Aer Lingus 2014 Annual Report Download - page 113

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111
The Group believes that a single cash generating unit is the appropriate level at which to test impairment on the basis that its fleet assets are
interchangeable and are deployed through a single route planning system. Cashflows for individual fleet assets cannot be determined as such
cashflows are dependent on how each plane is deployed and given the inter-changeability of fleet assets, the Group has determined that, the
Group as a whole represents the smallest identifiable group of assets that generate interdependent cashflows.
Value-in-use calculations are based on cash flow projections contained in forecasts approved by the Board of Directors for the remaining
life of the assets in question and exclude expansion capital expenditure. Specific forecasts have been prepared for the period 2015-2018,
with a long term assumption for growth of the business from 2019. Amounts included in the forecasts in respect of both revenue and
operating costs reflect recent experience and management’s expectation of long term market trends. The average operating margin included
in the forecasts is consistent with historic experience over the medium term, having also taken into account the Group’s present operating
structure and factors which mean that less recent historic experience is less relevant. The long term growth rate assumed in the forecasts of
2.75% is assessed as reasonable given historic experience and current expectations in the Group’s primary domestic, international and
intercontinental markets over the medium term.
16 Intangible assets
Computer software
License¹
Landing Rights
Total
€'000
€'000
€'000
€'000
Cost
At 1 January 2013
61,311
3,000
-
64,311
Additions
5,493
-
-
5,493
Disposal
(604)
-
-
(604)
At 31 December 2013
66,200
3,000
-
69,200
Aggregate amortisation
At 1 January 2013
51,531
333
-
51,864
Charge for the year
3,162
334
-
3,496
Disposal
(604)
-
-
(604)
At 31 December 2013
54,089
667
-
54,756
Cost
At 1 January 2014
66,200
3,000
-
69,200
Additions
10,590
-
4,423
15,013
At 31 December 2014
76,790
3,000
4,423
84,213
Aggregate amortisation
At 1 January 2014
54,089
667
-
54,756
Charge for the year
6,051
332
-
6,383
At 31 December 2014
60,140
999
-
61,139
Net book value
31 December 2014
16,650
2,001
4,423
23,074
31 December 2013
12,111
2,333
-
14,444
¹ Licence to occupy certain daa owned property
17 Investment in joint venture
2014
2013
€'000
€'000
At 1 January
13,933
10,764
Investment during the year
-
3,644
Share of profit for the period
611
6
Other comprehensive income - amounts charged to retranslation reserve
1,244
(481)
At 31 December
15,788
13,933