IBERSOL Annual Report 2018

Consolidated Financial Statements dec. 2018 dec. 2017 Non-current financial assets 475.430 497.108 475.430 497.108 Accumulated impairment losses 264.000 264.000 211.430 233.108 (1) because it is not possible to reliably determine the fair value of the Change Partners, for prudence, the Company recorded an impairment loss equal to the purchase price. 11. OTHER FINANCIAL ASSETS The amount of financial assets refers to the acquisition of Angola treasury bonds (TB’s), resettable in accordance with the variation of the National Bank of Angola (BNA) exchange rate for the purchase of United States dollars, with rates interest coupon of default by maturity, as follows: dec/ 2018 dec/ 2017 Current Non current Total Current Non current Total Treasury bonds 4.040.342 16.509.280 20.549.622 5.162.755 17.823.906 22.986.661 Sub-total 4.040.342 16.509.280 20.549.622 5.162.755 17.823.906 22.986.661 Accumulated impairment losses (1) 184.967 755.795 940.762 - - - Total 3.855.375 15.753.485 19.608.860 5.162.755 17.823.906 22.986.661 (1) As a result of the mandatory implementation of IFRS 9 as from 1 January 2018 (Note 2.2.2), considering the type of OT that Ibersol holds, and since the were in- dexed to the USD, impairment was calculated, assuming the option in the transposi- tion by the modified retrospective approach, as follows: Impact on the consolidated statement of financial position: Impact on Other Reserves and Transited results (01 of January of 2018) 1.052.331 Deferred tax liabilities 282.229 Impact on the consolidated statement of comprehensive income: Net financing cost -111.569 Income tax 334.741 The Probability of Default indexes used and Loss Given Default are in accordance with the publication of Moody’s and S & P, about 7.63% (considering the rating of Republic of Angola) and 60%, respectively. 264