Euronext // 2021 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

NOTE 18 GOODWILL AND OTHER INTANGIBLE ASSETS

Fair value adjustment Intangible assets recognised on acquisition of subsidiaries

Purchased softw. Constr. in Pr.Patents & TrMr

Internally developed software

Customer Relations

Brand Names (a)

Goodwill

Software

Total

In thousands of euros

As at 31 December 2019 Cost

1,145,397

140,018

49,167

51,963

296,836

7,299 1,690,680

Accumulated amortisation and impairment

(53,341)

(109,795)

(44,113)

(11,152)

(13,519)

— (231,920)

Net book amount

1,092,056 1,092,056

30,223 30,223

5,054 5,054

40,811 40,811

283,317 283,317

7,299 1,458,760 7,299 1,458,760

As at 1 January 2020 net book amount

Exchange differences

(43,039)

(380)

(133)

(2,967)

(16,469)

(691)

(63,679)

Additions

—

11,219

1,350

—

—

— 12,569

Impairment charge / write off

—

—

(1,549)

—

—

— (1,549)

Transfers and other

758

231

(797)

—

—

—

192

Acquisitions of subsidiaries

49,655

16,439

3,768

34,420

48,151

9,779

162,212

Amortisation charge (Note 10)

—

(8,218)

(1,973)

(9,825)

(12,352)

— (32,368)

As at 31 December 2020 net book amount

1,099,430

49,514

5,720

62,439

302,647

16,387 1,536,137

As at 31 December 2020 Cost

1,153,753

172,229

55,574

82,982

327,916

16,387 1,808,841

Accumulated amortisation and impairment

(54,323)

(122,715)

(49,854)

(20,543)

(25,269)

— (272,704)

Net book amount

1,099,430 1,099,430

49,514 49,514

5,720 5,720

62,439 62,439

302,647 302,647

16,387 1,536,137 16,387 1,536,137

As at 1 January 2021 net book amount

Exchange differences

31,675

399

70

1,753

11,787

587

46,271

Additions

—

29,082

5,141

—

—

— 34,223

Impairment charge / write off

—

(611)

88

—

— (6,050)

(6,573)

Transfers and other

—

(18,212)

18,212

—

—

—

—

Acquisitions of subsidiaries (Note 5)

2,815,399

10,161

20,729

85,500 1,707,297

20,700 4,659,786

Sales of subsidiaries

(1,090)

(182)

— (2,955)

(557)

— (4,784)

Amortisation charge (Note 10)

—

(10,464)

(12,714)

(18,238)

(44,413)

(1,164)

(86,993)

As at 31 December 2021 net book amount

3,945,414

59,687

37,246

128,499 1,976,761

30,460 6,178,067

As at 31 December 2021 Cost

3,999,783

189,510

239,682

171,228 2,048,011

37,675 6,685,889

Accumulated amortisation and impairment

(54,369)

(129,823)

(202,436)

(42,729)

(71,250)

(7,215)

(507,822)

Net book amount

3,945,414

59,687

37,246

128,499 1,976,761

30,460 6,178,067

(a) As per 31 December 2021, brand names include brands with a finite useful live for an amount of €4.2 million (2020: nil).

Goodwill impairment test Goodwill is monitored and tested for impairment at the lowest CGU Group level of the Group to which goodwill acquired in a business combination is allocated (see Note 3). Following the acquisitions of Euronext FX (former FastMatch Inc.) in 2017 and Nord Pool Holding AS in 2020 and the allocation of goodwill from those transactions to respectively the “FX Trading” CGU and the “Nord Pool” CGU, the Group tests goodwill at the level of three CGUs (Groups): “Euronext”, “FX Trading” and “Nord Pool”. The acquisition of Borsa Italiana Group is included in the Euronext CGU.

Euronext CGU (Group) The recoverable value of the “Euronext” CGU Group is based on its fair value less cost of disposal, applying a discounted cash flow approach, and corroborated by observation of Company’s market capitalisation. The fair value measurement uses significant unobservable inputs and is therefore categorised as a Level 3 measurement under IFRS 13. Cash flow projections are derived from the 2022 budget and the business plan for 2023. Key assumptions used by management include third party revenue growth, which factors future volumes of European equity markets, the Group’s market share, average fee per transaction, and the expected impact of new product initiatives.

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2021 UNIVERSAL REGISTRATION DOCUMENT