EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

Impairment/reversals Note 14

14.1

Impairment by category of asset

Details of impairment recognised and reversed are as follows:

2019

Notes

2018*

(in millions of euros)

21 22

Impairment of goodwill

(57) (47)

-

Impairment of other intangible assets

(52)

24-25

Impairment of tangible assets

(299) (403)

(238) (290)

IMPAIRMENT NET OF REVERSALS

Restated for the impacts of IFRS 5 concerning the discontinued E&P operations (see note 2.3). *

In 2018, the €(290) million of impairment recorded concerned: thermal assets: €(122) million in the United Kingdom; ■ various CGUs of EDF Renewables (particularly a wind farm and a biomass ■ technology company in the United States): €(103) million; intangible assets other than goodwill: €(52) million, notably including impairment ■ of €(34) million in respect of the British Energy brand.

Impairment of €(39) million was also booked at 31 December 2018 in respect of associates (see note 26). Impairment recognised in 2019 amounts to €(403) million. Details are given below.

14.2

Impairment tests on goodwill, intangible assets and property, plant and equipment

The following tables present the results of impairment tests carried out on the main goodwill, intangible assets with indefinite useful lives and other Group assets in 2019, and some of the key assumptions used.

For application of IFRS 16 at 1 January 2019, where relevant the Group adapted the impairment test methodology as appropriate to the specific features of each CGU.

IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES

Impairment 2019 (in millions of euros)

Cash-Generating Unit or asset

Net book value (in millions of euros)

Growth rate to infinity

Operating segment

WACC after tax

United Kingdom

EDF Energy goodwill

7,653

6.0% 6.1%

-

- -

Edison brand

945

2.0%

Zephyro goodwill (energy services) Framatome goodwill

Italy

17

6.1% 5.7% 4.3% 6.3%

-

(17)

Framatome

1,326

0.5% 1.7% 1.7%

- -

Dalkia goodwill

555

Poland CGU goodwill

8 5

(8) (5)

Dalkia Wastenergy goodwill

-

-

Dalkia

Dalkia brand

137

4.8%

1.7% 1.5%

-

EDF Renewables

Futuren goodwill (Germany)

17

4.25%

(17) (10) (57)

Other impairment

IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES

322

EDF | Universal registration document 2019

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