The new standards require all remeasurements
to be recognized directly in net assets in the period they occur.
National Grid on Thursday also reported annual results, showing a 31% drop in pretax profit to GBP1.84 billion, with revenue down 2.1% to GBP14.93 billion.The fall in profit was in part due to a 2.6% increase in operating costs and GBP648 million in exceptional items and remeasurements
. Peer Centrica, which owns British Gas, on Monday said it had met expectations in the first four months of 2019 despite a number of headwinds.The new UK tariff cap has led to a GBP70 million hit, with warmer than normal weather, falling natural gas prices, and outages at two nuclear power plants also impacting performance.
Before we removed the levator complex, which contains the levator aponeurosis and the Muller muscle, we recalculated the amount of the complex needed for removal using remeasurements
after releasing the adhesion in combination with the preoperative measurement.
However, profit before tax was down 5.0% to PS171m due to the groups' oneoff gain on remeasurements
of PS13m in the previous year.
are recognised outside of profit or loss in other comprehensive income (except for decreases in value below cost).
The group reported a record operating profit before special items and remeasurements
of $11.1 billion, up 14 percent on the year before.
However, valuation adjustments, expensive impairment testing and other remeasurements
are often backed out by private company users as irrelevant in their analysis of financial results.
* Accruals, systematic allocations, and other changes that aren't remeasurements
(e.g., depreciation, capital expenditures, noncash interest expense).
It said it expects operating profit before exceptionals and remeasurements
to be in line with last year's figure of about pounds 1.1 billion.
The reduction to profitability was also in part due to GBP648 million taken in respect of exceptional items and remeasurements