NOTE | 31/12/2014 | 31/12/2013 (restated data) | |
---|---|---|---|
Internally generated intangible assets | 14.1 | 12 | 20 |
Other | 12 | 20 | |
Other intangible assets | 14.2 | 691 | 803 |
Patents, trade marks and licenses | 302 | 353 | |
Goodwill | 38 | 34 | |
Rights | 14.5 | 189 | 270 |
Other | 162 | 146 | |
703 | 823 |
14.1. The changes in internally generated intangible assets
As at 31 December 2014 and as at 31 December 2013, there were no significant changes in internally generated intangible assets. As at 31 December 2014, impairment allowances on internally generated intangible assets amounted to PLN 8 million. For the year 2014, recognition and reversal of impairment allowances amounted to PLN (6) million and PLN 1 million, respectively.
14.2. The changes in other intangible assets
Patents, trade marks and licenses | Goodwill | Rights | Other | Total | |
---|---|---|---|---|---|
01/01/2014 Net carrying amount |
|||||
Gross carrying amount | 1 195 | 371 | 382 | 160 | 2 108 |
Accumulated depreciation and impairment allowances | (842) | (337) | (112) | (14) | (1 305) |
353 | 34 | 270 | 146 | 803 | |
increases/(decreases), net | |||||
Investment expenditures | 28 | - | - | 38 | 66 |
Amortisation | (73) | - | - | - | (73) |
Acquisition of subsidiary | 3 | - | - | - | 3 |
Impairment allowances* | (19) | - | 46 | (2) | 25 |
Reclassifications | 14 | - | - | - | 14 |
Sale | - | - | (301) | - | (301) |
Government grants - received | (3) | - | - | - | (3) |
Other increases/(decreases) | (4) | (2) | 172 | (19) | 147 |
Foreing exchange differences | 3 | 6 | 2 | (1) | 10 |
31/12/2014 Net carrying amount |
302 | 38 | 189 | 162 | 691 |
Gross carrying amount | 1,250 | 374 | 256 | 179 | 2,059 |
Accumulated depreciation and impairment allowances | (945) | (336) | (67) | (17) | (1 365) |
Government grants | (3) | - | - | - | (3) |
302 | 38 | 189 | 162 | 691 | |
01/01/2013 Net carrying amount |
|||||
Gross carrying amount | 1,229 | 374 | 786 | 78 | 2,467 |
Accumulated depreciation and impairment allowances | (789) | (337) | (99) | (24) | (1 249) |
440 | 37 | 687 | 54 | 1,218 | |
increases/(decreases), net | |||||
Investment expenditures | 12 | - | - | 60 | 72 |
Amortisation | (75) | - | - | - | (75) |
Impairment allowances* | (9) | (3) | (15) | 5 | (22) |
Reclassifications | (2) | - | 10 | 135 | 143 |
Sale | - | - | (40) | - | (40) |
Other increases/(decreases) | 3 | (2) | (367) | (106) | (472) |
Foreing exchange differences | (16) | 2 | (5) | (2) | (21) |
31/12/2013 Net carrying amount |
353 | 34 | 270 | 146 | 803 |
Other increases/(decreases) of property rights in the net book value consist mainly of purchases, acquisitions free of charge and settlement of rights for 2014 and 2013. Additional information in note 14.5.
* Impairment allowances include recognition, reversal, usage and reclassification and acquisition of subsidiary.
14.3. Changes in impairment allowances of other intangible asset
As at 31 December 2014 and as at 31 December 2013, they were no significant changes in impairment allowances of other intangible assets. Therefore the Group do not disclose any detailed information.
For 2014 and 2013 recognition of impairment allowances amounted to PLN (24) million and PLN (51) million, respectively and reversal of impairment allowances amounted to PLN 4 million and PLN 2 million, respectively.
14.4. Other information on intangible assets
31/12/2014 | 31/12/2013 (restated data) | |
---|---|---|
The gross carrying amount of all fully amortised intangible assets still in use | 489 | 488 |
The net carrying amount of intangible assets with indefinite useful life | 11 | 11 |
The net carrying amount of intangible assets of withdrawn from use and not classified as held for sale | 1 | 1 |
Should the economic useful lives of intangible assets from 2013 be applied in 2014, amotisation expense would be higher by PLN 4 million.
The net book value of intangible assets with indefinite useful life includes expenses related to registration of produced or imported chemicals, so called REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) and goodwill.
14.5. Rights
14.5.1. CO2 emission rights
Change in owned CO2 emission rights in 2014
Quantitiy (in thous. tonnes) | Value | |
---|---|---|
01/01/2014 | 9 715 | 258 |
Granted free of charge for 2013 and 2014 | 16 994 | 397 |
Settlement for 2013 | (13 147) | (365) |
Purchase/(Sale), net | (5 976) | (161) |
Impairment allowances | - | 46 |
Foreign exchange differences | - | 2 |
7 586 | 177 | |
CO₂ emission in 2014 | 12 756 | 334 |
In connection with the forecasted shortage of allowances for the years 2013-2020, the Group entered into transactions to hedge future purchase price of allowances. The concluded transactions cover a substantial part of the expected shortage for the period. As at 31 December 2014 the market value of one EUA amounted to PLN 30.86 (representing EUR 7.24 at exchange rate as at 31 December 2014) (source: www.theice.com).
Additionally, as at 31 December 2014 the Group recognized the rights to so called colorfull energy of PLN 12 million.