43. Assets held for sale

Only assets available for immediate sale in the current condition are classified as assets held for sale, provided that their sale is highly probable, i.e. the entity has decided to sell the asset and started to actively seek a buyer to complete the sale process. In addition, such assets are offered for sale at a price which is reasonable in view of their current fair value and it is expected that the sale will be completed within one year from the date of classification of the asset into this category.

These assets are recognized at the lower of their carrying amount and fair value less costs to sell. Impairment losses on non-current assets held for sale are recognized in the income statement for the period in which the losses were recognized. Assets classified to this category are not depreciated.

When the respective classification criteria to this category are no longer met, the Group reclassifies the asset from non-current assets held for sale to another category of assets (as appropriate). Assets reclassified from assets held for sale are measured at the lower of:

1. the carrying amount from before the moment of their classification to non- current assets held for sale, less amortization/depreciation that would have been recorded had the asset (or disposal group) not been classified as held for sale;
2. the recoverable amount as at the date of the decision to discontinue the sale.

• Useful lives – note “Administrative expenses”;
• Impairment losses – note “Net impairment losses on non-financial assets”