Hexagon Annual Report 2019

NOTE 11 INTANGIBLE ASSETS (NOK 1 000) GOODWILL PATENTS AND LICENCES TECHNOLOGY AND DEVELOPMENT 1) CUSTOMER RELATION- SHIPS 2019 TOTAL COST PRICE Opening balance 01.01.2019 437 574 20 034 141 808 130 122 729 539 Additions from purchase of companies 921 597 170 074 47 754 313 516 1 452 941 Additions 221 13 927 38 162 0 52 311 Disposals 0 0 0 0 0 Translation differences 15 762 6 623 1 028 5 381 25 794 Cost of acquisition 31.12.2019 1 375 155 207 659 228 752 449 019 2 260 585 ACCUMULATED DEPRECIATION AND IMPAIRMENT Opening balance 01.01.2019 274 14 900 64 762 48 742 128 678 Amortization for the year 0 9 213 15 810 33 860 58 882 Impairment 0 0 0 0 0 Disposals 0 0 0 0 0 Additions from purchase of companies 0 0 0 0 0 Translation differences 0 -12 0 -257 -269 Accumulated depreciation and impairment 31.12.2019 274 24 100 80 572 82 345 187 291 Net carrying amount 31.12.2019 1 374 881 183 558 148 180 366 674 2 073 294 Amortization rate None 6-34 % 5-20 % 6-14 % Useful life Indefinite 3-17 years 5-20 years 7-16 years Depreciation method None Straight-line Straight-line Straight-line Addition of MNOK 1 453 relates to the acquisition of Agility Fuel Solutions (see note 5). 1) Consist mainly of internally developed technology HEXAGON COMPOSITES ASA HAS THE FOLLOWING PURCHASED AND OWN-DEVELOPED INTANGIBLE ASSETS 35 121 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS