Page 181 - Crisil Annual Report 2023

Financial Statements
Consolidated
2.6 TheconsolidatedfinancialstatementsrepresentconsolidationofaccountsoftheCompany,itssubsidiaries as detailed below:
Name of the entity
Country of incorporation
Ownership in % either directly or through subsidiaries
December 31, 2023
December 31, 2022
NA
NA
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
NA
100%
100%
100%
NA
100%
CRISIL Risk and Infrastructure Solutions Limited (refer to note 44.2)
Pragmatix Services Private Limited (refer to note 44.2) CRISIL Ratings Limited
CRISIL ESG Ratings & Analytics Limited (refer to note 44.5) Bridge To India Energy Private Limited (refer to note 44.3) CRISIL Irevna UK Limited
CRISIL Irevna US LLC
CRISIL Irevna Argentina S.A.
CRISIL Irevna Poland Sp.zo.o.
Coalition Development Limited
Coalition Development Singapore Pte Limited
CRISIL Irevna Information Technology (Hangzhou) Co., Ltd CRISIL Irevna Australia Pty Ltd
CRISIL Irevna Information Technology Colombia SAS Greenwich Associates LLC (refer to note 44.1)
Peter Lee Associates Pty. Limited (refer to note 44.4) Greenwich Associates Singapore PTE. LTD. Greenwich Associates Japan K.K.
Greenwich Associates Canada ULC (refer to note 44.7) Greenwich Associates UK Limited
2.7 Property, plant and equipment
Property, plant and equipment (PPE) are measured at cost less accumulated depreciation and impairment losses, if any. Amount capitalised under property, plant and equipment includes purchase price, duties and taxes, other incidental expenses incurred during the construction / installation stage. If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss on disposal of an item of property, plant and equipment is recognised in the statement of profit and loss.
2.8 Goodwill and other intangibles assets
Goodwill is not amortised but it is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity
India
India
India
India
India
United Kingdom United States of Argentina Poland
United Kingdom Singapore China
Australia Columbia United States of Australia Singapore Japan
Canada
United Kingdom
NA
NA 100% NA NA 100%
America 100% 100% 100% 100% 100% 100% 100%
NA America 100%
NA 100% 100% 100% 100%
include the carrying amount of goodwill relating to the entity sold.
Other intangible assets are carried at cost less accumulatedamortisationandimpairmentlosses,ifany. The cost of an intangible asset comprises of its purchase price, including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities), and any directly attributable expenditure on making the asset ready for its intended use. Intangible assets arising on acquisition of business are measured at fair value as at date of acquisition. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Group. The amortisation expense on intangible assets with finite life is recognised in the statement of profit and loss under the head ‘Depreciation and amortisation expenses’.
Expenditure on development eligible for capitalisation are carried as intangible assets under development where such assets are not yet ready for their intended use.
An intangible asset is derecognised upon disposal or when no future economic benefits are expected from its use. Gains or losses arising from derecognition of an intangible asset are measured as the difference between
Annual Report 2023 179