DMIT_Annual_Report_2018_EN

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 62 14. Fair values of land and buildings An independent valuation of the Group’s land and buildings recognised as investment property in the consolidated statement of financial position was performed by valuers to determine the fair value of the land and buildings as at 31 December 2018 and 2017. The revaluation surplus net of applicable deferred income taxes was debited or credited to the consolidated statement of income for assets recorded as investment property. The following table analyses the non-financial assets carried at fair value, by valuation method. The different levels have been defined as follows: (a) Land and buildings in Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities. (b) Land and buildings in Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly (that is, as prices) or indirectly (that is, derived from prices). (c) Land and buildings in Level 3 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). Recurring fair value measurements At 31 December 2018 Significant unobservable input (Level 3) Total Land 258,490 258,490 Office buildings 43,565 43,565 Other 135,322 135,322 437,377 437,377 At 31 December 2017 Land 267,347 267,347 Office buildings 48,822 48,822 Other 209,891 209,891 526,060 526,060