Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

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Summary of Estimated Useful Life of Property, Plant and Equipment

The depreciation of other assets that do not qualify as “Major equipment” is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives, as follows:

	Years
Buildings and facilities	Between 3 and 33
Machinery and equipment	Between 4 and 10
Vehicles	Between 2 and 10
Furniture and fixtures	Between 2 and 10
Other equipment	Between 2 and 10

Summary of Restatement of Statement of Income

	2017 Audited			Restatement GMD (i)			2017 Restated
Revenues		6,080,142			—			6,080,142
Operating costs		(5,407,355	)		—			(5,407,355	)
Gross profit (loss)		672,787			—			672,787
Administrative expenses		(429,181	)		—			(429,181	)
Other (expenses) income, net		(20,545	)		—			(20,545	)
Gain (loss) from the sale of investments		274,363			(218,264	)		56,099
Operating profit (loss)		497,424			(218,264	)		279,160
Financial expenses		(185,445	)		—			(185,445	)
Financial income		15,407			—			15,407
Share of the profit or loss in associates and joint ventures		1,327			—			1,327
Profit (loss) before income tax		328,713			(218,264	)		110,449
Income tax		(123,037	)		63,940			(59,097	)
Profit (loss) from continuing operations		205,676			(154,324	)		51,352
Profit from discontinued operations		3,562			154,324			157,886
Profit of the year		209,238						209,238
Earnings per share attributable to owners of the Company during the year		0.225						0.225
Loss per share from continuing operations attributable to owners of the Company during the year		0.220						(0.014	)

(i) In application of IAS 8 paragraph 42, line items affected of the Statement of Income are disclosed.