Air New Zealand 2008 Annual Report Download - page 23

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AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2008
11. INTANGIBLE ASSETS
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Intangible assets comprise:
Internally developed software 22 23 20 21
Externally purchased software 17 24 15 21
Goodwill 1 - - -
40 47 35 42
INTERNALLY DEVELOPED SOFTWARE
Cost 100 95 97 92
Accumulated amortisation (77) (67) (76) (66)
Carrying value at beginning of the year 23 28 21 26
Additions 10 6 10 6
Amortisation (11) (11) (11) (11)
Carrying value at end of the year 22 23 20 21
Represented by:
Cost 110 100 107 97
Accumulated amortisation (88) (77) (87) (76)
Carrying value at end of the year 22 23 20 21
EXTERNALLY PURCHASED SOFTWARE
Cost 187 177 183 177
Accumulated amortisation (163) (152) (162) (152)
Carrying value at beginning of the year 24 25 21 25
Additions 4 11 4 8
Amortisation (11) (12) (10) (12)
Carrying value at end of the year 17 24 15 21
Represented by:
Cost 191 187 187 183
Accumulated amortisation (174) (163) (172) (162)
Carrying value at end of the year 17 24 15 21
Goodwill of $1 million arose upon a business combination during the year. As at 30 June 2008, this was assessed for impairment. No impairment
provision is considered to be required.
12. INVESTMENTS
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Investments in subsidiaries - - 284 190
Investments in associates 49 47 - -
49 47 284 190
Investments in associates
Carrying value at the beginning of the year (including goodwill
of $Nil (30 June 2007: $Nil)) 47 54 - -
Contributions made during the year - 3 - -
Share of surplus - 1 - -
Foreign currency translation - (11) - -
Reversal in provision for impairment, recognised within Operating expenses 2 - - -
Carrying value at the end of the year (including goodwill of $Nil) 49 47 - -
21