Financial Statements - Geberit

9. Goodwill and intangible assets
Cost at beginning of year
Changes in Group organisation (Note 2)
Additions
Disposals
Translation differences
Cost at end of year
10. Short-term borrowings
Geberit Group
Accumulated amortisation at beginning of year
Additions
Disposals
Translation differences
Accumulated amortisation at end of year
Net carrying amounts at end of year
mchf 403.3 of total goodwill, net, as of 31 December 2000 resulted from the
Leveraged-buyout. The amortisation period is twenty years.
Of the total of mchf 40.6 of amortisation for the period (1999: mchf 65.8),
mchf 37.4 related to the Leveraged-buyout. After tax the total figure amounted
to mchf 38.3 (1999: mchf 56.8).
Under the Working Capital Facility, the Group maintains an overdraft credit line
to fund corporate working capital requirements totalling mchf 50.0 of available
credit. In addition it maintains several credit lines with various lenders which
together amount to mchf 67.1 (“the Local Facilities”). The Group considers
borrowing under the Working Capital Facility and the Local Facilities to be
short-term in nature, and accordingly, includes these borrowings in short-term
borrowings.
The Working Capital Facility bears interest at libor plus an interest margin of
0.875% per annum. Interest is payable at the maturity of a revolving advance,
which can have terms of one, two, three or six months or such other period as
the lender may agree to. Furthermore, a commitment fee is paid equal to onehalf
of the applicable margin, which was 0.4375% as of 31 December 2000,
on the unused portion of such facility.
58
1999
Total
MCHF
736.9
0.3
28.5
(0.1)
(0.4)
765.2
118.3
65.8
(0.1)
0.2
184.2
581.0
Movements in 2000
Goodwill Patents Trademarks
and and other
know-how intangible
assets
MCHF MCHF MCHF
527.6
3.6
95.1 142.5
2.8
531.2
74.6
28.3
102.9
428.3
95.1
89.8
5.3
95.1
(0.5)
144.8
19.8
7.0
26.8
118.0
2000
Total
MCHF
765.2
3.6
2.8
(0.5)
771.1
184.2
40.6
224.8
546.3