Note 32 - Intangible assets

 

31 Dec 2017           
Parent Bank   Group
Other intangible assets Goodwill Total (NOK million) Total Goodwill Other intangible assets
59 447 506 Cost of acquisition at 1 January 737 573 164
70 - 70 Additions 239 108 131
-0 - -0 Disposals -2 - -2
 -  - - Subsidiaries disposal -39 - -39
128 447 575 Cost of acquisition at 31 December 935 681 254
             
36 - 36 Accumulated depreciation and write-downs as at 1 January 97 7 90
18 - 18 Current period's depreciation 24 - 24
- - - Current period's write-down 1 1 -
-0 - -0 Disposals -0 - -0
- - - Subsidiaries' acquisitions 19 19 -
54 - 54 Accumulated depreciation and write-down as at 31 December 141 28 113
             
75 447 522 Book value as at 31 December 793 653 141

 

31 Dec 2016           
Parent Bank   Group
Other
intangible
assets
Goodwill Total (NOK million) Total Goodwill Other
intangible
assets
44 447 491 Cost of acquisition at 1 January 636 530 106
24 - 24 Acquisitions 118 43 75
-9 - -9 Disposals -17 - -17
59 447 506 Cost of acquisition at 31 December 737 573 164
             
25 - 25 Accumulated depreciation and write-downs as at 1 January 74 2 72
15 - 15 Current period's depreciation 21 - 21
- - - Current period's write-down 8 5 3
-4 - -4 Disposals -6 - -6
36 - 36 Accumulated depreciation and write-down as at 31 December 97 7 90
             
23 447 470 Book value as at 31 December 639 565 74

NOK 447m of the parent bank’s balance sheet value refers to excess value in connection with the purchase of 100 per cent of Romsdals Fellesbank in 2005. The amount at group level refers to the parent bank’s purchase of Romsdals Fellesbank as described above, the merger and acquisition of estate agencies from EiendomsMegler 1 Midt-Norge, and SpareBank 1 Regnskapshuset SMN’s acquisitions of accounting firms. The year’s increase of NOK 108m at group level relates to further acquisitions undertaken in 2017.

Goodwill items are valued annually and written down if impairment tests imply reduction in value. EiendomsMegler 1 Midt-Norge made a write down of goodwill of NOK 1.2m in 2017.

See note 3 - Critical estimates and assessments concerning the use of accounting principles -for a description of the valuation model for goodwill.

Annual report and notes

© SpareBank 1 SMN