b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)Corporate & Other fixed assets (i) Financial assetsLand and freehold estates are not depreciated.Initial recognition and measurementOtherpropertiesoutsidetheproductionfieldarebeingamortizedonastraight-linebasis.The Financialassetsareclassified,atinitialannualdepreciationpercentagesareasfollows; recognition,asamortizedcost,fairvaluethroughwhereapplicablearesidualvalueistakeninto othercomprehensiveincome(OCI),andfairvalueconsideration. throughprofitorloss.TheclassificationoffinancialassetsatinitialAsset Category PercentagerecognitiondependsonthefinancialassetsBuilding hall 10% contractualcashflowcharacteristicsandtheGroupsbusinessmodelformanagingthem.Telecommunicationequipment 20% Exceptfortradereceivables,forwhichtheGroupDockTLF 4% hasappliedthepracticalexpedient,theGroupOiltanker 10% initiallymeasuresafinancialassetatitsfairvalueplus,inthecaseofafinancialassetnotatfairDrilling machinery 20% valuethroughprofitorloss,transactioncosts.Heavyequipment 20% TradereceivablesforwhichtheGrouphasapplied the practical expedient are measured at Transportationequipment 33.33% the transaction price determined under IFRS 15. Refertotheaccountingpoliciesinsection2.3(h)Anitemofproperty,plantandequipmentis Revenuefromcontractswithcustomers.derecognizedupondisposalorwhennofuture Forafinancialassettobeclassifiedandmeasuredeconomicbenefitsareexpectedfromitsuseor atamortizedcostorfairvaluethroughOCI,itdisposal. Any gain or loss arising on derecognitionneedstogiverisetocashflowsthataresolelyoftheasset(calculatedasthedifferencebetween paymentsofprincipalandinterest(SPPI)onthethe net disposal proceeds and the carrying amountprincipalamountoutstanding.Thisassessmentisoftheasset)isincludedintheconsolidated referredtoastheSPPItestandisperformedatanstatementofprofitorlosswhentheassetis instrumentlevel.derecognized.Theresidualvalues,usefullivesandmethodsofdepreciationofproperty,plantand TheGroupsbusinessmodelformanagingequipmentarereviewedateachfinancialyearend financialassetsreferstohowitmanagesitsandadjustedprospectively,ifappropriate. financialassetsinordertogeneratecashflows.n. Borrowing costsThebusinessmodeldetermineswhethercashflowswillresultfromcollectingcontractualcashBorrowingcostsdirectlyattributabletothe flows,sellingthefinancialassets,orboth.acquisition,constructionorproductionofanasset Subsequent measurementthatnecessarilytakesasubstantialperiodoftime to get ready for its intended use or sale areForpurposesofsubsequentmeasurement,capitalizedaspartofthecostoftherespective financialassetsareclassifiedinfourcategories:asset.Allotherborrowingcostsareexpensedinthe period in which they occur. Borrowing costsFinancialassetsatamortizedcost(debtconsist of interest and other costs that an entityinstruments);incursinconnectionwiththeborrowingoffunds.Borrowing costs incurred on or after the dateF inancialassetsatfairvaluethroughOCIwithoftransitionforalleligiblequalifyingassetsare recyclingofcumulativegainsandlosses(debtcapitalized. instruments);o. Financial instrumentsinitial recognitionF inancialassetsdesignatedatfairvaluethroughand subsequent measurementOCIwithnorecyclingofcumulativegainsandAfinancialinstrumentisanycontractthatgives lossesuponderecognition(equityinstruments);risetoafinancialassetofoneentityandafinancial Financialassetsatfairvaluethroughprofitorloss.liabilityorequityinstrumentofanotherentity.85'