63 Jahresbericht - 2024 For technical equipment purchased before 2019, the expected useful life is defined in line with the duration of the lease agreement currently ending as of 30 September 2021, with the exception of the long term investments Reverse Flow and Obergesteln which are depreciated until 30 September 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 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 Useful lives are established as follows and are reviewed each year: Tangible fixed assets Installation and furniture Vehicles and IT equipments 1-3 years 1-3 years If there is any evidence of an overstatement, the accounting values are reviewed and adjusted where necessary. Intangible assets consist of software of the Company and CO2 certificates. Software is recorded at acquisition cost, reduced by the cumulated straight-line depreciation, determined according to their expected useful life. Under the CO2 act, Transitgas AG is required to participate in the Swiss emissions trading system (CH-EHS) and to monitor and report its yearly emissions.The CHEHS is set up under the ‘cap-and-trade’ principle. Each year a certain amount of emission allowances are allocated free of charge to the respective companies participating. These allowances are limited and determined in advance by an absolute emissions limit (cap). If an company is not able to fully offset its obligations with freely allocated emission allowances it needs to acquire these through the CH-EHS. Free emission allowances allocated by the Swiss Federal Office for the Environment (BAFU) are initially recorded at their nominal value (zero). Intangible fixed assets
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