88 / 198
FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
average number of ordinary shares outstanding by assuming conversion
into ordinary shares of all dilutive instruments outstanding.
Treasury shares deducted from consolidated equity are not taken into
account in the calculation of basic or diluted earnings per share.
The Group’s dilutive instruments are as follows:
●
Ornane bonds (the issuer can choose to settle the debt component
and the embedded derivative either in cash or in new and/or existing
shares);
●
Odirnane bonds (the issuer can choose to settle the equity instrument
either in cash or in new and/or existing shares);
●
free shares.
Dilutive instruments are only taken into account if their dilutive impact
reduces earnings per share or increases loss per share. In accordance
with IAS 33, if diluted earnings per share is higher than basic earnings
per share it is considered to be non-representative and is reduced to
the same amount as basic earnings per share.
Assets held for sale and discontinued operations
A non-current asset (or disposal group) is classified as held for sale if its
carrying amount will be recovered principally through a sale transaction
rather than through continuing use. This is considered to be the case
when (i) the asset (or disposal group) is available for immediate sale
in its present condition; and (ii) its sale is highly probable. When such
an asset or disposal group represents a material amount it is presented
separately from other assets or groups of assets. Assets classified as
held for sale are measured at the lower of carrying amount and fair
value less costs to sell.
A discontinued operation is defined as a significant component of an
entity (with a “component of an entity” comprising operations and cash
flows that can be clearly distinguished, operationally and for financial
reporting purposes, from the rest of the entity) that has either been
disposed of, or is classified as held for sale and which:
●
represents a separate major line of business or geographical area
of operations;
●
is part of a single coordinated plan to dispose of a separate major
line of business or geographical area of operations; or
●
is a subsidiary acquired exclusively with a view to resale.
Income statement and cash flow items of discontinued operations are
presented separately for all of the periods disclosed in these financial
statements when they represent material amounts.
ASSYSTEM
FINANCIAL REPORT
2015
88