Boskalis_Annual Report_2017

95

15. INTANGIBLE ASSETS

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2017 Cost

653,323 - 401,307 252,016

130,234

783,557

- 94,730 - 496,037

Accumulated amortization and impairments

35,504

287,520

Carrying amount

Movements Acquired through business combinations

- - - -

1,759

1,759

- 9,482 - 2,367 - 10,090

- 9,482 - 2,367 - 10,090

Amortization

Currency translation differences and other movements

Balance as at 31 December 2017 Cost Accumulated amortization and impairments

615,737

128,328

744,065

- 363,721 - 102,914 - 466,635

252,016

25,414

277,430

Carrying amount

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 combinations Reclassified to Assets held for sale

154,939

103

155,042

- -

- 723

- 723

Amortization

- 8,461

- 8,461

Impairment losses

- 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

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. Following the impairment losses recognized in 2016, as of 2017 currency translation differences do not occur with respect to the carrying amount of goodwill. However, cost and accumulated amortization and impairments are still impacted by translation differences. 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:

2017

2016

CASH-GENERATING UNIT

OPERATIONAL SEGMENT

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

Offshore Energy

Offshore Energy

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

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 2017 – BOSKALIS AN U L REP RT 2017 -- BOSKALIS