Report 2010 - Italcementi Group

2010 Annual Report
Presentazione 6
Consolidated Annual Report Directors’ report 27
Corporate Governance Consolidated financial statements Financial statements 68
Italcementi S.p.A. financial statements Notes 73
Annexes 142
Report of the Independent Auditors 151
5.2 Investment property
(in thousands of euro)
Net carrying amount at Dec.31, 09 31,621
Gross amount 55,874
Accumulated depreciation (24,253)
Net carrying amount at Dec.31, 09 31,621
Additions 102
Disposals (487)
Depreciation and impairment losses (1,550)
Currency translation differences 1,381
Reclassifications 2,031
Net carrying amount at Dec.31, 10 33,098
Gross amount 58,147
Accumulated depreciation (25,049)
Net carrying amount at Dec.31, 10 33,098
Investment property is carried at amortized cost; fair value at December 31, 2010, was 134.3 million euro
(119.2 million euro at December 31, 2009). “Depreciation and impairment losses” include a value adjustment of
1.0 million euro on land in Spain.
6. Goodwill
6.1 Change in goodwill
The change in goodwill with respect to December 31, 2009, was as follows:
(in thousands of euro)
Net carrying amount at Dec.31, 09 1,961,616
Acquisitions and changes in scope of consolidation 2,061
Sales -
Impairment losses (469)
Currency translation differences 53,406
Net carrying amount at Dec.31, 10 2,016,614
The material change in goodwill during the year arose almost entirely from currency translation gains
generated by the appreciation of other currencies against the euro; see the table in note 6.2 detailing goodwill
by country.
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