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Moncler Group | Annual Report 2024 Consolidated Financial Statements 352  | 

2.3 Business combinations

Business combinations are accounted under the acquisition method.

Under this method, the identif iable assets acquired

and

the liabilities assumed are measured initially

at their

acquisition-date fair values. The costs incurred

in a business

combination are accounted as expenses in the periods in

which the services are rendered.

Goodwill is determined as the excess of the aggregate

of the considerations transferred, of any non-controlling

interests and, in a business combination achieved in stages,

the fair value of previously held equity interest in the

acquiree compared to the net amounts of fair value of assets

transferred and liabilities assumed at the acquisition date.

If the fair value of the net assets acquired is greater than

the acquisition cost, the dif ference is recognised directly in

the statement of income at the acquisition date. Non-controlling

interests could be measured either at their fair value at the

acquisition date or at the non-controlling interests’ proportionate

share of the identif iable net assets. The election of either method

is done for each single business combination.

If the initial accounting for a business combination is

incomplete by the end of the reporting period in which

the combination occurred, the Group shall report in the f inancial

statements provisional amounts for the items for which

the accounting is incomplete. During the measurement period,

that shall not exceed one year from the acquisition date,

the provisional amounts are retrospectively adjusted to ref lect

new information obtained about facts and circumstances that

existed at the acquisition date and, if known, would have af fected

the measurement of assets and liabilities recognised at that date.

2.4 Non-current assets available

for sale and discontinued operations

Non-current assets available for sale and discontinued

operations are classif ied as available for sale when their values

are recoverable mainly through a probable sale transaction.

In such conditions they are valued at the lower of their carrying

value or fair value net of cost to sell if their value is mainly

recoverable through a sale transaction instead of continued use

Discontinued operations are operations that

include a separate line of business or a dif ferent

geographical area

are part of a single coordinated plan for the disposal

of a separate major line of business or geographical

area of activity

consist of subsidiaries acquired exclusively for the purpose

of being sold

In the consolidated income statement, non-current assets

held for sale and disposal groups that meet the requirements

of IFRS 5 to be def ined as “discontinued operations", are

presented in a single caption that includes both gains and losses,

as well as losses or gains on disposal and the related tax ef fect.

The comparative period is subsequently restated in accordance

with IFRS 5.

As far as the f inancial position is concerned, non-current

assets held for sale and disposal groups that meet the

requirements of IFRS 5 are reclassif ied as current assets

and liabilities in the period in which such requirements

arise. The comparative f inancial statements are not restated

or reclassif ied.

2.5 Property, plant and equipment

Property, plant and equipment are stated at acquisition or

manufacturing cost, not revalued net of accumulated depreciation

and impairment losses (“impairment"). Cost includes original

purchase price and all costs directly attributable to bringing

the asset to its working condition for its intended use.

Depreciation

Depreciation of property, plant and equipment is calculated

and recognised in the consolidated income statement

on a straight-line basis over the estimated useful lives as reported

in the following table:

Leased assets are depreciated over the shorter of the lease term

and their useful lives unless it is reasonably certain that the Group

will take ownership of the asset by the end of the lease term

Depreciation period is reviewed at each reporting period

and adjusted if appropriate

CATEGORY DEPRECIATION PERIOD

Land No depreciation

Buildings From 10 to 33 years

Plant and equipment From 6 to 12 years

Fixtures and f ittings From 5 to 10 years

Electronic machinery and equipment From 3 to 5 years

Leasehold improvements Useful life of improvements

Rights of use Lease period

Other f ixed assets Depending on market conditions

generally within the expected utility

to the entity

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