p) Employee benefits
Share-based compensation and cash incentive plans
The Group operates long-term incentive plans that are accounted for as equity-settled share-based compensation
plans. The fair value of these incentive plans is determined at the grant date and is recognized as an expense in income
over the vesting period, with a corresponding increase recorded in additional paid-in capital.
Subsequently, depending on the underlying performance metrics, the Group revises its estimates of the number of
shares that are expected to be issued and recognizes the impact of the revision, if any, in income with a corresponding
adjustment to additional paid-in capital. However, no subsequent adjustment to additional paid-in capital is made
after the vesting date.
Retirement benefits
Contributions to defined contribution plans are recorded as an expense in the period in which the economic benefit
from the employees’ service was received.