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2. Signifcant accounting policies (continued)ix) Employee benefts (continued)Defned beneft plans (continued)Net interest is calculated by applying the discount rate to the net defned beneft liability or asset. The Group recognises the following changes in the net defned beneft obligation within %u201cAdministrative and distribution costs%u201d (Note 16):%u2022 Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine settlements; and%u2022 Net interest expense or income.Other post-employment beneft plansThe Group also provides other post-employment benefts to their retirees. These benefts are unfunded. The entitlement to these benefts is based on the employee remaining in service up to retirement age and the completion of a minimum service period. The expected costs of these benefts are accrued over the period of employment, using an accounting methodology similar to that for the defned beneft plans.x) InventoriesInventory of newsprint, printing materials and machinery spares are valued at the lower of cost and net realisable value. Cost is calculated using the weighted average method and includes relevant import and local charges. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale.xi) Trade and other receivablesTrade receivables, which generally have 30%u201390 day terms, are recognised and carried at original invoice amounts less an allowance for any uncollectible amounts. An estimate for expected credit losses is made depending on the credit risk at the time of initial recognition. Trade receivables are considered to be credit-impaired when collection of the full amount is no longer probable. Bad debts are written-of as incurred.GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)62 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018