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Changes in intangible assets (by group) in the year ended 31 December 2014
| Costs of completed development works | Acquired concession, patents, licenses and similar items, including: | Computer software | Intangible assets under construction | Other intangible assets | Total intangible assets | |
|---|---|---|---|---|---|---|
| Gross value of intangible assets – opening balance | - | 764,179 | 649,709 | 185,704 | 1,961 | 951,844 |
| Increases (due to): | 50,355 | 201,713 | 187,219 | 132,885 | 539,393 | 924,346 |
| - purchase | 469 | 9,682 | 8,409 | 129,640 | 128 | 139,919 |
| - change in group composition | 49,798 | 76,031 | 67,273 | 2,072 | 539,265 1) | 667,166 |
| - reclassification from intangible assets under construction | 88 | 115,898 | 111,435 | - | - | 115,986 |
| - other | - | 102 | 102 | 1,173 | - | 1,275 |
| Decreases (due to): | - | -22,601 | -18,911 | -130,753 | -585 | -153,939 |
| - liquidation | - | -7,739 | -4,049 | -13,301 | - | -21,040 |
| - transfer to a category of assets designated for sale in accordance with IFRS 52) | - | -14,853 | -14,853 | -70 | -485 | -15,408 |
| - reclassification from intangible assets under construction | - | - | - | -115,986 | - | -115,986 |
| - other | - | -9 | -9 | -1,396 | -100 | -1,505 |
| Exchange differences | 878 | -343 | -425 | 15 | 6,953 | 7,503 |
| Gross value of intangible assets – closing balance | 51,233 | 942,948 | 817,592 | 187,851 | 547,722 | 1,729,754 |
| Accumulated depreciation – opening balance | - | -476,148 | -398,033 | - | -836 | -476,984 |
| Changes (due to): | -30,731 | -100,293 | -94,385 | -81 | -91,784 | -222,889 |
| - amortization for the period | -1,136 | -76,049 | -73,162 | - | -87,853 | -165,038 |
| - liquidation | - | 7,283 | 3,590 | - | - | 7,283 |
| - change in group composition | -29,068 | -42,412 | -35,789 | -80 | -2,877 | -74,437 |
| - transfer to a category of assets designated for sale in accordance with IFRS 5 2) | - | 10,745 | 10,745 | - | - | 10,745 |
| - exchange differences | -527 | 249 | 360 | -1 | -1,154 | -1,433 |
| - other | - | -109 | -129 | - | 100 | -9 |
| Accumulated amortization – closing balance | -30,731 | -576,441 | -492,418 | -81 | -92,620 | -699,873 |
| Impairment losses – opening balance | - | -34,165 | - | -131,969 | - | -166,134 |
| Other operating expenses - changes | - | -301 | -301 | -121 | - | -422 |
| Other changes: | - | -7,801 | -7,801 | 13,168 | - | 5,367 |
| - change in group composition | - | -8,075 | -8,075 | - | - | -8,075 |
| - other | - | 274 | 274 | 13,168 | - | 13,442 |
| Impairment losses – closing balance | - | -42,267 | -8,102 | -118,922 | - | -161,189 |
| Net value of intangible assets – closing balance | 20,502 | 324,240 | 317,072 | 68,848 | 455,102 | 868,692 |
1) including assets acquired in company takeover transactions (customer relations, relations with brokers, future profits from concluded insurance contracts) amounting to PLN 536,387 thousand.
2) this item presents the transfer of PZU Lietuva's assets to assets held for sale due to the transaction described in Note 59.9.1. The decrease in assets were converted with an average exchange rate disclosed in Note 5.3.tało przeliczone kursem średnim przedstawionym w punkcie 5.3.
The item "Impairment losses" indicate losses for total expenditures incurred for the GraphTalk project in the amount of PLN 116,309 thousand (PLN 116,309 thousand as at 31 December 2013); and the life unit-linked insurance management module and the base license GraphTalk in the amount of PLN 34,165 thousand (PLN 34,165 thousand as at 31 December 2013).
Intangible assets with indefinite period of use (trademarks with a total value of PLN 169,344 thousand) were tested for impairment, including goodwill. Detailed information concerning those tests has been presented in Note 29.
Changes in intangible assets (by group) in the year ended 31 December 2013
| Acquired concessions, patents, licenses and similar items, including: | Computer software | Intangible assets in the production stage | Other intangible assets | Total intangible assets | |
|---|---|---|---|---|---|
| Gross value of intangible assets – opening balance | 559,746 | 446,263 | 206,382 | 1,507 | 767,635 |
| Increases (due to): | 211,755 | 207,524 | 172,831 | 471 | 385,057 |
| - purchase | 18,582 | 18,226 | 169,496 | - | 188,078 |
| - change in group composition | 7,470 | 5,557 | - | 471 | 7,941 |
| - reclassification from intangible assets under construction | 185,359 | 183,495 | - | - | 185,359 |
| - other | 344 | 246 | 3,335 | - | 3,679 |
| Decreases (due to): | -7,269 | -4,031 | -193,509 | -17 | -200,795 |
| - disposal | -260 | - | - | -17 | -277 |
| - liquidation | -5,147 | -2,705 | -4,420 | - | -9,567 |
| - reclassification from intangible assets under construction | - | - | -185,359 | - | -185,359 |
| - other | -1,862 | -1,326 | -3,730 | - | -5,592 |
| - exchange differences | -53 | -47 | - | - | -53 |
| Gross value of intangible assets– closing balance | 764,179 | 649,709 | 185,704 | 1,961 | 951,844 |
| Accumulated depreciation – opening balance | -415,442 | -341,967 | - | -311 | -415,753 |
| Changes (due to): | -60,706 | -56,066 | - | -525 | -61,231 |
| - amortization for the period | -60,316 | -55,073 | - | -127 | -60,443 |
| - sale | 57 | - | - | 9 | 66 |
| - liquidation | 4,648 | 2,687 | - | - | 4,648 |
| - change in group composition | -4,875 | -3,250 | - | -419 | -5,294 |
| - exchange differences | 19 | 19 | - | 12 | 31 |
| - other | -239 | -449 | - | - | -239 |
| Accumulated depreciation – closing balance | -476,148 | -398,033 | - | -836 | -476,984 |
| Impairment losses – opening balance | -34,165 | - | -134,479 | - | -168,644 |
| Other operating expenses - changes | - | - | -1,910 | - | -1,910 |
| Liquidation of assets | - | - | 4,420 | - | 4,420 |
| Impairment losses – closing balance | -34,165 | - | -131,969 | - | -166,134 |
| Net value of intangible assets – closing balance | 253,866 | 251,676 | 53,735 | 1,125 | 308,726 |
| Amortization of intangible assets by position in the consolidated statement of profit or loss | 1 January – 31 December 2014 | 1 January – 31 December 2013 |
|---|---|---|
| Insurance claims and change in technical provisions | 18,650 | 12,904 |
| Change in measurement of investment contracts | 1 | 2 |
| Acquisition costs | 19,111 | 12,284 |
| Administrative expenses | 38,365 | 33,819 |
| Other operating expenses | 88,830 1) | 1,355 |
| Costs of investment activities | 81 | 79 |
| Total depreciation | 165,038 | 60,443 |
1) Including amortization of intangible assets acquired in company takeover transactions amounting to PLN 87,795 thousand
