/ 1 4 8
NOTES TO THE FINANCIAL STATEMENTS
C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
21.
Determination of fair values of investment properties (Cont’d)
Fair value hierarchy
The table below analyses recurring non-financial assets carried at fair value. The different levels have been
defined as follows:
•
Level 1:
quoted prices (unadjusted) in active markets for identical assets and liabilities that the
Group can access at the measurement date;
•
Level 2:
inputs other than 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.
If the inputs used to measure the fair value of an asset or a liability are categorised in different levels of the fair
value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value
hierarchy as the lowest level input that is significant to entire measurement (with Level 3 being the lowest).
The Group recognises any transfers between levels of the fair value hierarchy as of the end of the reporting
period during which the transfer has occurred. There were no such transfers during the current and previous year.
The table below analyses non-financial assets carried at fair value.
Level 3
Group
$’000
31 December 2015
Investment properties (including investment properties held for divestment)
1,418,000
31 December 2014
Investment properties (including investment properties held for divestment)
1,346,880
Trust
31 December 2015
Investment properties (including investment properties held for divestment)
1,379,700
31 December 2014
Investment properties (including investment properties held for divestment)
1,346,880
