Central North Airport Group | CIK:0001378239 | 3

  • Filed: 4/30/2018
  • Entity registrant name: Central North Airport Group (CIK: 0001378239)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1378239/000155837018003456/0001558370-18-003456-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1378239/000155837018003456/omab-20171231.xml
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  • ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory

    d.Property, leasehold improvements and equipment, net

     

    Expenditures for property, leasehold improvements and equipment acquired are carried at acquisition cost. Depreciation is recognized so as to write off the cost or deemed cost of assets (other than freehold land and properties under construction). Depreciation of property, leasehold improvements and equipment is calculated using the straight-line method over the useful life of the asset, taking into consideration the related asset’s residual value. Depreciation begins in the month in which the asset is placed in service. The useful lives of assets are as follows:

     

     

     

     

     

        

    Useful

     

     

    Life (years)

    Improvement in leased assets

     

    20

    Machinery and equipment

     

    10

    Furniture and office equipment

     

    10

    Transportation equipment

     

    4

    Computer equipment

     

    3.3

     

    The depreciation of property, leasehold improvements and equipment is recorded in results.

     

    Disposal of assets

     

    The gain or loss on the sale or retirement of an item of property and equipment is calculated as the difference between the proceeds from the sale and the carrying value of the asset and is recognized in income when all risks and rewards of ownership of the asset is transferred to the buyer, which generally occurs when ownership of the asset is transferred to the buyer.

     

    Replacements or renewals of a component of property or equipment that extend the useful life of the asset, or its economic capacity, are recognized as an increase to property and equipment, with the subsequent write-off or derecognition of the assets replaced or renewed.

     

    Construction in progress for leasehold improvement

     

    Construction in progress for leasehold improvement is carried at cost less any recognized impairment loss. Cost includes professional fees and, in the case of qualifying assets, borrowing costs capitalized in accordance with the Company’s accounting policy. Such properties are transferred to the appropriate categories of property and equipment when completed and ready for intended use. The depreciation of these assets, as well as other properties, begins when the assets are ready for use.

     

    Subsequent costs

     

    Subsequent costs form part of the value of the asset or are recognized as a separate asset only when it is probable that such disbursement represents an increase in productivity, capacity, efficiency or an extension of the life of the asset, and the cost of the item can be determined reliably. All other expenses, including repairs and maintenance, are recognized in comprehensive income as incurred.