2011 - Li & Fung Limited

NOTES TO THE ACCOUNTS (CONTINUED)
12 INTANGIBLE ASSETS (CONTINUED)
106 LI & FUNG LIMITED | ANNUAL REPORT 2011
Brand
Buying
agency
and license
Customer
The Group
Licensor
Trademarks
and
Computer
software
and system
development
Goodwill licenses agreements relationships relationships brandnames costs Others Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
At 1 January 2010 – Restated
Cost 1,989,464 89,626 60,867 103,538 29,000 77,754 49,647 1,900 2,401,796
Accumulated amortization – (36,992) (4,856) (10,002) (5,197) (2,706) (8,115) (271) (68,139)
Net book amount 1,989,464 52,634 56,011 93,536 23,803 75,048 41,532 1,629 2,333,657
Year ended 31 December 2010 –
Restated
Opening net book amount 1,989,464 52,634 56,011 93,536 23,803 75,048 41,532 1,629 2,333,657
Exchange differences (16,207) – – 54 – (2) (87) – (16,242)
Acquisition of businesses/subsidiaries
Adjustments to purchase consideration
for acquisitions completed prior to
2,101,198 41,662 – 154,494 43,000 14,700 3,708 – 2,358,762
1 January 2010 * 68,376 – – – – – – – 68,376
Additions – 245,279 – – – – 4,126 – 249,405
Disposals – – – – – – (26) – (26)
Amortization – (78,755) (3,175) (15,331) (4,162) (4,724) (5,348) (271) (111,766)
Closing net book amount 4,142,831 260,820 52,836 232,753 62,641 85,022 43,905 1,358 4,882,166
At 31 December 2010 – Restated
Cost 4,142,831 376,567 60,867 258,085 71,999 92,451 57,380 1,900 5,062,080
Accumulated amortization – (115,747) (8,031) (25,332) (9,358) (7,429) (13,475) (542) (179,914)
Net book amount 4,142,831 260,820 52,836 232,753 62,641 85,022 43,905 1,358 4,882,166
* For acquisitions completed prior to 1 January 2010, the effective date of HKFRS 3 (Revised) “Business Combination” being adopted by the Group, the
changes in accrued contingent considerations determined based on post-acquisition performance were made against goodwill.