2013 Registration document and annual financial report - page 223

Registration Document 2013
221
Financial Statemements
5
Consolidated Financial Statements And Notes
B. Assumptions applied
The methods used to calculate recoverable amounts are described in note 1.E.6.
At December 31, 2013, the main other assumptions used to estimate recoverable amounts were as follows:
December 2013
Hotels
Germany
France
(excl. Adagio)
Asia
Australia Latin America
Basis on which the recoverable amount has been
determined
Discounted
cah flow
method
EBITDA
multiples
method
Discounted
cah flow
method
Discounted
cah flow
method
EBITDA
multiples
method
Level of the fair value hierarchy according IFRS 13
(see note 1.R)
3
2
3
3
2
Multiple used
N/A
8.5
N/A
N/A
5
Period of projections (years)
5
N/A
5
5
N/A
Growth rate
2.00%
N/A
2.00% 2.60%
N/A
Discount rate
8.80%
N/A
10.40% 8.20%
N/A
At December 31, 2012, the main other assumptions used to estimate recoverable amounts were as follows:
December 2012
Hotels
Germany
France
(excl. Adagio)
Asia
Australia
Basis on which the recoverable amount has been determined
Discounted
cah flow
method
EBITDA
multiples
method
Discounted
cah flow
method
Discounted
cah flow
method
Level of the fair value hierarchy according IFRS 13
(see note 1.R)
3
2
3
3
Multiple used
N/A
8.5
N/A
N/A
Period of projections (years)
5
N/A
5
5
Growth rate
2.00%
N/A
2.00% 2.60%
Discount rate
8.90%
N/A
10.20% 8.50%
Note 13.2. Impairment losses recognized during the period, net of reversals
Impairment losses recognized in 2012 and 2013 can be analyzed as follows:
(in millions of euros)
2012
2013
Goodwill
(11)
(7)
Intangible assets
(24)
(1)
Property, plant and equipment
(83)
(81)
Financial assets
(1)
-
IMPAIRMENT LOSSES
(119)
(89)
1...,213,214,215,216,217,218,219,220,221,222 224,225,226,227,228,229,230,231,232,233,...344
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