Annual Report 2012 - Swiss Life

185 Consolidated Financial Statements
Other intangible assets
In CHF million Goodwill Customer relationships Brands and other Total
Notes 2012 2011 2012 2011 2012 2011 2012 2011
Cost
Balance as at 1 January 1 727 1 745 311 316 236 230 2 274 2 291
Additions – – – – 22 20 22 20
Additions from business combinations 29 7 9 – 2 1 – 7 11
Additions from internal software development – – – – 6 – 6 –
Classification as assets held for sale and other disposals 0 – – – –3 –8 –3 –8
Foreign currency translation differences –8 –27 –2 –7 –2 –6 –12 –40
Balance as at end of period 1 726 1 727 309 311 258 236 2 293 2 274
Accumulated amortisation and impairment
Balance as at 1 January –157 –157 –112 –83 –100 –102 –369 –342
Amortisation – – –28 –29 –11 –6 –39 –35
Impairment losses –393 – –115 –2 –94 –1 –601 –3
Classification as assets held for sale and other disposals – – – – 3 8 3 8
Foreign currency translation differences 0 – 1 2 1 1 1 3
Balance as at end of period –550 –157 –255 –112 –200 –100 –1 005 –369
Total other intangible assets as at end of period 1 176 1 570 54 199 58 136 1 288 1 905
Goodwill
Goodwill represents the excess of the fair value of the consideration transferred and the amount of
any non-controlling interest recognised, if applicable, over the fair value of the assets and liabilities
recognised at the date of acquisition. Goodwill includes amounts relating to both the Swiss Life
Group’s interest and the non-controlling interest in the business acquired in the case where noncontrolling
interest is measured at fair value. Goodwill on acqui sitions of subsidiaries is included in
intangible assets. Goodwill on associates is included in the carrying amount of the investment.
Goodwill relating to the acquisition of aXenta AG, Baden, in May 2012 amounted to CHF 7 million.
In 2011, the Swiss Life Group acquired a majority share of Viveris REIM, Marseilles. The goodwill
relating to this transaction amounted to CHF 9 million.
Goodwill relating to Lloyd Continental has been allocated to the “Insurance France” segment. Goodwill
relating to CapitalLeben has been allocated to the “Insurance International” segment. Of the
goodwill relating to other acquisitions, CHF 12 million (2011: CHF 12 million) has been allocated to
the “Insurance France” segment and CHF 9 million (2011: CHF 9 million) to the “Investment Management”
as at 31 December 2012. The goodwill on the acquisition of aXenta AG, Baden, was fully
impaired in 2012.
The calculations relating to the recoverable amounts, which have been determined on a value-in-use
basis, use cash flow projections based on financial budgets approved by management. The projection
covers a four-year period for Lloyd Continental. Due to the duration of the insurance and investment
contracts a five-year period was used for CapitalLeben. The calculations for Lloyd Continental and
Swiss Life – Annual Report 2012