Intangible assets
1.Goodwill
Goodwill arising on the acquisition of subsidiaries is measured at cost less accumulated impairment losses.
2.Other intangible assets
Other intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortization and accumulated impairment losses.
3.Subsequent expenditure
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures, including expenditures on internally generated goodwill and brands, are recognized in the statement of operations as incurred.
4.Amortization
Amortization is a systematic allocation of the amortizable amount of an intangible asset over its useful life. The amortizable amount is the cost of the asset less its residual value.
Amortization is recognized in the statement of operations on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use. Goodwill and intangible assets that have an indefinite useful life are not systematically amortized but are tested for impairment at least once a year.
The estimated useful lives for the current and comparative periods are as follows:
|
- |
Software licenses |
3‑10 years |
|
- |
Customer relations |
5‑8 years |
|
- |
Technology |
8 years |
|
- |
Trademarks |
Indefinite |
Amortization methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate.
The Group examines the useful life of an intangible asset that is not periodically amortized at least once a year in order to determine whether events and circumstances continue to support the decision that the intangible asset has an indefinite useful life.