EFTA01367177.pdf

Amendment #4 Page 748 of 868 1:01.7 91.ccO•tt• 4.11 Operating leases The Company holds certain producirre assets under lease agreements with Thad parties. Leases n whch the Company, as lessee, does not substantially retain all risks and terefits incidental to asset ownership are considered operating leases Payments on these leases, according to rates eslatashed in Do respective contracts, are recogszed as expenses over tie ease term 4.12 Significant accounting estimates and assumptions cereal statement preparaton requres Management to make pelgeTereS, estimates and assumptions treeing reported amounts of revenue, expenses. eased and undoes and to disclose contngere satiates as Otte reporting date. However uroenainty soca mese assumptons and elm's*s coda result n outcomes that require an adjustment to the canyng amount of the asset or lability affected in Mute periods 6. Standards issued but not yet effective me standards and interpretations that are issued, DM rot yet effective. as of December 31. 2014 are disclosed below The Company intends to adopt these standards applicable to its activities, when they become effective. FRS 9 Financial instrumonts In July 2014. the IA38 issued the trial version of IFRS 9 Financial Instruments whorl reflects all doses of the nstrurrerts project and replaces IAS 39 Fnenciat instalments Recognition and MeaStrement and all previous versions cif IFRS 9 The standard maceices new requrements for cass4cation and menurement, rrpairment and hedge accountirg IFRS 9 is effective for annual periods beignnng on or alter January 1. 2018 with tarty app cation permitted Retrospective application required, bit comparative information is not compulsory. Early an:tabor, of devious versions ci IFRS 9 (2009 2010 and 2013) is permtled d the date ci nbal application is before Fel:query'', 2015. FRS 14 Regulatory DatongAccounts FRS 14 le an Optional standard that allows an entity, whose ectiveles are subject to rate-regulation to continue applying most d its existing =Owing policies for regulatory deferral account balances wan its arst•tene adeptiOn of IFRS IFRS 14 *effective for annual periods beginning on or after January 1, 2016 FRS 15 Revenue from Contracts SO Customers IFRS 15 was Issued in May 2014 and establishes a new fwe•sep model test we apply to revenue tonne from contracts with customers Under IFRS 15 revenue is rise:envied at an amount that relects the consideration to when an entity expects to be entitled in exchange for lraredemng goods or services to a customer The prinoples in IFRS 15 provide a more structured approach to measunrg and recogrszing revenue The new revenue standard Is applicable t0 all crams and will supersede all current revenue recogml on requirements under IFRS. Either a full or modified retcspeCtme apt:labor, n reaured to, annual periods beganng On or after January 1. 2017 with warty adoption permitted Arnsvalmonts to lAS 16 andIAS 38: Clarification of Acceptable Methods ofDepreciation and Amortization Irma amendments clang tre pnnciple n lAS 16 and IAS 38 trot revenue reflects a pattern of ecoromc tenefts that are generated from operating a busness (of when the asset is {art) rather than the acetonic benefits trot are consumed through use of the asset Asa result a revenue-based method cannot be used to deprecate F-428 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058705 CONFIDENTIAL SDNY GM_00204889 EFTA01367177