|
|
Brands |
|
Other |
|
Advance payments or payments in progress |
|
Total |
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
227.6 |
|
1,093.6 |
|
57.0 |
|
1,378.2 |
Accumulated amortization and impairment |
|
–19.5 |
|
–1,013.3 |
|
–0.1 |
|
–1,032.9 |
Carrying amount as of April 1, 2015 |
|
208.1 |
|
80.3 |
|
56.9 |
|
345.3 |
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
227.6 |
|
1,263.9 |
|
56.3 |
|
1,547.8 |
Accumulated amortization and impairment |
|
–25.2 |
|
–1,108.5 |
|
0.0 |
|
–1,133.7 |
Carrying amount as of March 31, 2016 |
|
202.4 |
|
155.4 |
|
56.3 |
|
414.1 |
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
227.6 |
|
1,322.5 |
|
50.0 |
|
1,600.1 |
Accumulated amortization and impairment |
|
–30.9 |
|
–1,149.8 |
|
0.0 |
|
–1,180.7 |
Carrying amount as of March 31, 2017 |
|
196.7 |
|
172.7 |
|
50.0 |
|
419.4 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||
The “Brands” column contains brands with an indefinite useful life amounting to EUR 170.6 million. It also includes a capital market funding advantage associated with the brand name Böhler-Uddeholm. The amortization period of the capital market funding advantage is ten years.
Intangible assets with unlimited useful life
The following cash-generating units and groups of cash-generating units contain brands with indefinite useful lives:
|
|
2015/16 |
|
2016/17 |
|
|
|
|
|
High Performance Metals Division |
|
155.4 |
|
155.4 |
|
|
|
|
|
Welding Consumables |
|
12.6 |
|
12.6 |
Total Metal Engineering Division |
|
12.6 |
|
12.6 |
|
|
|
|
|
Precision Strip |
|
2.6 |
|
2.6 |
Total Metal Forming Division |
|
2.6 |
|
2.6 |
|
|
|
|
|
voestalpine Group |
|
170.6 |
|
170.6 |
|
|
|
|
|
In millions of euros |
||||
The period during which these trademark rights are expected to generate cash flows is not subject to a foreseeable limit. Trademark rights are therefore not subject to wear and tear and are not amortized. No impairments have arisen.
The following table shows a reconciliation of the carrying amounts of other intangible assets for the periods presented in the consolidated financial statements as of March 31, 2017:
|
|
Brands |
|
Other |
|
Advance payments or payments in progress |
|
Total |
|
|
|
|
|
|
|
|
|
Carrying amount as of April 1, 2015 |
|
208.1 |
|
80.3 |
|
56.9 |
|
345.3 |
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidated financial statements |
|
0.0 |
|
124.0 |
|
0.0 |
|
124.0 |
Additions |
|
0.0 |
|
20.1 |
|
17.8 |
|
37.9 |
Transfers |
|
0.0 |
|
19.3 |
|
–18.2 |
|
1.1 |
Disposals |
|
0.0 |
|
–0.1 |
|
0.0 |
|
–0.1 |
Amortization |
|
–5.7 |
|
–47.4 |
|
0.0 |
|
–53.1 |
Impairment |
|
0.0 |
|
–38.8 |
|
0.0 |
|
–38.8 |
Net exchange differences |
|
0.0 |
|
–2.0 |
|
–0.2 |
|
–2.2 |
Carrying amount as of March 31, 2016 |
|
202.4 |
|
155.4 |
|
56.3 |
|
414.1 |
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidated financial statements |
|
0.0 |
|
7.9 |
|
0.0 |
|
7.9 |
Additions |
|
0.0 |
|
23.3 |
|
16.0 |
|
39.3 |
Transfers |
|
0.0 |
|
27.0 |
|
–22.5 |
|
4.5 |
Disposals |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
Amortization |
|
–5.7 |
|
–40.7 |
|
0.0 |
|
–46.4 |
Impairment |
|
0.0 |
|
–1.7 |
|
0.0 |
|
–1.7 |
Net exchange differences |
|
0.0 |
|
1.5 |
|
0.2 |
|
1.7 |
Carrying amount as of March 31, 2017 |
|
196.7 |
|
172.7 |
|
50.0 |
|
419.4 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||
The functional areas of cost of sales, distribution costs, administrative expenses, and other operating expenses may include amortization of intangible assets.
As of March 31, 2017, commitments for the acquisition of intangible assets amounted to EUR 1.0 million (March 31, 2016: EUR 5.0 million). Additions to “Advance payments or payments in progress” contain EUR 15.1 million (March 31, 2016: EUR 13.7 million) in capitalized development costs for a software project intended to map cross-company business processes and business processes that have been harmonized within the Steel Division. The carrying amount in the other intangible assets as of March 31, 2017 amounts to EUR 76.9 million (March 31, 2016: EUR 60.2 million); the expected useful life is ten years.
Impairment losses and reversal of impairment losses
In the business year 2016/17, impairment losses of EUR 1.7 million (March 31, 2016: EUR 38.8 million) were recognized on intangible assets for a cash-generating unit in the Metal Engineering Division that works with the production of seamless tubes due to ongoing negative market trends, in particular as a result of continued competitive pressure. These are recognized under other operating expenses. The recoverable amount for these assets is EUR 37.9 million (March 31, 2016: EUR 48.2 million). A pre-tax discount rate of 5.71% was applied (March 31, 2016: between 6.01% and 6.99%).
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