b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)andnofutureeconomicbenefitisexpectedfrom e. Fair value measurement theirdisposal.Thedifferencebetweenthenetdisposal proceeds and the carrying amount of theTheGroupmeasuresfinancialinstrumentsandassetisrecognizedinprofitorlossintheperiodof non-financialassets,atfairvalueateachbalancederecognition. sheet date. Fair value is the price that would be received to sell an asset or paid to transfer a Theamountofconsiderationtobeincludedin liability in an orderly transaction between market the gain or loss arising from the derecognition ofparticipantsatthemeasurementdate.Thefairinvestment property is determined in accordancevalue of an asset or a liability is measured using withtherequirementsfordeterminingthe the assumptions that market participants would transaction price in IFRS 15. usewhenpricingtheassetorliability,assumingTransfersaremadeto(orfrom)investment that market participants act in their economic property only when there is a change in use. Ifbest interest. A fair value measurement of a owner-occupiedpropertybecomesaninvestment non-financialassettakesintoaccountamarketproperty,theGroupaccountsforsuchpropertyin participantsabilitytogenerateeconomicbenefitsaccordancewiththepolicystatedunderproperty, fromtheassetshighestandbestuseorbysellingplantandequipmentuptothedateofchangein ittoanothermarketparticipantthatwouldutilizeuse. theassetinitshighestandbestuse.TheGroupusesvaluationtechniquesthatareappropriateind. Current versus non-current classificationthecircumstancesandforwhichsufficientdataareavailabletomeasurefairvalue,maximizingtheTheGrouppresentsassetsandliabilitiesinthe useofrelevantobservableinputsandminimizingstatementoffinancialpositionbasedoncurrent the use of unobservable inputs. All assets and andnon-currentdistinction. liabilities for which fair value is measured or disclosedintheconsolidatedfinancialstatementsAnassetiscurrentwhenitis: arecategorizedwithinthefairvaluehierarchy,describedasfollows,basedonthelowestExpectedtoberealizedorintendedtobesoldor levelinputthatissignificanttothefairvalueconsumed in the normal operating cycle; measurementasawhole:Held primarily for the purpose of trading; Level1Quoted(unadjusted)marketpricesinactive markets for identical assets or liabilities.Expectedtoberealizedwithintwelvemonthsafterthereportingperiod,or L evel2ValuationtechniquesforwhichthelowestinputthatissignificanttothefairvalueCashorcashequivalentunlessrestrictedfrom measurement is directly or indirectly observable. being exchanged or used to settle a liability for at least twelve months after the reporting period.L evel3ValuationtechniquesforwhichthelowestlevelinputthatissignificanttothefairAllotherassetsareclassifiedasnon-current. value measurement is unobservable. Aliabilityiscurrentwhen: ForassetsandliabilitiesthatarerecognizedintheIt is expected to be settled in the normalconsolidatedfinancialstatementsatfairvalueonoperating cycle; arecurringbasis,theGroupdetermineswhethertransfers have occurred between levels in theI t is held primarily for the purpose of trading; hierarchybyre-assessingcategorization(basedonthelowestlevelinputthatissignificanttotheIt is due to be settled within twelve months afterfair value measurement as a whole) at the end of thereportingperiod,or each reporting period.Thereisnounconditionalrighttodeferthesettlement of the liability for at least twelve monthsafterthereportingperiod.TheGroupclassifiesallotherliabilitiesasnon-current.Deferredtaxassetsandliabilitiesareclassifiedasnon-currentassetsandliabilities.37'