b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)innetinterestonthenetdefinedbenefit Investment in Joint Ventureliability),arerecognizedimmediatelyintheconsolidatedstatementoffinancialpositionwitha Judgmentisrequiredtodeterminewhenthecorresponding debit or credit to retained earningsGrouphasjointcontroloveranarrangement,throughOCIintheperiodinwhichtheyoccur. whichrequiresanassessmentoftherelevantRe-measurementsarenotreclassifiedtoprofitor activitiesandwhenthedecisionsinrelationtolossinsubsequentperiods.Inaddition,theGroup thoseactivitiesrequireunanimousconsent.operatesotherlong-termemployeebenefitplans, TheGrouphasdeterminedthattherelevantofwhichthere-measurementsarerecognized activitiesforitsjointarrangementsarethoseintheprofitorloss.Furthermore,forboththe relating to the operating and capital decisions of definedbenefitpensionplansandtheotherlong- thearrangement,includingtheapprovalofthetermemployeebenefitplanspastservicecosts annualcapitalandoperatingexpenditureworkarerecognizedinprofitorlossontheearlierof: programandbudgetforthejointarrangement,andtheapprovalofchosenserviceprovidersThedateoftheplanamendmentorcurtailment foranymajorcapitalexpenditureasrequiredbythejointoperatingagreementsapplicabletotheAnd entitysjointarrangements.TheconsiderationsThedateonwhichtheGrouprecognizesrelated madeindeterminingjointcontrolaresimilarrestructuring costs tothosenecessarytodeterminecontroloversubsidiaries,assetoutinSection2.3b.JudgmentNet interest is calculated by applying the discountisalsorequiredtoclassifyajointarrangement.ratetothenetdefinedbenefitliabilityorasset.The ClassifyingthearrangementrequirestheGrouptoGrouprecognizesthefollowingchangesinthe assess their rights and obligations arising from the netdefinedbenefitobligationundercostofsales, arrangement.Specifically,theGroupconsiders:generalandadministrativeexpensesandselling Thestructureofthejointarrangementwhetheritanddistributionexpensesintheconsolidated statementofprofitorloss(byfunction): isstructuredthroughaseparatevehicleWhenthearrangementisstructuredthroughaServicecostscomprisingcurrentserviceseparatevehicle,theGroupalsoconsidersthecosts,past-servicecosts,gainsandlosseson rightsandobligationsarisingfrom:curtailments and non-routine settlements.Net interest expense or income. Thelegalformoftheseparatevehicle T hetermsofthecontractualarrangement O therfactsandcircumstances,consideredon2.4 SIGNIFICANT ACCOUNTING JUDGMENTS,a case by case basisESTIMATES AND ASSUMPTIONS ThisassessmentoftenrequiressignificantThepreparationoftheGroupsconsolidated judgment.Adifferentconclusionaboutbothfinancialstatementsrequiresmanagementtomake jointcontrolandwhetherthearrangementisajudgments,estimatesandassumptionsthataffect jointoperationorajointventure,maymateriallythereportedamountsofrevenues,expenses, impact the accounting treatment.assetsandliabilities,andtheaccompanyingdisclosures,andthedisclosureofcontingent Revenue from contracts with customersliabilities. Uncertainty about these assumptions andTheGroupappliedthefollowingjudgementsestimatescouldresultinoutcomesthatrequirea thatsignificantlyaffectthedeterminationofthematerialadjustmenttothecarryingamountofasset amountandtimingofrevenuefromcontractswithor liability affected in future periods. customers:JudgmentsI dentifying performance obligations in a bundled IntheprocessofapplyingtheGroupsaccounting saleofoilproductsandtransportationservicespolicies,managementhasmadethefollowing Insomecases,theGroupprovidestransportationjudgments,whichhavethemostsignificanteffect servicesaspartofcontractswithcustomerswhenontheamountsrecognizedintheconsolidated providingoilproducts.TheGroupdeterminedfinancialstatements: thattransportationservicesarenotconsideredadistinctperformanceobligationsincethisserviceto the customer is not considered to be separately 55'