Annual Report and Consolidated Accounts 2015
2.11 CASH AND CASH EQUIVALENTS
Cash and cash equivalents include cash amounts,
bank deposits, other short term investments
with high liquidity and initial maturities of up to
3 months and bank overdrafts. Bank overdrafts
are presented in the consolidated statement of
financial position, in current liabilities, in the Ob-
tained 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 recognised in
the consolidated statement of comprehensive
income during the loan period, using the effec-
tive rate method.
Loans obtained are classified in current liabili-
ties, except when the group is entitled to an un-
conditional right to defer the liquidation of the
liability for at least 12 months after the consoli-
dated statement of financial position date.
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