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Part 3 - Financial statements
85
The development costs include on the one hand, use
rights on the softwares obtained through the Deltak
acquisition and, on the other hand, the capitalized
internal development costs, mainly related to developments
made in order to remain at the forefront of the
technology in cooling systems.
22. GOODWILL
in EUR ‘000’
As of 31 December 2009
Acquisition cost
Accumulated amortization and impairment
Net carrying amount
For the year ended 31 December 2010
Exchange differences
Impairment charge
Entry / changes in consolidation scope
Net carrying amount at closing date
As of 31 December 2010
Acquisition cost
Accumulated amortization and impairment
Net carrying amount
For the year ended 31 December 2011
Exchange differences
Entry / changes in consolidation scope
Net carrying amount at closing date
As of 31 December 2011
Acquisition cost
Accumulated amortization and impairment
Net carrying amount
For the year ended 31 December 2012
Exchange differences
Entry / changes in consolidation scope
Net carrying amount at closing date
As of 31 December 2012
Acquisition cost
Accumulated amortization and impairment
Net carrying amount
42 286
(639)
41 647
3 484
(892)
4 879
49 118
50 649
(1 531 )
49 118
(779)
6 368
54 707
56 238
(1 531 )
54 707
(1 897 )
409
53 219
54 750
(1 531 )
53 219
During 2011, Hamon proceeded with the acquisition of
Deltak, after the ones of Enviroserv GmbH and of J&C
Engineering (Pty) in 2010 (see note 15). The goodwill
generated by the Deltak acquisition was allocated to
the Cash Generating Unit (CGU) Air Pollution Control
and Heat Recovery NAFTA. Those related to J&C and
Enviroserv in 2010 were allocated to CGU Air Pollution
Control EMEA/Brazil.
Other movements of the heading “Entry / changes in
consolidation scope” are related to the review of the
contingent payment portion and the update of the value
of the put option granted to the non-controlling shareholders
of DGE and TS or J&C (CGU “Air Pollution
Control EMEA/Brazil”).
The Group annually performs an impairment test of
goodwill in conformity with the accounting principles
detailed under note 3.
The Hamon Group considers that the CGUs correspond
to the segments described under note 7. Indeed, the
segments constitute operational entities, integrated on a
management, commercial, operational and technological
level, the allocation of resources between business and
legal entities being generally decided on the basis of
operational optimization criteria’s. Only ACS, integrated in
a segment at the end of 2010 only, is reviewed separately.
The recoverable value of cash generating units was
determined, for CGUs that include a significant goodwill
compared to generated EBITDA, on the basis of the
value in use and for the others on the basis of their fair
value decreased by the sale expenses related to those
cash generating units.