IBERSOL Annual Report 2018

ANNUAL REPORT 2018 Also has been applied since 1 January 2010 the revised IAS 27, which requires that all transactions with the “non- controlling interest” are recorded in equity, when there is no change in control of the entity, there is no place to record goodwill or gains or losses. When there is a loss of control exercised over the entity, any remaining inter- est on the principal is measured at fair value, and a gain or loss is recognized in the results of the exercise. Balances and gains arising from transactions between group companies are elimi- nated. Losses not realised are also eliminated, except when the transaction reveals that a transferred asset is subject to impairment. The subsidiaries’ accounting poli- cies are altered whenever necessary to ensure consistence with the group’s policies. (b) Jointly controlled companies The financial statements of jointly controlled companies were included in these con- solidated financial statements by the equity method, under the adoption of IFRS 11, as of the date on which the joint control is acquired. According to this method, these companies’ assets, liabilities, income and costs were included in the annexed con- solidated financial statements in one line in the consolidated statement of financial position and in one line in the consolidated statements of comprehensive income. Transactions, balances and dividends paid among group companies and jointly con- trolled companies are not eliminated in the proportion of the control assigned to the group. The excess acquisition cost compared with the fair value of the identifiable assets and liabilities on the acquisition date of a jointly controlled company is recog- nised as a financial investment. Jointly controlled companies are listed in Note 5. 2.4 REPORT PER SEGMENT An operating segment is a component of an entity that engages in business activi- ties from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity) whose operating results are reviewed regularly by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its per- formance and for which separate financial information is available The group’s head office – which also hosts the largest operating company, is in Portu- gal. Its business activity is in the restaurant segment. The Group operates in three main business segments: - Restaurants, which includes the units with table service available offer and home delivery; - Counters, with sales over the counter; - Concessions and catering, which includes all other businesses, including the cater- ing activity and the units located in concession areas. 217