Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

Consolidated and Annual Financial Statements 2010
15 Intangible assets
111
2010 (in thousand CHF) Goodwill Software
Brands /
Customer
lists
Other
intangible
assets
Total
Acquisition costs
Balance on 1 January 44,315 63,879 23,651 688 132,533
Translation differences (1,170) (3,831) (1,732) (44) (6,777)
Change in the scope of consolidation 1,404 2 844 0 2,250
Additions 0 13,677 0 21 13,698
Disposals 0 (1,003) 0 (9) (1,012)
Balance on 31 December 44,549 72,724 22,763 656 140,692
Accumulated depreciation or impairment losses
Balance on 1 January 1,823 39,570 18,755 508 60,656
Translation differences (225) (3,453) (1,433) (45) (5,156)
Additions 0 6,385 1,569 159 8,113
Disposals 0 (1,003) 0 (9) (1,012)
Balance on 31 December 1,598 41,499 18,891 613 62,601
Net book value on 1 January 42,492 24,309 4,896 180 71,877
Net book value on 31 December 42,951 31,225 3,872 43 78,091
2009 (in thousand CHF) Goodwill Software
Brands /
Customer
lists
Other
intangible
assets
Total
Acquisition costs
Balance on 1 January 43,546 63,101 22,392 15,754 144,793
Translation differences 769 713 1,253 188 2,923
Additions 0 9,270 6 149 9,425
Disposals 0 (9,205) 0 (15,403) (24,608)
Balance on 31 December 44,315 63,879 23,651 688 132,533
Accumulated depreciation or impairment losses
Balance on 1 January 0 40,865 14,774 15,421 71,060
Translation differences 0 415 858 337 1,610
Additions 1,823 7,495 3,123 153 12,594
Disposals 0 (9,205) 0 (15,403) (24,608)
Balance on 31 December 1,823 39,570 18,755 508 60,656
Net book value on 1 January 43,546 22,236 7,618 333 73,733
Net book value on 31 December 42,492 24,309 4,896 180 71,877
The net book value of software is comprised of accumulated internally generated capitalized software development costs of CHF 22.6 million
(2009: CHF 4.8 million). All intangible assets with estimable useful lives are amortized over the period of their respective estimated
useful lives to their estimated residual values, and reviewed for impairment. Neither in 2010 nor 2009 there were any impairment charges
on these intangible assets.
Impairment test for goodwill
Goodwill is allocated to the Group’s cash-generating units (CGUs) identified according to the country of operation. The recoverable amount
of a CGU is determined based on value-in-use calculations. These calculations use cash flow projections based on financial budgets
ap proved by management covering a five-year period. Cash flows beyond the five-year period are extrapolated using the estimated growth
rates stated below. The growth rate does not exceed the long-term average growth rate for the business in which the CGU operates.
Panalpina Annual Report 2010