2014 Registration Document and Annual Financial Report - page 215

5
Financial Statemements
Consolidated Financial Statements and Notes
Changes in the carrying amount of goodwill over the period were as follows:
(inmillions of euros)
Notes
2013 Adjusted
2014
CARRYINGAMOUNT AT BEGINNING OF PERIOD
823
691
Goodwill recognized on acquisitions for the period and other increases
1
2
ƒƒ
Hotels, Asia Pacific
(a)
1
-
ƒƒ
Hotels, Europe
(b)
-
2
Disposals
(c)
(30)
(2)
Impairment losses
Note 14
(7)
(3)
Translation adjustment
(d)
(38)
12
Reclassifications to Property, Plant and Equipment
(e)
(60)
-
Reclassifications to Assets held for sale
Note 33
3
(1)
Other reclassifications and movements
(1)
2
CARRYINGAMOUNT AT END OF PERIOD
691
701
(a) In 2012, Accor bought Mirvac, generating goodwill of €19.7 million. An additional €1.5 million in goodwill was recorded in 2013, after Accor took over the SeaTemple
management contract.
(b) In 2014, Accor acquired the remaining shares in the ibis Suresnes operating company, which was previously 24%-owned and accounted for by the equity method.
(c) In 2013, disposals include the Group’s interest inTAHL, Australia (see Note 3.C), leading to the write-off of net goodwill in the amount of (€24.1 million).
(d) At December 31, 2014, this amount is due to the rise of the Australian and American dollars. In 2013, this amount is due to the fall in the Australian dollar.
(e) In 2012, the difference between the cost of Grupo Posadas’ hotel network in South America and the book value of the net assets acquired amounted to €160 million.
In 2013, part of the difference (€50 million) was allocated to the assets and liabilities acquired and (€10 million) in price adjustment were obtained.
NOTE 20
INTANGIBLE ASSETS
(inmillions of euros)
HotelServices HotelInvest
Corporate/
Intercos
Dec. 2014
Dec. 2013
Adjusted
Brands and rights
(1)
28
24
12
64
59
Licenses, software
88
44
59
191
173
Other intangible assets
(2)
173
106
4
283
276
Total intangible assets at cost
289
174
75
538
508
Brands and rights
(1)
(23)
(2)
(11)
(36)
(36)
Licenses, software
(60)
(35)
(52)
(147)
(132)
Other intangible assets
(2)
(56)
(16)
-
(72)
(59)
Total accumulated amortization
and impairment losses
(139)
(53)
(63)
(255)
(227)
INTANGIBLE ASSETS, NET
150
121
12
283
281
(1) The carrying amount of other brands and rights was €28 million at December 31, 2014 including, for HotelInvest:
- €8 million related to ibis and €4 million related to Mercure in France<0} (Graff portfolio – cf. Note 2.B.8);
- €7 million related to Pullman in Brazil (concession fees);
- €3 million related to ibis in China; and
For HotelServices, €5 million for the Sebel brand in Australia.
(2) At December 31, 2014, the net book value of other intangible assets amounted to €211 million, including:
- €91 million in lease premiums, of which €79 million corresponding to the value attributed to Orbis’s land use rights in Poland;
- €38 million corresponding to the value attributed to management contracts for HotelServices of which:
(i) €21 million for Mirvac’s Australian management contracts,
(ii) €17 million for Grupo Posadas’ network of hotels in Brazil, Argentina and Chile;
- €49 million in key money for HotelInvest of which:
(i) €18 million for 24 management contracts and 26 franchise contracts in the United Kingdom,
(ii) €9 million for management contracts in Australia.
Registration Document 2014
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