| |
Indefinite life intangibles
| |
|
2018
R’000 |
|
|
|
|
2017
R’000 |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
2 996 158 |
|
|
|
|
1 321 143 |
|
|
| Cost |
|
3 872 610 |
|
|
|
|
2 249 644 |
|
|
| Accumulated amortisation and impairments |
|
(876 452) |
|
|
|
|
(928 501) |
|
|
| Computer software |
|
344 502 |
|
|
|
|
295 323 |
|
|
| Cost |
|
1 022 550 |
|
|
|
|
928 996 |
|
|
| Accumulated amortisation and impairments |
|
(678 048) |
|
|
|
|
(633 673) |
|
|
| Capital work-in-progress |
|
27 146 |
|
|
|
|
51 244 |
|
|
| |
|
3 367 806 |
|
|
|
|
1 667 710 |
|
|
| Movement in intangible assets |
|
|
|
|
|
|
|
|
|
| Carrying value at beginning of year |
|
1 667 710 |
|
|
|
|
929 960 |
|
|
| Additions |
|
123 754 |
|
|
|
|
159 421 |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
8 919 |
|
|
|
|
5 126 |
|
|
| Computer software |
|
138 811 |
|
|
|
|
109 219 |
|
|
| Capital work-in-progress |
|
(23 976) |
|
|
|
|
45 076 |
|
|
| Expenditure |
|
18 510 |
|
|
|
|
45 219 |
|
|
| Transfers to other categories |
|
(42 486) |
|
|
|
|
(143) |
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisition of businesses |
|
1 666 779 |
|
|
|
|
684 799 |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
1 663 528 |
|
|
|
|
678 076 |
|
|
| Computer software |
|
3 251 |
|
|
|
|
6 723 |
|
|
| Disposals |
|
(5 816) |
|
|
|
|
(8 984) |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
(2 922) |
|
|
|
|
(3 050) |
|
|
| Computer software |
|
(2 772) |
|
|
|
|
(5 934) |
|
|
| Capital work in progress |
|
(122) |
|
|
|
|
– |
|
|
| Disposal and disposal groups held for sale |
|
(9 870) |
|
|
|
|
(94) |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
(9 870) |
|
|
|
|
(8) |
|
|
| Computer software |
|
– |
|
|
|
|
(86) |
|
|
| Exchange rate adjustments |
|
63 137 |
|
|
|
|
(2 188) |
|
|
| Patents, trademarks, tradenames and other intangibles |
|
63 137 |
|
|
|
|
(2 183) |
|
|
| Computer software |
|
– |
|
|
|
|
(5) |
|
|
| Amortisation (refer note 2) |
|
(136 773) |
|
|
|
|
(95 204) |
|
|
| Impairment (refer note 2) |
|
(1 115) |
|
|
|
|
– |
|
|
| Carrying value at end of year |
|
3 367 806 |
|
|
|
|
1 667 710 |
|
|
|
|
|
|
|
|
|
|
|
|
Included in patents, trademarks, tradenames and other intangibles arising on the acquisition of businesses in the current year
are indefinite life intangibles totalling R883 million, which relate to Bidvest Services. Indefinite life intangibles arising on previous
acquisitions amount to R1 259 million, R964 million relating to Bidvest Commercial Products and R295 million to Bidvest Services.
These intangibles were subject to review for impairment, together with the goodwill relating to these CGU’s (refer note 16).
Significant surpluses were identified over the carrying values of the CGU’s and thus the directors believe that a reasonably possible
change in the multiples, would not result in an impairment of the carrying value of these intangibles. The valuation method used is
considered a Level 3 type valuation in accordance with IFRS 13 – Fair Value measurement.
The amortisation and impairment charges are included in operating expenses in the consolidated income statement. |