Nokia 2009 Annual Report Download - page 216

8. Acquisitions (Continued)
The following table summarizes the estimated fair values of the assets acquired and liabilities
assumed at the date of acquisition.
Carrying Amount Fair Value Useful lives
EURm EURm
Intangible assets subject to amortization:
Customer relationships................................ — 1290 6years
Developed technology ................................ — 710 4years
License to use trade name and trademark ................ — 350 5years
Capitalized development costs .......................... 143 154 3years
Other intangible assets ............................... 47 47 35years
190 2 551
Property, plant & equipment ........................... 371 344
Deferred tax assets ................................... 111 181
Other noncurrent assets .............................. 153 153
Noncurrent assets ................................... 825 3229
Inventories ......................................... 1010 1138
Accounts receivable .................................. 3135 3087
Prepaid expenses and accrued income ................... 870 846
Other financial assets ................................. 55 55
Bank and cash ...................................... 382 382
Current Assets ....................................... 5452 5508
Total assets acquired ................................ 6 277 8 737
Deferred tax liabilities ................................ 171 997
Longterm interestbearing liabilities .................... 34 34
Noncurrent liabilities................................. 205 1031
Shortterm borrowings ................................ 231 213
Accounts payable .................................... 1539 1491
Accrued expenses .................................... 1344 1502
Provisions .......................................... 463 397
Current liabilities .................................... 3577 3603
Total liabilities assumed ............................. 3 782 4 634
Minority interest.................................... 110 108
Net assets acquired ................................. 2 385 3 995
Cost of Acquisition ................................... 5 500
Goodwill .......................................... 1 505
Less noncontrolling interest in goodwill ................. 753
Plus costs directly attributable to the acquisition ........... 51
Goodwill arising on formation of Nokia Siemens
Networks ........................................ 803
The goodwill of EUR 803 million has been allocated to the Nokia Siemens Networks segment. The
goodwill is attributable to assembled workforce and the synergies expected to arise subsequent to
the acquisition. None of the goodwill acquired is expected to be deductible for income tax purposes.
F42
Notes to the Consolidated Financial Statements (Continued)