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FINANCIAL STATEMENTS AND MANAGEMENT REPORT 2015
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.