Annual Report 2011 - T-Hrvatski Telekom

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98 Consolidated financial statements 10 Intangible assets Licences and concessions HRK millions Software HRK millions Goodwill HRK millions Assets under construction and other assets HRK millions Total HRK millions At 1 January 2010 Cost Accumulated amortization 677 (419) 1,811 (1,204) 77 - 200 (44) 2,765 (1,667) Net book value 258 607 77 156 1,098 Year ended 31 December 2010 Opening net book value Acquisition of a subsidiary Additions Transfers Disposals Amortization charge 258 - 6 (81) - (45) 607 - 149 191 (1) (267) 77 85 - - - - 156 74 95 (110) - (32) 1,098 159 250 - (1) (344) Net book value 138 679 162 183 1,162 At 31 December 2010 Cost Accumulated amortization 281 (143) 2,509 (1,830) 162 - 251 (68) 3,203 (2,041) Net book value 138 679 162 183 1,162 Year ended 31 December 2011 Opening net book value Additions Transfers Transfers from PPE Amortization charge Impairment loss 138 - 2 - (10) - 679 154 55 2 (295) (2) 162 - - - - - 183 27 (57) - (31) (8) 1,162 181 - 2 (336) (10) Net book value 130 593 162 114 999 At 31 December 2011 Cost Accumulated amortization 281 (151) 2,660 (2,067) 162 - 217 (103) 3,320 (2,321) Net book value 130 593 162 114 999
99 The intangible assets of the Group as of 31 December 2011 include the UMTS licence with the carrying value of HRK 88 million (31 December 2010: HRK 94 million). The UMTS licence is amortised over a period of 20 years (starting from June 2005) according to Concession contract. Net book value of total assets under construction amounts to HRK 27 million (2010: HRK 69 million) and primarily relates to software and the various licences for the use of software. Additions of intangible assets Major additions in the reporting period relate to applicative, system and network technology software and user licences in the amount of HRK 170 million. Impairment loss During 2011, the Group recognized impairment loss of intangible assets of HRK 10 million (2010: nil). Residential operating segment, while the goodwill arising from the Combis acquisition has been allocated to a separate cash-generating unit at a level lower than the operating segments. The recoverable amount of the cash-generating units has been determined based on the value in use calculation using cash flow projections from financial budgets covering a ten-year period. The post-tax discount rate applied to all cash flow projections is 9.6% (2010: 11.0%) and cash flows beyond the tenyear period are extrapolated using a 2.0% growth rate (2010: 2.0%). The calculation of value-in-use is most sensitive to the assumptions on market penetration, market share, regulation and discount rate. With regard to the assessment of value-in-use, management believes that no reasonably possible change in any of the above key assumptions would cause the carrying value of the cash-generating units to materially exceed its recoverable amount. Consolidated financial statements Impairment testing of goodwill For impairment testing, goodwill acquired through business combinations has been allocated to cash-generating units. Goodwill arising from the Iskon acquisition has been allocated mainly to the
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Annual Report 2011
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3 Operating Statistics Key operatio
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Content 5 2 3 7 8 10 12 16 21 22 28
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8 Letter To Shareholders Introducti
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10 Corporate Profile Introduction A
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12 Investor Information Economic en
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14 Dividend proposal for the 2011 f
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16 Management Board Introduction Br
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18 Introduction Branka Skaramuča M
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20 Introduction As a result of the
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22 Supervisory's Board Report Intro
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24 Introduction • Cash management
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26 Summary of the work performed Re
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28 Corporate Governance Code Compli
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30 Introduction Currently the Manag
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II. Business review 2011 Croatian T
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35 first 10 months of 2011 against
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Regulatory Environment 37 Croatian
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Group's Strategy 39 T-HT Group Miss
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Organization of the Group 41 T-HT G
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43 Blended ARPU decreased by 11.0%
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45 additional products: naked bitst
Page 47 and 48: 47 Transport Layer DWDM (Dense Wave
Page 49 and 50: 49 Data and IT Security The protect
Page 51 and 52: 51 Corporate Responsibility III. Co
Page 53 and 54: 53 Code of Conduct T-HT’s Code of
Page 55 and 56: 55 Culture Museum of Contemporary A
Page 57 and 58: 57 Full time employees by education
Page 59 and 60: 59 with direct investments into ext
Page 61: 61 In 2011, Iskon was the official
Page 64 and 65: 64 Group Financial Performance Fina
Page 66 and 67: 66 Financial Review 2011 Terminal e
Page 69 and 70: Consolidated financial statements 3
Page 71 and 72: Independent auditor’s report 71 T
Page 73 and 74: Consolidated statement of financial
Page 75 and 76: Consolidated statement of cash flow
Page 77 and 78: Notes to the consolidated financial
Page 79 and 80: 79 IAS 39 Financial instruments: Re
Page 81 and 82: 81 two types of joint arrangement:
Page 83 and 84: 83 substance of the tax), the Group
Page 85 and 86: 85 Impairment losses relating to go
Page 87 and 88: 87 k) Leases Leases in which a sign
Page 89 and 90: 89 provided that there are no unful
Page 91 and 92: 91 · Statement of comprehensive in
Page 93 and 94: 93 Revenue — by geographical area
Page 95 and 96: 95 7 Other expenses Maintenance ser
Page 97: 97 The deferred tax asset of the Gr
Page 101 and 102: 101 Included within assets under co
Page 103 and 104: 103 The movement in investments in
Page 105 and 106: 105 14 Available-for-sale financial
Page 107 and 108: 107 At 1 January Charge for the yea
Page 109 and 110: 109 At 1 January Service costs reco
Page 111 and 112: 111 23 Legal reserves Legal reserve
Page 113 and 114: 113 27 Contingencies At the time of
Page 115 and 116: 115 The main transactions with rela
Page 117 and 118: 117 29 Financial risk management ob
Page 119 and 120: 119 Year ended 31 December 2011 Cro
Page 121 and 122: 121 electronic communications netwo
Page 123 and 124: 123 the achievement of two share va
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Page 127 and 128: 127 FINANCING 75 Pojmovnik FRAME RE
Page 129: 129 SUPERVISORY BOARD 7, 9, 14, 18,
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Annual Report 2011 - T-Hrvatski Telekom

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