Jahresbericht 2022

Trade receivables Trade receivables are recorded at their original net invoice amount. Value adjustments are carried out for receivables for which specific risks have been identified. Inventories Inventories are fully expensed in direct expenses (at acquisition cost). Technical equipment Technical equipment mainly refers to the gas pipeline with its related equipment and work in progress on technical equipment. They are recorded at acquisition cost, reduced by the cumulated straight-line depreciation, determined according to its expected useful life. For technical equipment purchased before 2019, the expected useful life was defined in line with the duration of the then valid lease agreement which ended as of September 30, 2021, with the exception of the long term investments Reverse Flow and Obergesteln which are depreciated until September 30, 2033. For technical equipment purchased from 2019 on, the expected useful life is defined according to the technical life of the assets (10 to 40 years). If there is any evidence of an overstatement, the accounting values are reviewed and adjusted where necessary. Tangible fixed assets Tangible assets mainly refer to installations, vehicles, office furniture and IT equipment. They are recorded at acquisition cost, reduced by the cumulated straight-line depreciation, determined according to their expected useful life. Useful lives are established as follows and are reviewed each year: Installation and furniture 1-3 years Vehicles and IT equipments 1-3 years If there is any evidence of an overstatement, the accounting values are reviewed and adjusted where necessary. 42 Finance

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