
sified as non-current assets.
c) Investimentos detidos até à maturidade
Investments held until maturity is non-derivative
financial assets with fixed or determinable pay-
ments and fixed maturities, which the group’s
Board of Directors has the intention and capac-
ity to maintain until maturity. These investments
are included in non-current assets, except those
falling due within 12 months as of the consoli-
dated statement of financial position date, which
are classified as current assets.
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