Disclosure Of Material Accounting Policy Information [Text Block]
| Concept |
2024-01-01 to 2024-12-31 |
|---|---|
| Disclosure of material accounting policy information [text block] |
|
| Description of accounting policy for borrowing costs [text block] |
Borrowing costs that are directly attributable to investments are capitalized together with the costs of the assets in accordance with IAS 23. All borrowing costs that cannot be linked directly to an investment are recognized as expenses in the period when incurred.
|
| Description of accounting policy for borrowings [text block] |
|
| Description of accounting policy for decommissioning, restoration and rehabilitation provisions [text block] |
|
| Description of accounting policy for deferred income tax [text block] |
|
| Description of accounting policy for depreciation expense [text block] |
|
| Description of accounting policy for determining components of cash and cash equivalents [text block] |
|
| Description of accounting policy for discontinued operations [text block] |
IFRS 5 (Non-current Assets Held for Sale and Discontinued Operations) does not specify the treatment for the elimination of inter-company transactions between discontinued and continued operations. As an accounting policy Umicore opts not to eliminate the intercompany transactions within the income statement between the discontinued and continued operations. For the balance sheet presentation however, IFRS 10 (Consolidated Financial Statements) overrides IFRS 5 and requires all intercompany balances to be eliminated including those between the discontinued and continued operations.
|
| Description of accounting policy for discounts and rebates [text block] |
Some of the contracts do contain commercial discounts and rebates, however frequency is relatively low, and magnitude is not significant. If applicable, these are recognized in the same period the sale is established.
|
| Description of accounting policy for emission rights [text block] |
|
| Description of accounting policy for employee benefits [text block] |
|
| Description of accounting policy for environment related expense [text block] |
|
| Description of accounting policy for exceptional items [text block] |
|
| Description of accounting policy for expenses [text block] |
|
| Description of accounting policy for fair value measurement [text block] |
F25
|
| Description of accounting policy for functional currency [text block] |
|
| Description of accounting policy for goodwill [text block] |
|
| Description of accounting policy for government grants [text block] |
|
| Description of accounting policy for hedging [text block] |
|
| Description of accounting policy for impairment of financial assets [text block] |
|
| Description of accounting policy for impairment of non-financial assets [text block] |
|
| Description of accounting policy for issued capital [text block] |
|
| Description of accounting policy for leases [text block] |
|
| Description of accounting policy for measuring inventories [text block] |
|
| Description of accounting policy for intangible assets and goodwill [text block] |
|
| Description of accounting policy for investment in associates [text block] |
|
| Description of accounting policy for investments in joint ventures [text block] |
|
| Description of accounting policy for property, plant and equipment [text block] |
|
| Description of accounting policy for provisions [text block] |
|
| Description of accounting policy for recognition of revenue [text block] |
2.21.1
|
| Description of accounting policy for repairs and maintenance [text block] |
Repair and maintenance costs are expensed in the period in which they are incurred, if they do not increase the future economic benefits of the asset. Otherwise they are classified as separate components of items of property, plant and equipment. Those major components of items of property, plant and equipment that are replaced at regular intervals are accounted for as separate assets as they have useful lives different from those items of property, plant and equipment to which they relate.
|
| Description of accounting policy for segment reporting [text block] |
|
| Description of accounting policy for share-based payment transactions [text block] |
|
| Description of accounting policy for subsidiaries [text block] |
2.1.1
|
| Description of accounting policy for termination benefits [text block] |
|
| Description of accounting policy for trade and other payables [text block] |
|
| Description of accounting policy for trade and other receivables [text block] |
|
| Description of accounting policy for transactions with non-controlling interests [text block] |
|