Boskalis_Annual_Report_2016

93

15. INTANGIBLE ASSETS

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2016 Cost

489,385

135,131 - 91,236 43,895

624,516 - 91,236 533,280

Accumulated amortization and impairments

-

Carrying amount

489,385

Movements Acquired through business combination VolkerWessels offshore activities

154,939

103

155,042

Reclassified to Assets held for sale

- -

- 723

- 723

Amortization

- 8,461

- 8,461

Impairment losses (note 10)

- 382,269 - 10,039 - 237,369

-

- 382,269

Currency translation differences and other movements

690

- 9,349

- 8,391

- 245,760

Balance as at 31 December 2016 Cost Accumulated amortization and impairments

653,323 - 401,307 252,016

130,234 - 94,730 35,504

783,557 - 496,037 287,520

Carrying amount

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2015 Cost

458,607

142,521 - 83,460 59,061

601,128 - 83,460 517,668

Accumulated amortization and impairments

-

Carrying amount

458,607

Movements Amortization

-

- 12,722 - 2,444 - 15,166

- 12,722 28,334 15,612

Currency translation differences and other movements

30,778 30,778

Balance as at 31 December 2015 Cost Accumulated amortization and impairments

489,385

135,131 - 91,236 43,895

624,516 - 91,236 533,280

-

Carrying amount

489,385

The goodwill on the offshore activities acquired from VolkerWessels in 2016 is part of the goodwill relating to the cash-generating unit Offshore Energy.

Currency translation differences mainly relate to the goodwill and other intangible assets resulting from the acquisitions of Dockwise and Fairmount, both of which are denominated in USD. The acquiring Group company has the USD as its functional currency, following the USD as functional currency of the acquired Group companies. GOODWILL 15.1 For the purpose of impairment testing, goodwill is allocated to the cash-generating units (CGU) which represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. This does not exceed the level of Group’s operating segments reported in note 4 on Segment reporting.

Goodwill is allocated to the following cash-generating units:

2015

2016

CASH-GENERATING UNIT

OPERATIONAL SEGMENT

154,939 46,607 36,875 13,595 252,016

Offshore Energy

Offshore Energy

392,308 46,607 36,875 13,595 489,385

Inland Infra

Dredging & Inland Infra

Salvage Dredging

Towage & Salvage

Dredging & Inland Infra

Total

When conducting impairment tests on goodwill, the recoverable amounts are determined based on value-in- use calculations. Value-in-use is determined by discounting the expected future cash flows from the continuing operations of the CGU.

ANNUAL REPORT 2016 – BOSKALIS