2.8 MEUR - Gorenje - Gorenje Group

The following deferred tax amounts were recognised in other comprehensive income:
ANNUAL REPORT 2011
in TEUR 2011
Pre-tax amount Tax
After-tax
amount
Change in fair value of available-for-sale financial assets -135 27 -108
Change in fair value of available-for-sale financial assets
transferred to profit or loss
0 0 0
Change in effective portion of gains and losses on hedging
instruments in a cash flow hedge
Change in effective portion of gains and losses on hedging
-7,499 1,015 -6,484
instruments in a cash flow hedge transferred to profit or
loss
2,154 0 2,154
Change in fair value of land -1 31 30
Foreign currency translation differences for foreign operations
1,148 0 1,148
Other comprehensive income -4,333 1,073 -3,260
in TEUR 2010
Pre-tax amount Tax
After-tax
amount
Change in fair value of available-for-sale financial assets 50 -17 33
Change in fair value of available-for-sale financial assets
transferred to profit or loss
145 -33 112
Change in effective portion of gains and losses on hedging
instruments in a cash flow hedge
317 -17 300
Change in effective portion of gains and losses on hedging
instruments in a cash flow hedge transferred to profit or loss
0 0 0
Change in fair value of land -7,777 158 -7,619
Foreign currency translation differences for foreign operations -8,563 0 -8,563
Other comprehensive income -15,828 91 -15,737
Note 20 – Intangible assets TEUR 158,620
in TEUR 2011 2010
Development costs 11,768 12,096
Industrial property rights 14,712 15,373
Trademark 61,964 61,964
Goodwill 68,653 69,358
The Management Board of Intangible the company assets Gorenje, under d.d. construction 1,523 1,370
Total 158,620 160,161
Intangible assets include mainly trademarks (Atag, Etna and Pelgrim), deferred development costs, and software.
Goodwill in the amount of TEUR 62,130 and fair value of trademarks Atag, Etna and Pelgrim in the amount of
TEUR 61,964 were established in 2008 at the acquisition of the company ATAG Europe BV. In addition, goodwill
was established in 2008 in the amount of TEUR 1,617 at the acquisition of the majority interest in PUBLICUS,
d.o.o. Goodwill in the amount of TEUR 2,030 was established in 2007 at the acquisition of the majority interest
in Gorenje Surovina, d.d.. Goodwill in the amount of TEUR 2,875 was established in 2005 at the acquisition of
Mora Moravia, s r. o. in the Czech Republic and Gorenje Studio, d.o.o. in Serbia.
Impairment testing of goodwill and trademarks
Impairment testing of goodwill and trademarks Atag, Etna and Pelgrim arising from the acquisition of ATAG
Europe BV was carried out. The calculations are based on cash flow projections for ATAG, which have been prepared
on the basis of the adopted business plan for 2012 and strategic business plan for the period from 2013 to
2015. The main underlying assumptions used to calculate the value in use are: the revenue growth rate of 3.0%
(2010: 3.0%) and the discount rate of 13.31% (2010: 12.31%).
The Management Board of the company Gorenje, d.d. 145