QUADIENT - 2019 Universal Registration Document
6
FINANCIAL STATEMENTS Consolidated financial statements
4-2: Intangible fixed assets
4-2-1: ACCOUNTING PRINCIPLES
Intangible fixed assets acquired separately are recognized at acquisition cost. Intangible fixed assets acquired as part of a business combination are recognized at fair value on their acquisition date, separately from goodwill if they meet the two following conditions: they are identifiable, i.e. they result from legal or ● contractual rights; they are separable from the acquired entity. ● Intangible fixed assets include software, patents, lease rights and activated development expenses. Development expenses In accordance with IAS 38, development expenses meeting the following conditions are recognized as intangible fixed assets: the project is clearly identified and the costs relating ● to it are individually identified and reliably monitored;
the technical feasibility of the project has been ● demonstrated; there is a proven intention to complete the project ● and use or sell the products developed under it; the necessary resources for completing the project ● are available; the existence of a potential market for the ● production arising from this project or its internal usefulness has been demonstrated. Such development expenses are amortized over a period of four to ten years, reflecting the average useful life of marketed products. Other intangible fixed assets Other intangible fixed assets are amortized on a straight-line basis over a period representing the best estimate of the assets’ useful life.
4-2-2: CHANGES IN INTANGIBLE FIXED ASSETS
Concessions, rights
Development expenses
IT implementation costs
Software
Other
Total
Gross value at 31 January 2018
34.8
130.7
229.6
58.6 62.8 516.5
Acquisitions/capitalization
0.1
2.6
29.2
-
1.7 33.6
Scope variation
0.0
(8.6)
(21.8)
(0.6)
(14.1)
(45.1)
Disposals
-
(0.8)
(1.6)
-
(0.1)
(2.5)
Other changes
-
0.9
-
(1.4)
(0.7)
(1.2)
Translation difference
0.0
3.2
2.0
0.1
1.4
6.7
Gross value at 31 January 2019
34.9
128.0
237.4
56.7
51.0 508.0
Acquisitions/capitalization
0.1
1.8
31.1
-
2.7 35.7
Scope variation
(0.8)
(4.3)
-
-
(2.5)
(7.6)
Disposals
(1.9)
(10.3)
-
-
(0.1)
(12.3)
Other changes
0.7
1.0
-
-
2.6
4.3
Translation difference
0.1
3.0
5.6
0.3
1.7
10.7
Gross value at 31 January 2020
33.1
119.2
274.1
57.0 55.4 538.8
Cumulative amortization
(31.0)
(107.4)
(184.4)
(51.4) (34.3) (408.5)
NET BOOK VALUE AT 31 JANUARY 2020
2.1
11.8
89.7
5.6
21.1
130.3
The change in intangible fixed assets is mainly due to the capitalization of development costs. The line "Scope variation" includes the reclassification in assets held for sale of the intangible assets of ProShip in 2019 and of Quadient Data Netherlands in 2018. In 2018, this line also included the disposal of the assets of the sold
subsidiary Quadient Data USA and the integration of the acquired intangible assets of Parcel Pending. The other changes mainly include (i) the recognition of the intangible assets as part of the purchase price allocation of Parcel Pending Inc and (ii) to some reclassifications.
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UNIVERSAL REGISTRATION DOCUMENT 2019
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