Financial Report and Registration Document 2010 - Groupe Seb

3 NOTES
CONSOLIDATED FINANCIAL STATEMENTS
TO THE CONSOLIDATED FINANCIAL STATEMENTS
2009
(in € millions)
Cost
Patents and
licences Trademarks Goodwill Software
Development
costs Other Total
At 1 January 18.6 300.8 419.8 54.1 35.6 52.8 881.7
Acquisitions and additions 0.2 1.8 3.6 11.4 17.0
Shares sold on the market (2.1) (0.7) (0.2) (3.0)
Other movements (a) 0.1 4.4 (3.8) 0.7
Translation adjustment 0.3 3.2 13.4 1.9 0.1 (0.9) (8.8)
AT 31 DECEMBER 19.1 304.0 406.4 55.8 43.0 59.3 887.6
Depreciation and impairment losses
At 1 January 16.3 6.9 39.5 23.3 7.1 93.1
Translation adjustment 0.1 (0.3) (0.6) 1.1 (0.2) 0.1
Increases 0.2 5.5 8.1 3.4 17.2
Impairment losses 20.4 0.9 21.3
Depreciation and impairment losses
written off on disposals (2.1) (0.6) (2.7)
Other movements (a) (0.2) (0.5) 0.1 0.4 (0.2)
AT 31 DECEMBER 16.4 6.6 19.8 43.5 31.8 10.7 128.8
Carrying amount at 1 January 2.3 293.9 419.8 14.6 12.3 45.7 788.6
CARRYING AMOUNT
AT 31 DECEMBER 2.7 297.4 386.6 12.3 11.2 48.6 758.8
(a) Including changes in scope of consolidation.
2008
(in € millions)
Cost
Patents and
licences Trademarks Goodwill Software
Development
costs Other Total
At 1 January 18.5 217.7 111.1 51.2 29.9 19.2 447.6
Acquisitions and additions 0.2 4.3 2.6 13.2 20.3
Shares sold on the market (1.0) (2.2) (0.5) (3.7)
Other movements (a) 75.1 269.0 1.9 5.4 17.6 369.0
Translation adjustment (0.1) 8.0 39.7 (2.3) (0.1) 3.3 48.5
AT 31 DECEMBER 18.6 300.8 419.8 54.1 35.6 52.8 881.7
Depreciation and impairment losses
At 1 January 14.5 4.4 36.3 16.3 3.9 75.4
Translation adjustment 0.4 (1.4) 0.4 (0.6)
Increases 1.0 5.6 8.1 1.7 16.4
Impairment losses 0.8 2.1 0.9 0.6 4.4
Depreciation and impairment losses
written off on disposals (1.0) (2.0) (3.0)
Other movements (a) 0.5 0.5
AT 31 DECEMBER 16.3 6.9 39.5 23.3 7.1 93.1
Carrying amount at 1 January 4.0 213.3 111.1 14.9 13.6 15.3 372.2
CARRYING AMOUNT
AT 31 DECEMBER 2.3 293.9 419.8 14.6 12.3 45.7 788.6
(a) Including changes in scope of consolidation.
In 2008, other movements mainly comprised the effect of acquiring control
of Supor, which was fully consolidated for the first time during the period,
and include recognition of the trademark for €75.1 million and goodwill for
€269 million (see Note 2.3).
Trademarks and goodwill were tested for impairment according to the
method described in Note 1.4.3. by comparing their carrying amount to
their value in use, with the exception of the trademarks mentioned below,
which were valued using the relief from royalty method.
The discount rates used were determined based on the weighted average
cost of capital, taking into account market interest rates, and debt ratio,
beta and average equity risk premium based on historical data. The equity
risk premium used for 2010 was 5% (5.25% in 2009). Specific equity risk
premiums ranging from 0.5% to 4.0% were applied to the Group’s different
CGUs, according to their size, region and other specific characteristics.
Impairment tests in 2010 were generally based on a 2011 budget similar to
the budget for 2010.
In 2010, an additional impairment loss of €14.7 million was booked against
All-Clad goodwill (see Note 6).
84 FINANCIAL REPORT AND REGISTRATION DOCUMENT 2010 GROUPE SEB