IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 12. OTHER NON-CURRENT ASSETS Other non-current assets breakdown is presented as follows: dec/2020 dec/2019 Other non-current assets (1) 7.743.025 8.164.336 Loans granted to third parties - 464.334 Impaired balances - -390.559 7.743.025 8.238.111 (1) balance of other non-current debtors is mainly comprised of deposits and securities in Spain resulting from lease agreements. Trade accounts receivable from other debtors are initially recognized at fair value and, in the case of medium and long-term debt, are subsequently measured at amortized cost using the ef- fective interest method, less impairment. Securities related to contracts with AENA, under precautionary measures (Notes 1 and 34), amounts to 4,854,936 Euros. In 2020, 2019 and 2018, a discount rate of 2% was applied, recognizing the current deferral in the amount of 228,532 Euros (Note 15) and noncurrent in the amount of 447,649 Euros. This update of Spain securities resulted in a loss in the amount of 8,283 Euros in 2018 and a gain in the amount of 15,397 Euros in 2019 (Note 27). 13. INVENTORIES As at 31 December 2020 and 2019, stocks were broken down as follows:: dec/ 2020 dec/ 2019 Raw material and consumables 11.309.509 11.701.304 Goods 367.487 388.663 11.676.996 12.089.967 Decreases -74.981 -74.981 Net inventories 11.602.015 12.014.986 The cost of inventories recognized in 2020 as an expense and included under “cost of sales” amounted to 73,729,378 Euros (2019: 117,329,396 Euros), as shown below: 365