EasyJet 2015 Annual Report Download - page 108
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104 easyJet plc Annual report and accounts 2015
Notes to the accounts continued
8. Goodwill and other intangible assets
Other intangible assets
Goodwill
£ million
Landing
rights
£ million
Contractual
rights
£ million
Computer
software
£ million
Total
£ million
Cost
At 1 October 2014 365 94 – 38 132
Transfer from property, plant and equipment – – – 27 27
Disposals – – – (5) (5)
At 30 September 2015 365 94 – 60 154
Amortisation
At 1 October 2014 – – – 19 19
Charge for the year – – – 13 13
Disposals – – – (5) (5)
At 30 September 2015 – – – 27 27
Net book value
At 30 September 2015 365 94 – 33 127
At 1 October 2014 365 94 – 19 113
Other intangible assets
Goodwill
£ million
Landing
rights
£ million
Contractual
rights
£ million
Computer
software
£ million
Total
£ million
Cost
At 1 October 2013 365 81 1 34 116
Additions – 13 – – 13
Transfer from property, plant and equipment – – – 10 10
Disposals – – (1) (6) (7)
At 30 September 2014 365 94 – 38 132
Amortisation
At 1 October 2013 – – – 14 14
Charge for the year – – 1 11 12
Disposals – – (1) (6) (7)
At 30 September 2014 – – – 19 19
Net book value
At 30 September 2014 365 94 – 19 113
At 1 October 2013 365 81 1 20 102
easyJet has one cash-generating unit, being its route network. The recoverable amount of goodwill and other assets with indefinite
expected useful lives has been determined based on value in use calculations of the route network.
Pre-tax cash flow projections have been derived from the strategic plan presented to the Board for the period up to 2020, using
the following key assumptions:
Pre-tax discount rate (derived from weighted average cost of capital) 12%
Fuel price (US dollars per metric tonne) 650 – 1,000
Exchange rates:
US dollar 1.50
Euro 1.30
Swiss franc 1.40