2013 Registration document and annual financial report - page 233

Registration Document 2013
231
Financial Statemements
5
Consolidated Financial Statements And Notes
NOTE
19 INTANGIBLE ASSETS
(in millions of euros)
Dec. 2012
Dec. 2013
Brands and rights
(1)
75
59
Licenses, software
157
174
Other intangible assets
(2)
244
278
TOTAL INTANGIBLE ASSETS AT COST
476
511
Brands and rights
(1)
(42)
(36)
Licenses, software
(123)
(133)
Other intangible assets
(2)
(47)
(59)
TOTAL ACCUMULATED AMORTIZATION AND IMPAIRMENT LOSSES
(212)
(228)
INTANGIBLE ASSETS, NET
264
283
(1) The carrying amount of other brands and rights was €23 million at December 31, 2013, as follows:
- €17 million related to ibis in China; and
- €4 million for the Sebel brand in Australia.
The other Australian brands acquired as part of the Mirvac acquisition and the Caesar Park and Caesar Business brands included in the acquisition of Grupo Posadas’
South American hotel network in 2012 were written down in full in 2012 (see note 13.2).
(2) At December 31, 2013, the net book value of other intangible assets amounted to €219 million, including:
- €97 million in lease premiums, of which €86 million corresponding to the value attributed to Orbis’s land use rights in Poland;
- €50 million corresponding to the value attributed to management contracts of which:
i. €28 million for Grupo Posadas’ network of hotels in Brazil, Argentina and Chile (see note 2.B.4),
ii. €22 million for Mirvac’s Australian management contracts (see note 2.B.3);
- €41 million in key money of which:
i. €16 million for 24 management contracts and 24 franchise contracts in the United Kingdom,
ii. €6 million for management contracts in Australia.
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