The ATP Group Annual Report 2012

Management's Review Business Model Risk Pension Hedging and Investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsNote 23 Impairment testDevelopment projects in progressDevelopment projects in progress comprise primarily developmentand testing of a new standard framework system which is to replacea number of customised systems developed by the ATP Group over a40-year period in response to needs and requirements arising fromnew assignments and business areas. At 31 December 2012, the carryingamount of the ATP Business Platform totalled DKK 134m.The investment is a strategic investment in an IT platform, designedto meet future requirements, and based on web technology; the investmentalso has a clear efficiency-enhancement objective, however.The new system is designed to ensure lower expenses over a numberof years – through standardisation of uniform procedures and standardsoftware.In 2012, the Supervisory and Executive Boards conducted an impairmenttest of the carrying amount of development expenses in progress.The assessment is that the recoverable value exceeds the carryingamount. The assessment of the recoverable value is based onvalue in use calculations, determined through use of expected cashflows based on budgets for the years 2013 to 2018 as approved by theSupervisory and Executive Boards. Development projects in progressall relate to the Group's pension activities and total DKK 262m at 31December 2012.Other assetsThe Supervisory and Executive Boards have not identified any factorsto indicate that impairment tests are required for other intangible assetsor property, plant and equipment.The new system will also make it swifter and cheaper to integrate newservices.The ATP Group – Annual Report 2012106