4.0 - Imperial

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Notes to the group annual financial statements continued... for the year ended 30 June 2009 4. Intangible assets Computer Other Goodwill software intangibles Total Rm Rm Rm Rm For the year ended 30 June 2009 – Cost 1 158 264 105 1 527 – Accumulated impairment and amortisation 399 189 38 626 759 75 67 901 Net book value at beginning of year 770 46 81 897 Net acquisition (disposal) of subsidiaries and businesses 213 (1) 2 214 Additions 63 6 69 Proceeds on disposal (1) (1) Impairment (costs) reversals (194) 2 (192) Amortisation (44) (5) (49) Currency adjustments (30) (7) (37) Reclassification 17 (17) Net book value at end of year 759 75 67 901 For the year ended 30 June 2008 – Cost 974 238 107 1 319 – Accumulated impairment and amortisation 204 192 26 422 770 46 81 897 Net book value at beginning of period 1 130 28 80 1 238 Net acquisition (disposal) of subsidiaries and businesses (including unbundling) 36 (5) 31 Additions 46 8 54 Impairment costs (47) (47) Amortisation (27) (4) (31) Currency adjustments 106 4 2 112 Reclassified to assets held for sale (455) (5) (460) Net book value at end of period 770 46 81 897 Goodwill impairment testing Goodwill is allocated to cash generating units (CGUs) that are measured individually for the purposes of impairment testing. A CGU represents the business operation from which goodwill was originally generated. The recoverable amount of a CGU is determined being the higher of value in use, or the fair value less costs to sell method. Value in use Value in use is calculated using discounted cash flows. Cash flow projections are based on three to five year forecast information approved by senior management. Cash flows beyond the initial period are extrapolated using average growth rates. Discount and growth rates are used that are relevant to the particular industry and geographic location in which a CGU operates. Fair value less costs to sell Fair value less costs to sell is calculated with reference to publicly traded market prices. Goodwill was tested for impairment and where the excess of the recoverable amount over the carrying value of the CGU in the group amounts is less than the goodwill, then goodwill is impaired. CGUs that are significant in relation to the group’s total goodwill carrying amount are outlined below. 82 Imperial holdings limited Annual Report 2009
4. Intangible assets (continued) The remainder of the goodwill carrying amount is made up of numerous CGUs spanning all of the group’s segments. Financial Statements Growth rate Carrying Basis for Discount rate used to amount determining applied to extrapolate 2009 recoverable cash flow cash flows Significant cash generating unit (CGU) Rm amount % % Imperial Logistics International GmbH 307 Value in use 10,53 Beekman Super Canopies (Pty) Limited 76 Value in use 10,90 3,3 Rijnaarde BV 65 Value in use 11,10 2,0 5. Investments in associates and joint ventures 2009 2008 Unlisted shares at cost 770 565 Share of post-acquisition reserves (net of impairments) 1 183 1 126 Goodwill written off (22) (22) Carrying value of shares 1 931 1 669 Indebtedness by associates and joint ventures 338 277 Call option (Lereko Mobility) 65 71 Carrying value of investment in associates and joint ventures 2 334 2 017 Reclassified to associate held for sale (1 544) Rm Rm 790 2 017 Valuation of shares Unlisted shares at directors’ valuation 1 931 1 669 Unrecognised share of losses of associates and joint ventures exceeding the group’s interest in the associate Current period unrecognised losses 106 115 Cumulative unrecognised losses 221 115 Details of the group’s principal associates and joint ventures are reflected in Annexure B. The directors’ valuation has been established by reference to the group’s share of the net assets of the associates and joint ventures. Imperial holdings limited Annual Report 2009 83
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company Overview Chairman’s repor
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our past Our strengths in the marke
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PROFILE Imperial is a diversified m
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for more information please visit w
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Directors and executive committee 2
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Chairman’S report paying dividend
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Chief exeCutive offiCer’S report
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Chief exeCutive offiCer’S report
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16 16 imperial Imperial holdings li
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Divisional review > logistics conti
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Divisional review > Car rental and
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Divisional review > distributorship
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Divisional review > vehicle dealers
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Divisional review > insurance By me
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financial director’s report Stron
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financial director’s report conti
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Page 62 and 63: group balance sheet at 30 June 2009
Page 64 and 65: Group statement of changes in equit
Page 66 and 67: segment information - balance sheet
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Page 70 and 71: Notes to the group annual financial
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ANNEXURE B Interest in principal as
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ANNEXURE C additional information o
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ANNEXURE D ANALYSIS of the group’
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ANNEXURE E summary of employment eq
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notice of annual general meeting co
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notice of annual general meeting co
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corporate information Directors Non
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NOTES to the form of proXY Notes 1.
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4.0 - Imperial

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