Note 31 - Intangible assets

Accounting Policy

Intangible assets mainly comprise goodwill in the SpareBank 1 SMN Group. Other intangible assets will be recognised once the conditions for entry in the balance sheet are present. Goodwill arises as the difference between the fair value of the consideration upon purchase of a business and the fair value of identifiable assets and liabilities; see description under Consolidation. Goodwill is not amortised, but is subject to an annual depreciation test with a view to revealing any impairment, in keeping with IAS 36. Testing for value impairment is done at the lowest level at which cash flows can be identified.

Intangible assets acquired separately are carried at cost. Useful economic life is either finite or infinite. Intangible assets with a finite economic life are depreciated over their economic life and tested for impairment upon any indication of impairment. The depreciation method and period are assessed at least once each year.

Amounts recorded on the Bank’s assets are reviewed on the balance sheet date for any indications of value impairment. Should such indications be present, an estimate is made of the asset’s recoverable amount. Each year on the balance sheet date recoverable amounts on goodwill, assets with unlimited useful lifetime, and intangible assets not yet available for use, are computed. Write-downs are undertaken when the recorded value of an asset or cash-flow-generating entity exceeds the recoverable amount. Write-downs are recognised in profit/loss. Write-down of goodwill is not reversed. In the case of other assets, write-downs are reversed where there is a change in the estimates used to compute the recoverable amount.

2022            
Parent Bank   Group
Other
intangible
assets
Goodwill Total (NOK million) Total Goodwill Other
intangible
assets
              24             447             470 Cost of acquisition at 1 January          1.017             842             175
              14                 -               14 Additions               29               13               16
                -                 -                 - Disposals subsidiary*              -258            -183              -75
              38             447             485 Cost of acquisition at 31 December             788             672             116
                -                 -                 -                   -                 -                 -
              13                 -               13 Accumulated depreciation and write-downs as at 1 January             164               34             130
                5                 -                 5 Current period's depreciation                 7                 -                 7
                -                 -                 - Current period's write-down                 0                 0                 -
                -                 -                 - Disposals subsidiary*              -46                 -              -46
              18                 -               18 Accumulated depreciation and write-down as at 31 December             125               34               91
             
              20             447             467 Book value as at 31 December             663             638               25
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* As from fourth quarter 2002 the subsidiary SpareBank1 Markets have been reclassified to investment held for sale. The effect has been presented as disposals.

 

2021            
Parent Bank   Group
Other
intangible
assets
Goodwill Total (NOK million) Total Goodwill Other
intangible
assets
225 447 671 Cost of acquisition at 1 January 1,179 790 389
32 - 32 Additions 89 52 36
-233 - -233 Disposals -251 - -251
- - - Addition from acquistion of companies - - -
24 447 470 Cost of acquisition at 31 December 1,017 842 175
             
156 - 156 Accumulated depreciation and write-downs as at 1 January 274 34 241
23 - 23 Current period's depreciation 32 - 32
-0 - -0 Current period's write-down 31 - 31
-166 - -166 Disposals -173 - -173
- - - Addition from acqusition of companies - - -
13 - 13 Accumulated depreciation and write-down as at 31 December 164 34 130
             
11 447 458 Book value as at 31 December 853 808 45
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Annual report and notes

© SpareBank 1 SMN