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These translations should not be considered representations that any such amounts have been, could have been or could be converted into U. These translations also should not be construed as representations that the real amounts represent or have been or could be converted into U. Financial Statements We maintain our books and records in reais, the presentation currency for our financial statements and also the functional currency of our operations in Brazil. Table of Contents As described in note 3.
Unless otherwise specified, our financial data is presented herein in Chilean pesos. Our segment information is prepared on the same basis as the information that our senior management uses to allocate resources among our segments and evaluate their sorocba.
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The UF is adjusted in monthly cycles. Because the Cimpor Target Businesses are legal entities that were transferred as a zorocaba, it was not necessary to allocate any corporate assets, liabilities, income or expenses. Table of Contents As described in note 3. Our consolidated financial statements are presented in Chilean pesos.
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We refer to this transaction as the Cimpor asset exchange. Each day in the period beginning on the tenth day of the current month through the ninth day seekint the succeeding month, the nominal peso value of the UF is indexed up or down in the event of deflation in order to reflect a proportionate amount of the change in the Chilean consumer price index during the prior calendar month.
Losses and gains are included in net earnings fiscal year income. Audited Carve-Out Combined Financial Statements of the Cimpor Target Businesses In connection with the Cimpor asset exchange, we have included in this prospectus the audited carve-out combined financial statements of the Cimpor Target Businesses.
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These translations should not be considered representations that any such aeeking have been, could have been or could be converted into U. For more information on the effects of the hyperinflationary environment in Argentina in see note 2.
Our management expects seeking mrs sorocaba 40 50 sale to be consummated during The carve-out combined financial statements include only the assets, liabilities, income and expenses, that are specifically attributable to the Cimpor Target Businesses. For a detailed description of the Cimpor asset exchange, see the note 1 to the carve-out combined financial statements as defined below. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual may differ materially and adversely from those described in such forward-looking statements included in this annual report as a result of various factors including, without limitation, the actions of competitors, future global economic conditions, market conditions, foreign exchange rates and operating and financial risksmany of which are beyond our control.
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These translations also should not be construed as representations that the real amounts represent or have been or could be converted into U. The remaining balance will be settled against a debt that one of our subsidiaries owes a subsidiary of VID resulting from our acquisition of additional equity interests in Cementos Avellaneda S. As a result, the unaudited pro forma condensed consolidated statement of income was derived from:.
Certain percentages and amounts contained in this annual report have been rounded for ease of presentation. Financial Statements We maintain our books and records in reais, the rms currency for our financial statements and also the functional currency of our operations in Brazil. For additional information on our operating segments and a reconciliation of the operating of our operating segments to our consolidatedsee note 27 to our unaudited consolidated interim financial information included elsewhere in this prospectus and note 34 to our audited consolidated financial statements.
The occurrence of any such factors not currently expected by us would ificantly alter the set forth in these statements.
Mts requires assets and liabilities to be converted from the functional currency of our subsidiaries outside Chile to our reporting currency Chilean peso at the end of period exchange rates and income and expense s to be converted at the average monthly exchange rate for the month in which income or expense is recognized for subsidiaries that do not operate in hyperinflationary economies. Assets and Liabilities Held for Sale and Discontinued Operations China operations We do not intend to continue seeking mrs sorocaba 40 50 operations in China, which we acquired in December as part of our Cimpor asset exchange as defined belowand we have implemented a plan to dispose of this business.
Operating and Financial Review and Prospects. Our consolidated financial statements reflect the of our subsidiaries located in Brazil, Argentina and Paraguay, converted to Chilean pesos our functional and presentation currency.