10. Goodwill and other intangible assets

      Goodwill

       

       

      03/31/2020

       

      03/31/2021

       

      03/31/2022

       

       

       

       

       

       

       

      Gross carrying amount

       

      1,563.6

       

      1,563.0

       

      1,564.8

      Impairment losses

       

      –68.7

       

      –93.8

       

      –93.8

      Reclassification of discontinued operations

       

      0.0

       

      0.0

       

      –22.4

      Carrying amount

       

      1,494.9

       

      1,469.2

       

      1,448.6

       

       

       

       

       

       

       

      In millions of euros

      The following table shows the reconciliation of the carrying amounts of goodwill for the periods presented in the Consolidated Financial Statements as of March 31, 2022:

       

       

      Goodwill

       

       

       

      Carrying amount as of April 1, 2020

       

      1,494.9

       

       

       

      Additions

       

      0.9

      Impairment losses

       

      –25.0

      Net exchange differences

       

      –1.6

      Carrying amount as of March 31, 2021

       

      1,469.2

       

       

       

      Net exchange differences

       

      1.8

      Reclassification of discontinued operations

       

      –22.4

      Carrying amount as of March 31, 2022

       

      1,448.6

       

       

       

      In millions of euros

      Details on the impairment of goodwill are explained in Note 11. Impairment losses and reversal of impairment losses.

      Other intangible assets

       

       

      Trademarks

       

      Other

       

      Advance payments or payments in progress

       

      Total

       

       

       

       

       

       

       

       

       

      Gross carrying amount

       

      227.6

       

      1,437.3

       

      3.3

       

      1,668.2

      Accumulated amortization and impairment

       

      –48.0

       

      –1,281.6

       

      0.0

       

      –1,329.6

      Carrying amount as of April 1, 2020

       

      179.6

       

      155.7

       

      3.3

       

      338.6

       

       

       

       

       

       

       

       

       

      Gross carrying amount

       

      227.6

       

      1,436.3

       

      5.1

       

      1,669.0

      Accumulated amortization and impairment

       

      –53.7

       

      –1,308.1

       

      0.0

       

      –1,361.8

      Carrying amount as of March 31, 2021

       

      173.9

       

      128.2

       

      5.1

       

      307.2

       

       

       

       

       

       

       

       

       

      Gross carrying amount

       

      227.6

       

      1,450.8

       

      16.2

       

      1,694.6

      Accumulated amortization and impairment

       

      –57.0

       

      –1,337.5

       

      0.0

       

      –1,394.5

      Reclassification of discontinued operations

       

      0.0

       

      –10.2

       

      0.0

       

      –10.2

      Carrying amount as of March 31, 2022

       

      170.6

       

      103.1

       

      16.2

       

      289.9

       

       

       

       

       

       

       

       

       

      In millions of euros

      The “Trademarks” column contains trademarks with an indefinite useful life in the amount of EUR 170.6 million (2020/21: EUR 170.6 million). In the previous business year, it also included a capital market funding advantage associated with the brand name “Böhler-Uddeholm.” The capital market funding advantage was amortized over a period of ten years ending in the business year 2021/22.

      Intangible assets with an unlimited useful life

      The following cash generating units (CGUs) and groups of CGUs contain trademarks with an indefinite useful life:

       

       

      2020/21

       

      2021/22

       

       

       

       

       

      High Performance Metals Division

       

      155.4

       

      155.4

       

       

       

       

       

      Welding

       

      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 trademarks are expected to generate cash flows is not subject to a foreseeable limit. Hence trademarks are not subject to wear and tear and are not amortized. No impairments have arisen.

      The following table shows the reconciliation of the carrying amounts of the other intangible assets for the periods presented in the Consolidated Financial Statements as of March 31, 2022:

       

       

      Trademarks

       

      Other

       

      Advance payments or payments in progress

       

      Total

       

       

       

       

       

       

       

       

       

      Carrying amount as of April 1, 2020

       

      179.6

       

      155.7

       

      3.3

       

      338.6

       

       

       

       

       

       

       

       

       

      Changes in the scope of consolidation

       

      0.0

       

      0.2

       

      0.0

       

      0.2

      Additions

       

      0.0

       

      8.5

       

      4.3

       

      12.8

      Transfers

       

      0.0

       

      5.8

       

      –2.4

       

      3.4

      Disposals

       

      0.0

       

      –1.1

       

      –0.1

       

      –1.2

      Amortization

       

      –5.7

       

      –39.7

       

      0.0

       

      –45.4

      Impairment losses

       

      0.0

       

      0.0

       

      0.0

       

      0.0

      Net exchange differences

       

      0.0

       

      –1.2

       

      0.0

       

      –1.2

      Carrying amount as of March 31, 2021

       

      173.9

       

      128.2

       

      5.1

       

      307.2

       

       

       

       

       

       

       

       

       

      Changes in the scope of consolidation

       

      0.0

       

      0.0

       

      0.0

       

      0.0

      Additions

       

      0.0

       

      13.1

       

      13.3

       

      26.4

      Transfers

       

      0.0

       

      8.6

       

      –2.2

       

      6.4

      Disposals

       

      0.0

       

      0.0

       

      0.0

       

      0.0

      Amortization

       

      –3.3

       

      –38.2

       

      0.0

       

      –41.5

      Impairment losses

       

      0.0

       

      –0.2

       

      0.0

       

      –0.2

      Net exchange differences

       

      0.0

       

      1.8

       

      0.0

       

      1.8

      Reclassification of discontinued operations

       

      0.0

       

      –10.2

       

      0.0

       

      –10.2

      Carrying amount as of March 31, 2022

       

      170.6

       

      103.1

       

      16.2

       

      289.9

       

       

       

       

       

       

       

       

       

      In millions of euros

      The functional classifications—cost of sales, distribution costs, administrative expenses, and other operating expenses—may include amortization of intangible assets.

      As of March 31, 2022, commitments for the acquisition of intangible assets were EUR 0.1 million (March 31, 2021: EUR 0.0 million). As of March 31, 2022, other intangible assets include a software project designed to map business processes across companies and business processes that have been harmonized in the Steel Division, with a carrying amount of EUR 44.5 million (March 31, 2021: EUR 59.3 million) and a remaining useful life of three years.

      Acquisition
      Takeover or purchase of companies or of interests in companies.