Chrysler 2011 Annual Report Download - page 289

Fiat S.p.A.
Statutory
Financial
Statements
at 31 December
2011
Notes
288
9. Intangible assets
All intangible assets have been purchased and, apart from goodwill, there are no intangible assets with an indefinite useful life.
At 31 December 2011, intangible assets totaled €1,744 thousand and underwent the following changes during the year:
(€ thousand) 31 December 2010 Additions Amortization
(Decreases) and
Other changes
31 December
2011
Goodwill
- Gross carrying amount - 1,330 - - 1,330
- Accumulated amortization - - - - -
- Net carrying amount -1,330 - - 1,330
Licenses and software
- Gross carrying amount - 273 - - 273
- Accumulated amortization - - (91) - (91)
- Net carrying amount -273 (91) - 182
Other intangible assets
- Gross carrying amount 512 - - (44) 468
- Accumulated amortization (195) - (41) - (236)
- Net carrying amount 317 - (41) (44) 232
Total intangible assets
- Gross carrying amount 512 1,603 - (44) 2,071
- Accumulated amortization (195) - (132) - (327)
- Accumulated impairment losses - - - - -
- Net carrying amount 317 1,603 (132) (44) 1,744
Goodwill relates to consideration paid in excess of fair value to acquire, effective 1 December 2011, the business units referred to previously (see Note 5)
that provide internal audit and financial advisory services to Fiat S.p.A. and Group companies.
Licenses and software relates to intangible assets acquired with the above business units and also includes costs incurred for software developed internally
or purchased from third parties, which is amortized over its estimated useful life (3 years) from the time completed and fully operational.
Other intangible assets essentially consist of leasehold improvements, which are amortized over the term of the lease agreement (12 years).
Amortization on intangible assets is recognized in the income statement under other operating costs (Note 6).
In 2010, changes in intangible assets related solely to other intangible assets and were as follows:
(€ thousand) 31 December 2009 Additions Amortization
(Decreases) and
Other changes 31 December 2010
- Gross carrying amount 573 44 - (105) 512
- Accumulated amortization (260) - (40) 105 (195)
- Net carrying amount 313 44 (40) - 317