Page 50 - Bouvet årsrapport ENG 2010 ePub

Bouvet annual report 2010 50

Note 12: Intangible assets

Intangible assets and goodwill related to added value from the acquisitions of the subsidiaries Nordic Integrator Management AS, Ontopia AS and Bouvet Sverige AB.

NOK 1 000

Customer

relations Software Goodwill Total 2010

Customer

relations Software Goodwill Total 2009

Acquisition cost

Accumulated 1 January 4 726 1 823 18 611 25 160 4 726 1 823 18 611 25 160 Addition purchase of subsidiary 0 0 0 0 0 0 0 0 Disposals of the year 0 0 0 0 0 0 0 0 Accumulated 31 December 4 726 1 823 18 611 25 160 4 726 1 823 18 611 25 160

Depreciation

Accumulated 1 January 1 014 501 0 1 515 542 319 0 860 Disposals of ordinary depreciation 0 0 0 0 0 0 0 0 This year's ordinary depreciation 473 182 0 655 473 182 0 655 Accumulated 31 December 1 487 683 0 2 169 1 014 501 0 1 515

Book value

Book value 1 January 3 712 1 323 18 611 23 647 4 185 1 505 18 611 24 301 Book value 31 December 3 239 1 141 18 611 22 991 3 712 1 323 18 611 23 647

Depreciation rate 10 % 10 % N/A 10 % 10 % N/A Economic life 10 years 10 years not decided 10 years 10 years not decided Depreciation method linear linear N/A linear linear N/A

Depreciation in 2010 and 2009 concerns customer relations and software. Te value of customer relations is based on expected future cash fows before tax, discounted with a relevant discount rate taking into consideration expected term to maturity and risk at the time of group formation. Te value of software is based on expected future maintenance income.

Goodwill is not depreciated, but an impairment test is carried out at least once a year. Impairment testing of goodwill is discussed in note 13.