ANNUAL REPORT ‘12
NOTES TO THE FINANCIAL STATEMENTS
184
2.5_FOREIGN EXCHANGE CONVERSIONS
a) Operating currency
The elements included in the financial statements have been measured using the currency of the economic
environment in which the ANA Group operates (the euro).
b) Transactions and balances
Transactions in currencies other than the euro have been converted into the operational currency using the exchange
rates in effect on the date of the transaction.
The differences in exchange rates during the financial year, as well as those that were not realised, identified with
regard to the monetary assets and liabilities that existed on the date of the balance sheet, at the exchange rates in
effect on that date, have been included in the income statement.
Conversion differences in non-monetary elements, such as investments in associates, have been included under
reserves in equity.
The following exchange rates with regard to the Euro were used for the conversion of monetary assets and liabilities
in foreign currencies, which existed on the date of the balance sheet:
2.6_CONCESSION ASSETS
The concessions granted to the companies of the Group, ANA, S.A. and ANAM, S.A. include the following concession
assets.
2.6.1_Fixed tangible assets
The fixed tangible assests include the State property and company assets acquired by the Group, which are not
eligible for recognition as Concession Right, as they do not meet the criteria of IFRIC 12 (Note 2.6.2).
a) State property – includes all assets acquired by the Group companies that are implanted on lands in the public
domain;
b) Patrimony – includes all the other assets not attributable to the activities of providing public service that have
been acquired by Group companies.
Currency
2012
2011
USD
1.3194
1.2939
GBP
0.8161
0.8353
