b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)andnofutureeconomicbenefitisexpectedfrom e. Fair value measurement theirdisposal.Thedifferencebetweenthenetdisposal proceeds and the carrying amount of theTheGroupmeasuresfinancialinstrumentsassetisrecognizedinprofitorlossintheperiodof andnon-financialassets,atfairvalueateachderecognition. reportingdate.FairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaTheamountofconsiderationtobeincludedin liabilityinanorderlytransactionbetweenmarketthe gain or loss arising from the derecognition ofparticipantsatthemeasurementdate.Thefairinvestmentpropertyisdeterminedinaccordance valueofanassetoraliabilityismeasuredusingwiththerequirementsfordeterminingthe theassumptionsthatmarketparticipantswouldtransactionpriceinIFRS15Revenuefrom usewhenpricingtheassetorliability,assumingcontractswithcustomers. that market participants act in their economic Transfersaremadeto(orfrom)investment bestinterest.Afairvaluemeasurementofapropertyonlywhenthereisachangeinuse.non-financialassettakesintoaccountamarketIfowner-occupiedpropertybecomesan participantsabilitytogenerateeconomicbenefitsinvestmentproperty,theGroupaccountsforsuch fromtheassetshighestandbestuseorbysellingpropertyinaccordancewiththepolicystated ittoanothermarketparticipantthatwouldutilizeunderproperty,plantandequipmentuptothe theassetinitshighestandbestuse.TheGroupdate of change in use. usesvaluationtechniquesthatareappropriateinthecircumstancesandforwhichsufficientdataared. Current versus non-current classificationavailabletomeasurefairvalue,maximizingtheuseofrelevantobservableinputsandminimizingTheGrouppresentsassetsandliabilitiesinthe theuseofunobservableinputs.Allassetsandconsolidatedstatementoffinancialpositionbased liabilitiesforwhichfairvalueismeasuredoron current and non-current distinction. disclosedintheconsolidatedfinancialstatementsarecategorizedwithinthefairvaluehierarchy,Anassetiscurrentwhenitis: describedasfollows,basedonthelowestlevelinputthatissignificanttothefairvalue1.E xpectedtoberealizedorintendedtobesold measurementasawhole:orconsumedinthenormaloperatingcycle; Level1Quoted(unadjusted)marketpricesin2.H eldprimarilyforthepurposeoftrading; activemarketsforidenticalassetsorliabilities.3.E xpectedtoberealizedwithintwelvemonths L evel2Valuationtechniquesforwhichtheafterthereportingperiod,or lowestinputthatissignificanttothefairvaluemeasurementisdirectlyorindirectlyobservable.4.C ashorcashequivalentunlessrestrictedfrombeing exchanged or used to settle a liability forL evel3Valuationtechniquesforwhichtheatleasttwelvemonthsafterthereportingperiod. lowestlevelinputthatissignificanttothefairvaluemeasurementisunobservable.Allotherassetsareclassifiedasnon-current.ForassetsandliabilitiesthatarerecognizedintheAliabilityiscurrentwhen: consolidatedfinancialstatementsatfairvalueon1.It is expected to be settled in the normalarecurringbasis,theGroupdetermineswhetheroperatingcycle; transfershaveoccurredbetweenlevelsinthehierarchybyre-assessingcategorization(based2.Itisheldprimarilyforthepurposeoftrading; onthelowestlevelinputthatissignificanttothefairvaluemeasurementasawhole)attheendof3.Itisduetobesettledwithintwelvemonthsafter each reporting period.thereportingperiod,or f. Revenue from contracts with customers 4.Thereisnounconditionalrighttodeferthe Revenuefromcontractswithcustomersissettlementoftheliabilityforatleasttwelve recognizedwhencontrolofthegoodsorservicesmonthsafterthereportingperiod.TheGroup are transferred to the customer at an amount classifiesallotherliabilitiesasnon-current. thatreflectstheconsiderationtowhichtheGroupDeferredtaxassetsandliabilitiesareclassifiedas expects to be entitled in exchange for those goods non-current assets and liabilities. orservices.TheGrouphasgenerallyconcludedthatitistheprincipalinitsrevenuearrangements,becauseittypicallycontrolsthegoodsorservicesbefore transferring them to the customer.43'