b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)Rawmaterials: foranindividualasset,unlesstheassetdoesPurchasecostisvaluedonweightedaverage notgeneratecashinflowsthatarelargelymethod independent of those from other assets or groups ofassets.WherethecarryingamountofanFinishedgoodsandworkinprogress: assetorCGUexceedsitsrecoverableamount,theassetisconsideredimpairedandiswrittenCost includes cost of direct materials and labordowntoitsrecoverableamount.Inassessingandaproportionofmanufacturingoverheads valueinuse,theestimatedfuturecashflowsbased on normal operating capacity butarediscountedtotheirpresentvalueusingaexcludingborrowingcosts. pre-taxdiscountratethatreflectscurrentmarketassessmentsofthetimevalueofmoneyandInventoriesarestatedatthelowerofcostand therisksspecifictotheasset.Indeterminingnetrealizablevalue.Netrealizablevalueisthe fairvaluelesscostsofdisposal,recentmarketestimated selling price in the ordinary course oftransactions are taken into account. If no such business,lessestimatedcostsofcompletionand transactionscanbeidentified,anappropriatethe estimated costs to sell. valuationmodelisused.Thecostofcrudeoilandrefinedproductsisthe Impairment losses of continuing operations are purchasecost,thecostofrefining,includingthe recognizedintheconsolidatedstatementofprofitappropriateproportionofdepreciation,depletion or loss in those expense categories consistent andamortizationandoverheadsbasedonnormal withthefunctionoftheimpairedasset,exceptoperatingcapacity,determinedonaweighted forapropertypreviouslyrevaluedwheretheaveragebasis. revaluationwastakentoOCI.Inthiscase,theimpairmentisalsorecognizedinOCIuptotheThenetrealizablevalueofcrudeoilandrefined amountofanypreviousrevaluation.products is based on the estimated selling price inGoodwillistestedforimpairmentannuallytheordinarycourseofbusiness,lesstheestimated asatDecember31andwhencircumstancescosts of completion and the estimated costsindicatethatthecarryingvaluemaybeimpaired.necessary to make the sale. ImpairmentisdeterminedforgoodwillbyMaterialsandsuppliesarevaluedusingthe assessingtherecoverableamountofeachweightedaveragecostmethod. CGUtowhichthegoodwillrelates.WheretherecoverableamountoftheCGUislessPipeline fill thanitscarryingamount,animpairmentlossCrudeoil,whichisnecessarytobringapipeline isrecognized.Impairmentlossesrelatingtointoworkingorder,istreatedasapartofthe goodwillcannotbereversedinfutureperiods.relatedpipeline.Thisisonthebasisthatitis q. Cash and shortterm deposits not held for sale or consumed in a production process but is necessary to the operation of aCash and short-term deposits in the consolidated facilityduringmorethanoneoperatingcycle, statementoffinancialpositioncomprisecashatand its cost cannot be recouped through salebanksandonhandandshort-termdepositswith(orissignificantlyimpaired).Thisapplieseven amaturityofthreemonthsorless,whichareifthepartofinventorythatisdeemedtobean subjecttoaninsignificantriskofchangesinvalue.itemofproperty,plantandequipmentcannotbe Forthepurposeoftheconsolidatedstatementseparatedphysicallyfromtherestofinventory. cashflows,cashandcashequivalentsconsistofItisvaluedatcostandisdepreciatedoverthe cashandshort-termdepositsasdefinedabove,useful life of the related asset. netofoutstandingbankoverdraftsastheyareconsideredanintegralpartoftheGroupscashp. Impairment of non-financial assets management. TheGroupassessesateachreportingdate Restricted Cashwhetherthereisanindicationthatanassetmaybeimpaired.Ifanyindicationexists,or Restrictedcashisrequiredforfinancingpurposeswhenannualimpairmenttestingforanasset asthishasbeentherequirementofStaatsoliesisrequired,theGroupestimatestheassets financiers.Therestrictedaccountsareusedforrecoverableamount.Anassetsrecoverable international collections from our international amountisthehigherofanassetsorcash customerstodeposittheirpayments.Thegeneratingunits(CGU)fairvaluelesscostsof accountscontainathreemonthsworthofdebtdisposalanditsvalueinuse.Itisdetermined serviceandarefundedmonthly.Everythree53'