Boskalis Annual Report 2018

99

15. INTANGIBLE ASSETS

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2018 Cost

615,737

128,328

744,065

Accumulated amortization and impairments

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

Carrying amount

252,016

25,414

277,430

Movements Amortization

-

- 3,471

- 3,471

Impairment charges

- 154,939

-

- 154,939

Currency translation differences and other movements

-

620

620

- 154,939

- 2,851 - 157,790

Balance as at 31 December 2018 Cost Accumulated amortization and impairments

629,426 - 532,349

121,125

750,551

- 98,562 - 630,911

Carrying amount

97,077

22,563

119,640

GOODWILL

OTHER

TOTAL

Balance as at 1 January 2017 Cost

653,323 - 401,307 252,016

130,234 - 94,730 35,504

783,557 - 496,037 287,520

Accumulated amortization and impairments

Carrying amount

Movements Acquired through business combinations

- - - -

1,759 - 9,482 - 2,367 - 10,090

1,759 - 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 - 363,721 252,016

128,328 - 102,914

744,065 - 466,635 277,430

Carrying amount

25,414

Currency translation differences mainly relate to 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 impairment charges recognized in previous years, 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 currency translation differences. 15.1 GOODWILL 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:

2018

2017

CASH-GENERATING UNIT

OPERATIONAL SEGMENT

Offshore Energy

Offshore Energy

-

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

Inland Infra

Dredging & Inland Infra

46,607 36,875 13,595 97,077

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 2018 – BOSKALIS A L REPORT 2018 -- BOSKALIS