250 ADDITIONAL INFORMATION Minority interests  are that portion of the profit or loss and net  assets of a subsidiary attributable to equity interests that are not  owned, directly or indirectly through subsidiaries, by the parent. Monetary items  are units of currency held and assets and  liabilities to be received or paid in a fixed or determinable  number of units of currency. Onerous contracts  are contracts in which the unavoidable  costs of meeting the obligations under the contract exceed  the economic benefits expected to be received under it. Projected unit credit method  is an actuarial valuation method  that sees each period of service as giving rise to an additional  unit of benefit entitlement and measures each unit separately  to build up the final obligation. Qualifying insurance policies  are a component of plan assets.  These are insurance policies issued by an insurer that is not  a related party of the reporting entity, if the proceeds of the  policies: Operating expenses  are all expenses associated with selling  and administrative activities (excluding commissions) after  reallocation of claim handling expenses to benefits paid. Past service cost  is the increase in the present value of the  defined benefit obligation for employee service in prior periods,  resulting in the current period from the introduction of, or  changes to, post-employment benefits. Real estate investments foreclosed  are real estate  investments purchased through foreclosure on the mortgage.  Such purchases are not accounted for as mortgages, but as real  estate investments until they can be sold at a better price than  at the foreclosure. Meanwhile they yield a rental income. Realizable value  is the amount of cash or cash equivalents that  could currently be obtained by selling an asset in an orderly  disposal. Plan assets  are assets held by a long-term employee benefit  fund and qualifying insurance policies.  Policy acquisition costs  are the expenses incurred in soliciting  and placing new business as well as renewal of existing business.  It includes agent’s commissions, underwriting expenses, medical  and credit report fees, marketing expenses and all other direct  and indirect expenses of the departments involved in such  activities.  Recognition  is the process of incorporating in the balance  sheet or income statement an item that meets the definition of  an element and satisfies the following criteria for recognition: Reinsurance assets  are a cedant’s net contractual rights under  a reinsurance contract. Reinsurance contract  is an insurance contract issued by one  insurer to compensate another insurer for losses on one or  more contracts issued by the cedant. Policyholder  is a party that has a right to compensation under  an insurance contract if an insured event occurs. Presentation currency  is the currency in which the financial  statements are presented. Price risk  is a market risk, namely the risk that the value of  a financial instrument will fluctuate as a result of changes in  market prices. Private loan  is a non-derivative financial asset with a fixed  interest rate and a maturity date, which is not bought in an  active market but negotiated between the two parties involved.  Private loans are not embodied in securities. When a private  loan takes the form of a private placement of bonds or other  investments directly to an institutional investor like an  insurance company, it has more the character of a bond loan  and such financial instruments are classified as available-for- sale investments rather than as loans and receivables. Renewal of a contract  is when a policyholder takes whatever  action is required, typically payment of a premium, in order to  maintain benefits under the contract.  Repurchase agreement  is a sale of securities with an agreement  to buy back the securities at a specified time and price. Return on plan assets  is the investment income derived from  plan assets, together with realized and unrealized gains and  losses on the plan assets less any costs of administering the  plan and less any tax payable by the plan itself. ■  It is probable that any future economic benefi t associated  with the item will flow to or from the entity; and ■  The item has a cost or value that can be measured with  reliability. ■  Can be used only to pay or fund employee benefi ts under  a defi ned benefit plan; and  ■  Are not available to the reporting entity’s own creditors.