Sun Life 2012 Annual Report Download - page 135
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10.B Intangible Assets
Changes in intangible assets are as follows:
Finite life
Indefinite
life Total
Internally
generated software Other
Gross carrying amount
Balance, January 1, 2011 $ 173 $ 713 $ 239 $ 1,125
Additions 47 – – 47
Foreign exchange rate movements 1157
Balance, December 31, 2011 $ 221 $ 714 $ 244 $ 1,179
Additions 52 – – 52
Disposals (17) (2) – (19)
Foreign exchange rate movements (3) (1) (6) (10)
Less: Held for Sale (11) – (10) (21)
Balance, December 31, 2012 $ 242 $ 711 $ 228 $ 1,181
Accumulated amortization and impairment losses
Balance, January 1, 2011 $ (50) $ (179) $ – $ (229)
Amortization charge for the year (23) (23) – (46)
Impairment losses (12) – (9) (21)
Impairment reversals ––22
Balance, December 31, 2011 $ (85) $ (202) $ (7) $ (294)
Amortization charge for the year (31) (23) – (54)
Impairment reversals ––22
Disposals 16 – – 16
Foreign exchange rate movements ––––
Less: Held for Sale 6–511
Balance, December 31, 2012 $ (94) $ (225) $ – $ (319)
Net carrying amount, end of period:
As at December 31, 2011 $ 136 $ 512 $ 237 $ 885
As at December 31, 2012 $ 148 $ 486 $ 228 $ 862
The components of the intangible assets are as follows:
As at December 31, 2012 2011
Finite-life intangible assets:
Sales potential of field force $ 358 $ 373
Asset administration contracts 128 139
Internally generated software 148 136
$ 634 $ 648
Indefinite-life intangible assets:
Fund management contracts(1) $ 228 $ 232
State licenses –5
$ 228 $ 237
Total intangible assets $ 862 $ 885
(1) Fund management contracts are attributable to the MFS Holdings CGU, where their competitive position in, and the stability of, their respective markets support their
classification as indefinite life intangible assets.
Notes to Consolidated Financial Statements Sun Life Financial Inc. Annual Report 2012 133