138.
INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
33.
FAIR VALUE OF ASSETS AND LIABILITIES
(a)
Fair value hierarchy
The Group measures non-financial assets, such as biological assets, at fair value at each reporting date.
The Group categories fair value measurements using a fair value hierarchy that is dependent on the valuation
inputs used as follows:
- Level 1 –
Quoted prices (unadjusted) in active market for identical assets or liabilities that the Group can
access at the measurement date,
- Level 2 –
Inputs other that quoted prices included within Level 1 that are observable for the asset or liability,
either directly or indirectly, and
- Level 3 –
Unobservable inputs for the asset or liability.
Fair value measurements that use inputs of different hierarchy levels are categorised in its entirety in the same
level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.
The following table provides the fair value hierarchy of the Group’s assets and liabilities in accordance with the
level of inputs to valuation techniques used to measure fair value:
Quoted prices in
active markets for
identical assets
(Level 1)
Significant other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Rp million
Rp million
Rp million
As at 31 December 2015
Recurring fair value measurements
Biological assets (Note 13)
–
–
15,878,940
As at 31 December 2014
Recurring fair value measurements
Biological assets (Note 13)
–
–
15,060,646
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group
determines whether transfers have occurred between Levels in the hierarchy by re-assessing categorisation
(based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each
reporting period.
There have been no transfers between Level 1 and Level 2, and into or out from Level 3 during the year. Other
fair value disclosures are made in the respective notes of the assets or liabilities.
