62 Jahresbericht - 2024 Monetary assets and liabilities in foreign currencies are converted into the currency in which the Company operates at the exchange rate on the balance sheet date. Any profits or losses resulting from the exchange are recorded in the profit and loss account. Non-monetary assets and liabilities at historical costs are converted at the foreign exchange rate at the time of the transaction. For long-term receivables and payables: any foreign exchange profits are deferred in the balance sheet as not having an effect on net income. Foreign exchange losses, on the other hand, are recorded in the profit and loss account. Related parties include members of the Board of Directors and Transitgas AG shareholders. Transactions with related parties take place under proper market conditions (dealing at an arm’s length). Related parties The cash item includes cash holdings, bank deposits and fixed deposits due within 90 days after the balance sheet date. Cash Trade receivables are recorded at their original net invoice amount. Value adjustments are carried out for receivables for which specific risks have been identified. Trade receivables Inventories are fully expensed in direct expenses (at acquisition cost). Inventories 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. Technical equipment
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