REC Silicon Annual Report 2019

48 Notes to the consolidated financial statements, REC Silicon Group REC Silicon Annual Report 2019 Intangible assets (USD INMILLION) ASSETS UNDER DEVELOPMENT OTHER TOTAL INTANGIBLE ASSETS Carrying value at January 1, 2018 11.5 4.1 15.7 Internal Development -0.1 0.0 -0.1 Amortization 0.0 -0.5 -0.5 Impairment 1) 0.0 -3.3 -3.3 Carrying value at December 31, 2018 11.5 0.3 11.8 At December 31, 2018 Historical cost 13.0 67.0 80.0 Accumulated amortization/impairment -1.5 -66.7 -68.2 Carrying value at December 31, 2018 11.5 0.3 11.8 Carrying value at January 1, 2019 11.5 0.3 11.8 Internal Development -10.7 10.7 -0.1 Amortization 0.0 -0.3 -0.3 Impairment 1) -0.2 -10.1 -10.3 Carrying value at December 31, 2019 0.5 0.6 1.1 At December 31, 2019 Historical cost 0.8 67.9 68.7 Accumulated amortization/impairment -0.3 -67.3 -67.6 Carrying value at December 31, 2019 0.5 0.6 1.1 1) See note 8 for details of impairments Intangible assets above have estimated useful lives, over which the assets are amortized on a straight-line basis. Intangible assets under development are not ready for their intended use, and consequently amortization has not started. Intangible assets are primarily related to software (3-5 years) and FBR technology in REC Silicon (10-20 years). Reviews of estimated useful lives of intangible assets for 2019 and 2018 resulted in only minor changes.