Receivables Adaro Energy 2009 Annual Report English
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
h. Fixed assets and depreciation continued
The fixed assets of Adaro are depreciated using the straight-line method to their estimated residual value, over the lesser of the estimated useful lives of the assets, the life of the mine or the term of the CCA, stated as follows: Years Buildings 10 - 20 Machinery, operational equipment and vehicles 3 - 10 Office equipment 10 Crushing and handling facilities 13 - 30 Roads and bridges 13 - 30 Stockpile facilities 17 - 20 Dock facilities 20 Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the consolidated statement of income during the financial period in which they are incurred. The assets’ useful lives and residual values are reviewed, and adjusted if appropriate, at each balance sheet date. The effects of any revisions are recognised in the consolidated statement of income, prospectively. For assets which are no longer utilised or sold or surrendered to the Government, the carrying amounts are eliminated from the consolidated financial statements, and the resulting gains and losses on the disposal of fixed assets are recognised in the consolidated statement of income. The accumulated costs of the construction of buildings and plant and the installation of machinery are capitalised as construction in progress. These costs are reclassified to the fixed asset accounts when the construction or installation is completed. Depreciation is charged from that date. Interest and other borrowing costs, such as discount fees on loans either directly or indirectly used in financing the construction of a qualifying asset, are capitalised up to the date when construction is complete. For borrowings directly attributable to a qualifying asset, the amount to be capitalised is determined as the actual borrowing costs incurred during the year, less any income earned on the temporary investment of such borrowings. For borrowings that are not directly attributable to a qualifying asset, the amount to be capitalised is determined by applying a capitalisation rate to the amount expended on the qualifying asset. The capitalisation rate is the weighted-average of the borrowing costs applicable to the total borrowings outstanding during the period, excluding borrowings directly attributable to financing the qualifying asset under construction.i. Impairment of long-lived assets
At the balance sheet date, the Group undertakes a review to determine whether there is any indication of asset impairment. Fixed assets and other non-current assets are reviewed for impairment losses whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the carrying amount of the asset exceeds its recoverable amount, which is the higher of an asset’s net selling price or value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows. Reversal of impairment is recorded as income in the period when the reversal occurs.j. Deferred exploration and development expenditure
Exploration expenditure incurred is capitalised and carried forward, on an area of interest basis, provided one of the following conditions is met: i such costs are expected to be recouped through successful development and exploitation of the area of interest or, alternatively, by its sale; or ii exploration activities in the area of interest have not yet reached the stage which permits a reasonable assessment of the existence or otherwise of economically recoverable reserves, and active and significant operations in or in relation to the area of interest are continuing.Parts
» Adaro Energy 2009 Annual Report English
» Quick Ratio Adaro Energy 2009 Annual Report English
» 13.6 9.4 5.5 1.4 38.5 34.4 24.3 20.8 Adaro Energy 2009 Annual Report English
» Transportation Mt Adaro Energy 2009 Annual Report English
» 23.7 Adaro Energy 2009 Annual Report English
» 9.0 -9.4 7.6 -48 -22 Adaro Energy 2009 Annual Report English
» -57 -58 Adaro Energy 2009 Annual Report English
» 5 1 Adaro Energy 2009 Annual Report English
» Financial structure Adaro Energy 2009 Annual Report English
» International TOTAL Adaro Energy 2009 Annual Report English
» The Development of High Yield Rubber Plantations Micro Financing Institute
» Institute for Educational Potential Development of Adaro Partners LP3AP
» GENERAL continued Establishment of the Company and other information
» GENERAL continued Subsidiaries continued
» Scholarships Establishment of the Company and other information continued Subsidiaries continued
» GENERAL continued Coal Cooperation Agreement
» Cooperation Agreement Adaro Energy 2009 Annual Report English
» Barito Channel Cooperation Agreement
» Coal reserves Adaro Energy 2009 Annual Report English
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Basis of preparation of the consolidated financial statements
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Principles of consolidation continued
» Foreign currency translation Adaro Energy 2009 Annual Report English
» Receivables Adaro Energy 2009 Annual Report English
» Inventories Adaro Energy 2009 Annual Report English
» Investments in debt and equity securities continued
» Impairment of investment in equity and debt securities
» Fixed assets and depreciation continued
» Impairment of long-lived assets
» Deferred exploration and development expenditure continued
» Leases Adaro Energy 2009 Annual Report English
» Environmental obligations continued Adaro Energy 2009 Annual Report English
» Stripping costs Adaro Energy 2009 Annual Report English
» Deferred financing costs Adaro Energy 2009 Annual Report English
» Deferred expenses Adaro Energy 2009 Annual Report English
» Provision for employee benefits continued
» Taxation Adaro Energy 2009 Annual Report English
» Derivative financial instruments and hedging activities
» Earnings per share Adaro Energy 2009 Annual Report English
» Segment reporting continued Adaro Energy 2009 Annual Report English
» Dividends Adaro Energy 2009 Annual Report English
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued
» Acquisition of PT Alam Tri Abadi
» Acquisition of Rachmalta Investments Ltd by Rachpore Investments Pte Ltd continued
» Acquisition of Coronado Holdings Pte Ltd and Orchard Maritime Logistics Pte Ltd
» RESTRICTED CASH AND CASH EQUIVALENTS
» INVENTORIES Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» DEFERRED EXPLORATION AND DEVELOPMENT EXPENDITURE 2009
» FIXED ASSETS continued Construction in progress continued MINING PROPERTIES 2009
» GOODWILL 2009 Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» SHORT-TERM BANK LOANS continued Syndicated Short-term Loan
» LONG-TERM BANK LOANS continued b.
» SENIOR NOTES 2009 PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT continued b.
» ACCRUED STRIPPING COSTS 2009 MINORITY INTEREST a.
» MINORITY INTEREST continued a.
» SHARE CAPITAL ADDITIONAL PAID-IN CAPITAL 2009
» DIFFERENCE IN VALUE FROM RESTRUCTURING TRANSACTIONS OF ENTITIES UNDER COMMON CONTROL continued
» DIVIDENDS Minority interest in net incomeloss of subsidiaries
» APPROPRIATED RETAINED EARNINGS Minority interest in net incomeloss of subsidiaries
» REVENUE 2009 Minority interest in net incomeloss of subsidiaries
» COST OF REVENUE 2009 OPERATING EXPENSES a.
» OPERATING EXPENSES continued b.
» TAXATION a. Minority interest in net incomeloss of subsidiaries
» TAXATION continued b. Recoverable taxes
» TAXATION continued d. Income tax expense
» TAXATION continued e. Deferred tax assets
» Taxes payable Deferred tax liabilities
» Administration Adaro Energy 2009 Annual Report English
» TAXATION continued i. Tax assessment letter
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES
» Other receivables - related party
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued d.
» Trade payables to related parties Cost of revenue
» BASIC EARNINGS PER SHARE 2009
» MONETARY ASSETS AND LIABILITIES SEGMENT REPORTING
» SEGMENT REPORTING continued The nature of relationships with related parties
» SEGMENT REPORTING continued 2008 The nature of relationships with related parties
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued a.
» Interest expense Land-Use Cooperation Agreement
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued c.
» Royalty claim Adaro Energy 2009 Annual Report English
» Capital expenditures Adaro Energy 2009 Annual Report English
» Banking facility Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued h.
» Engineering, Procurement and Construction Agreement
» Agency fees Adaro Energy 2009 Annual Report English
» Customer Claims Adaro Energy 2009 Annual Report English
» Legal proceedings Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued n.
» Amortising Revolving Credit Facility
» Overland Conveyor Construction Contract
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