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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
Related-party transactions
Related-party transactions are measured according to the valuation methods described above.
The prices of related-party transactions are adequately documented; hence the Company’s directors consider there to
be no risk of significant liabilities arising from these.
In mergers, the acquiree’s assets and liabilities are measured at the related amount in the Group’s consolidated financial
statements.
If no consolidated financial statements exist, or if the consolidated financial statements were prepared according to
IFRS, rather than Spanish GAAP, acquired assets are carried at the amount at which they are stated in the transferring
company’s separate financial statements.
Classification of current and non-current assets and liabilities
Assets and liabilities are classified in the balance sheet as current and non-current. Accordingly, assets and liabilities are
classified as current when they are associated with the Company’s operating cycle and it is expected that they will be
sold, consumed, realized or settled within the normal course of that cycle; if they differ from the aforementioned assets,
and are expected to mature, to be sold or settled within one year; if they are held for trading or are cash and cash
equivalents whose use is not restricted to one year.
Audiovisual rights, classified as intangible assets, are included in full as non-current assets. Note 6 details those which the
Company expects to use within a period of less than 12 months.
Environmental issues
In view of the business activities carried out by the Company, it does not have any environmental liability, expenses, assets,
provisions or contingencies that might be material with respect to its equity, financial position or results. Therefore, no
specific environmental disclosures have been included in these notes to the financial statements.
Termination benefits
In accordance with prevailing labor legislation, the Company is required to pay indemnities to employees who are dismissed
under certain circumstances. Reasonably quantifiable indemnity payments are recognized as an expense in the year in
which the Company creates a valid expectation on the part of the affected third parties that the dismissals will occur.
Regulations for application in forthcoming years
At the preparation date of the accompanying financial statements, ICAC resolution dated September 18, 2013 on
recognition and measurement standards as well as information to include in notes to the financial statements on the
impairment of assets had been published. It introduces modifications on estimating impairment, and is applicable for the
years beginning January 1, 2014 and beyond.
The Company has yet to assess the potential impact of its application on the 2014 financial statements; however, based
on the analysis performed to date, application of these standards should not be significant.
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