Boskalis_Annual_Report_2016

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15. INTANGIBLE ASSETS
GOODWILL OTHER TOTAL
Balance as at 1 January 2016
Cost 489,385 135,131 624,516
Accumulated amortization and impairments - - 91,236 - 91,236
Carrying amount 489,385 43,895 533,280
Movements
Acquired through business combination VolkerWessels offshore activities 154,939 103 155,042
Reclassified to Assets held for sale - - 723 - 723
Amortization - - 8,461 - 8,461
Impairment losses - 382,269 - - 382,269
Currency translation differences and other movements - 10,039 690 - 9,349
- 237,369 - 8,391 - 245,760
Balance as at 31 December 2016
Cost 653,323 130,234 783,557
Accumulated amortization and impairments - 401,307 - 94,730 - 496,037
Carrying amount 252,016 35,504 287,520
GOODWILL OTHER TOTAL
Balance as at 1 January 2015
Cost 458,607 142,521 601,128
Accumulated amortization and impairments - - 83,460 - 83,460
Carrying amount 458,607 59,061 517,668
Movements
Amortization - - 12,722 - 12,722
Currency translation differences and other movements 30,778 - 2,444 28,334
30,778 - 15,166 15,612
Balance as at 31 December 2015
Cost 489,385 135,131 624,516
Accumulated amortization and impairments - - 91,236 - 91,236
Carrying amount 489,385 43,895 533,280
The goodwill on the offshore activities acquired from VolkerWessels in 2016 is part of the goodwill relating
to the cash-generating unit Offshore Energy.
Currency translation differences mainly relate to the goodwill and other intangible assets resulting from the
acquisitions of Dockwise and Fairmount, both of which are denominated in USD. The acquiring Group
company has the USD as its functional currency, following the USD as functional currency of the acquired
Group companies.
GOODWILL 15.1
For the purpose of impairment testing, goodwill is allocated to the cash-generating units (CGU) which
represent the lowest level within the Group at which the goodwill is monitored for internal management
purposes. This does not exceed the level of Group’s operating segments reported in on Segment
reporting.
Goodwill is allocated to the following cash-generating units:
CASH-GENERATING UNIT OPERATIONAL SEGMENT 2016 2015
Offshore Energy Offshore Energy 154,939 392,308
Inland Infra Dredging & Inland Infra 46,607 46,607
Salvage Towage & Salvage 36,875 36,875
Dredging Dredging & Inland Infra 13,595 13,595
Total 252,016 489,385
When conducting impairment tests on goodwill, the recoverable amounts are determined based on value-in-
use calculations. Value-in-use is determined by discounting the expected future cash flows from the
continuing operations of the CGU.
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ANNUAL REPORT 2016 – BOSKALIS