EFTA01367204.pdf

Amendment #4 Page 775 of 868 4.15.2 Deterred Income tax Deterred income tax is determned by applying the iiatday rretrod to all temporary Offerers:es eosbrg between the asset, liability, and ret Kash tax tare and the annuls recorded for Mandel plena as of the date d the statement of !dented potion Deferred 'num - tax is caktfated using me tax rate expected to apply on the penod when the asset s realized or the liable/ is soiled Deterred tax Saes are recognized only when here is reasonable prObadhly of tree realization The carrying amount of deferred income tax assets is reviewed on the obis of the statement of financol position and reduced to the extent that 4 is no togs, prohibit that sufficient taxable inborre wit be available to now all or part of the deferred incOMO tax asset to to utilized Likewise, on the dosing date of each toenail period, the Company reassesses the unce0SgriZed deferred tea °Saida to the anent date is protobee that future taxable ncome will alb,* the deferred tax assets to Ce recstvered Deferred taxes related to items cf other corngehensve income are recognized directly in those items and rot rn the results of the paned 4.15.3 Sales tax Revenue from sales is recorded by the Company net of saes tax, and a labilty is recognized in the statement of financial position for the related sales tax amount Expenses and assets acquired are recorded by the Company net of sales tax if the tax authonnes credit these taxes to the Company, recognizing the accumJated amount receivable in the staterrert of financial positon When the sales tax rotated is not recoverable the Company ncALdes withn the expense or asset. as applicable 4.16 Operating leases The Company holds certain proctdotwe assets under lease agreements with third parties. Leases in which the Company, as lessee, does not substantially retain all mks and benefits incidental to asset ownershp are considered operating leases Payments on these leases, according to rates established n the respective cortracts are recognized as expenses over the lease term 4.17 Significant accounting Judgments, estimates, and asstanptions Franc:el statement preparation requires management to make Juigrrents estimates and assumption affettng reported amounts of revenue, expenses, assets and bab bles. and to disclose cceengeM ketones as of the reponng date. However, uncertarty about these assuntore and estimates could rests n outcomes that require a material adgetrrent to the carrying amount of the asset or latalay affected in future periods 4.17.1 Judgments In appying the Company s aocourtng colons, management has used the following rydgment apart from those implied in to estimates, which has a significant effect on the amounts recognized n the frencral statements Classification of derivative financial insfrumenb (interest fate swaps and caps) as cash flow hedges The Company has classded as denvalwe financial instruments as cash l;ow hedges are has adopted nedge accounting under the assumption that the hedge relabonshp Is highly effective F455 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-0058732 CONFIDENTIAL SDNY_GM_00204916 EFTA01367204