VINCI - 2005 annual report

2.3.2 Goodwill
CONSOLIDATED FINANCIAL STATEMENTS
(in € millions) Notes 31/12/2004
French GAAP 1,387
Reclassifications:
Goodwill arising on acquisition of ASF shares (a) (691)
Other goodwill related to investments in associates (a) (14)
WFS market shares (b) 63
“Commercial goodwill” (fonds de commerce) (b) 10
Other reclassifications 2.3.3 (17)
Total (649)
Restatements:
Non-amortisation of goodwill (c) 47
Goodwill relating to quarrying companies allocated to property, plant and equipment (d) (9)
Other 1
Total 39
IFRS 777
Reclassifications:
(a) In accordance with IAS 28, goodwill relating to investments in
associates is included under the same heading as the corresponding investments.
This reclassification relates mainly to the goodwill on VINCI’s 23%
investment in ASF.
(b) “Commercial goodwill” and market shares acquired as part of business
combinations and recognised in intangible assets under French GAAP are
reclassified to goodwill under IFRS (see 2.3.1 (a)).
2.3.3 Concession intangible fixed assets
Restatements:
(c) In application of IFRS 3 Business Combinations, goodwill is no longer
amortised. This restatement has led to the cancellation in the IFRS financial
statements of €47 million of goodwill amortisation (see 1.6).
(d) Goodwill allocated to quarries in the Roads business lines is now
shown under property, plant and equipment and is amortised over the
expected period of operation of the quarry, with a maximum of 40 years.
(in € millions) Notes 31/12/2004
French GAAP 5,567
Reclassifications:
Investment grants (a) (580)
Other reclassifications 2.3.2 17
Total (563)
Restatements:
Capitalised borrowing costs (b) 58
Reversal of capitalisation of costs connected with financing activities (c) (23)
Cancellation of capitalised pre-operating expenses (d) (6)
Other (9)
Total 20
IFRS 5,024
269