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
/,
,
.
.
.
“”.
,,
.
,
.
,
“”
();,
,.
.“
-".
.
.
.
.,
,
-.
(
)
,
.
.
:
.-
,.
,