Lenovo 2012 Annual Report Download - page 150
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2011/12 Annual Report Lenovo Group Limited
148
NOTES TO THE FINANCIAL STATEMENTS
17 Intangible assets (continued)
(c) Impairment tests for goodwill and intangible assets with indefinite useful lives (continued)
The Group has performed a sensitivity analysis on key assumptions used for the annual impairment test for goodwill.
Except for JANZ in 2012 and REM in 2011, a reasonably possible change in key assumptions used in the impairment
test for goodwill would not cause any CGU’s carrying amount to exceed its respective recoverable amount. As at March
31, 2012, the recoverable amount for JANZ calculated based on value in use exceeded carrying value by US$149
million. Had JANZ’s forecasted operating margin been 0.65 percentage point lower than management’s estimates, the
JANZ’s remaining headroom would be removed.
As at March 31, 2011, the recoverable amount for REM calculated based on value in use exceeded carrying value
by US$375 million. Had REM’s forecasted operating margin been 1.5 percentage points lower than management’s
estimates, the REM’s remaining headroom would be removed.
18 Subsidiaries
(a) Investments in subsidiaries
Company
2012 2011
US$’000 US$’000
Unlisted investments, at cost 2,472,880 1,929,073
A summary of the principal subsidiaries of the Company is set out in Note 38.
(b) Amounts due from/to subsidiaries
The amounts are interest-free, unsecured and have no fixed terms of repayment.
19 Interests in associates and jointly controlled entities
Group
2012 2011
US$’000 US$’000
Share of net assets
– Associates 677 914
– Jointly controlled entities 2,733 –
3,410 914
The following is a list of the principal associate and jointly controlled entities as at March 31, 2012:
Company name
Place of
establishment
Interest held indirectly
Principal activities2012 2011
Associate
閃聯信息技術工程中心有限公司
(IGRS Engineering Lab Limited)
Chinese Mainland 23% 23% Distribution and development
of IT technology
Jointly controlled entities
成都聯創融錦投資有限責任公司 Chinese Mainland 49% –Property development
(Chengdu Lenovo Rongjin
Investment Limited)
上海視雲網絡科技有限公司
(Shanghai Shiyun Network
Technology Limited)
Chinese Mainland 49% –Distribution and development
of IT technology and
software