b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)Anassetiscurrentwhenitis: levelinputthatissignificanttothefairvalue1.E xpectedtoberealizedorintendedtobesold measurementasawhole:orconsumedinthenormaloperatingcycle; L evel1Quoted(unadjusted)marketpricesin2.H eldprimarilyforthepurposeoftrading; activemarketsforidenticalassetsorliabilities.3.E xpectedtoberealizedwithintwelvemonths Level2Valuationtechniquesforwhichtheafterthereportingperiod,or lowestinputthatissignificanttothefairvaluemeasurementisdirectlyorindirectlyobservable.4.C ashorcashequivalentunlessrestrictedfrom L evel3Valuationtechniquesforwhichthebeingexchangedorusedtosettlealiabilityfor lowestlevelinputthatissignificanttothefairatleasttwelvemonthsafterthereportingperiod. valuemeasurementisunobservable.Allotherassetsareclassifiedasnon-current. ForassetsandliabilitiesthatarerecognizedintheAliabilityiscurrentwhen: consolidatedfinancialstatementsatfairvalueonarecurringbasis,theGroupdetermineswhether1.Itisexpectedtobesettledinthenormal transfershaveoccurredbetweenlevelsintheoperatingcycle; hierarchybyre-assessingcategorization(basedonthelowestlevelinputthatissignificanttothe2.Itisheldprimarilyforthepurposeoftrading; fairvaluemeasurementasawhole)attheendofeach reporting period.3.Itisduetobesettledwithintwelvemonthsafterthereportingperiod,or h. Revenue from contracts with customers 4.Thereisnounconditionalrighttodeferthe Revenuefromcontractswithcustomersissettlementoftheliabilityforatleasttwelve recognizedwhencontrolofthegoodsorservicesmonthsafterthereportingperiod.TheGroup are transferred to the customer at an amount classifiesallotherliabilitiesasnon-current. thatreflectstheconsiderationtowhichtheGroupexpectstobeentitledinexchangeforthosegoodsDeferredtaxassetsandliabilitiesareclassifiedas orservices.TheGrouphasgenerallyconcludednon-currentassetsandliabilities. thatitistheprincipalinitsrevenuearrangements,becauseittypicallycontrolsthegoodsorservicesg. Fair value measurement beforetransferringthemtothecustomer.TheGroupmeasuresfinancialinstruments Sale of oil products, thermal & hydro energy and andnon-financialassets,atfairvalueateach goldreportingdate.Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransfera Revenuefromthesaleofoilproductsisliabilityinanorderlytransactionbetweenmarket recognizedwhenthesignificantrisksandrewardsparticipantsatthemeasurementdate.Thefair ofownershiphavebeentransferred,whichisvalueofanassetoraliabilityismeasuredusing considered to occur when title passes to the theassumptionsthatmarketparticipantswould customer.Thisgenerallyoccurswhentheproductusewhenpricingtheassetorliability,assuming isphysicallytransferredintoavessel,pipeorotherthatmarketparticipantsactintheireconomic deliverymechanism.bestinterest.Afairvaluemeasurementofa Revenuesarerecordedfromthesalesofthermalnon-financialassettakesintoaccountamarket &hydroenergywhentheproductisdeliveredatparticipantsabilitytogenerateeconomicbenefits afixedordeterminableprice,titlehastransferred,fromtheassetshighestandbestuseorbyselling andcollectabilityisreasonablyassured.ittoanothermarketparticipantthatwouldutilizetheassetinitshighestandbestuse.TheGroup Salesbetweengroupcompanies,asdisclosedusesvaluationtechniquesthatareappropriatein insection3.1segmentinformation,arebasedthecircumstancesandforwhichsufficientdataare onpricesgenerallyequivalenttocommerciallyavailabletomeasurefairvalue,maximizingthe availableprices.useofrelevantobservableinputsandminimizingtheuseofunobservableinputs.Allassetsand TheGroupconsiderswhetherthereareotherliabilitiesforwhichfairvalueismeasuredor promises in the contract that are separate disclosedintheconsolidatedfinancialstatements performanceobligationstowhichaportionarecategorizedwithinthefairvaluehierarchy, ofthetransactionpriceneedstobeallocateddescribedasfollows,basedonthelowest (e.g.,warranties).Indeterminingthetransaction79'