55 Useful lives are established as follows and are reviewed each year: Software 1-3 years CO2 Emission rights according to effective utilisation If there is any evidence of an overstatement, the accounting values are reviewed and adjusted where necessary. Land Land mainly relates to uncultivated land. It is recorded at acquisition cost and not depreciated. Accounting values are checked and adjusted where necessary. Provisions Provisions are liabilities of uncertain timing or amount. They are recognised when Transitgas AG has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Revenue recognition Income from lease fees represents the income of Transitgas AG during the year. Leasing transactions Leasing and rental contracts are accounted for in accordance with legal ownership. Expenses as a lessee or tenant are recorded correspondingly as expenditure in the relevant period.
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