Nokia 2015 Annual Report Download - page 156

154 NOKIA IN 2015
In 2014, convertible bonds issued to Microsoft in September 2013 were fully redeemed as a result of the closing of the Sale of the D&S
Business. 116million potential shares were included in the calculation of diluted shares to reect the part-year eect of these convertible
bonds. In 2013, the potential shares were excluded from the calculation of diluted shares as they were determined to be antidilutive. If fully
converted, these potential shares would have resulted in the issuance of 368million shares.
In 2015, the Group exercised its option to redeem the EUR 750 million convertible bonds at their original amount plus accrued interest. Virtually
all bondholders elected to convert their convertible bonds into Nokia shares before redemption. 269million potential shares have been included
in the calculation of diluted shares to reect the part-year eect of these convertible bonds. In 2014, the conversion price was increased and
298million potential shares were included in the calculation of diluted shares as they were determined to be dilutive. Voluntary conversion of
the entire bond would have resulted in the issue of 307million shares in 2014. In 2013, 287million potential shares were excluded from the
calculation of diluted shares because they were determined to be antidilutive.
16. Intangible assets
EURm 2015 2014
Goodwill
Acquisition cost atJanuary 1 5 770 5 293
Translation dierences 350 401
Acquisitions through business combinations 7 76
Disposals(1) (4 982) –
Acquisition cost at December 31 1 145 5 770
Accumulated impairment charges at January 1 (3 207) (1 998)
Disposals(1) 2 299 –
Impairment charges – (1 209)
Accumulated impairment charges at December 31 (908) (3 207)
Net book value at January 1 2 563 3 295
Net book value at December 31 237 2 563
Other intangible assets
Acquisition cost atJanuary 1 5 646 5 214
Translation dierences 382 334
Additions 26 32
Acquisitions through business combinations 56 77
Disposals and retirements(1) (2 973) (11)
Acquisition cost at December 31 3 137 5 646
Accumulated amortization at January 1 (5 296) (4 918)
Translation dierences (350) (290)
Disposals and retirements(1) 2 934 10
Amortization (102) (98)
Accumulated amortization at December 31 (2 814) (5 296)
Net book value at January 1 350 296
Net book value at December 31 323 350
(1) In 2015, disposals and retirements include goodwill with acquisition cost of EUR 4 982 million and accumulated impairment of EUR 2 299 million and other intangible assets with acquisition cost of
EUR 2 892 million and accumulated amortization of EUR 2 853 million disposed as part of the Sale of the HERE Business.
Other intangible assets include customer relationships with a net book value of EUR 132 million (EUR 177 million in 2014), developed
technologywith a net book value of EUR 126 million (EUR 99 million in 2014), and licenses to use tradename and trademark with a net book
value of EUR 9 million (EUR 10 million in 2014). The remaining amortization periods range from approximately two to six years for customer
relationships, two to seven years for developed technology and six years for licenses to use tradename and trademark.
Notes to consolidated nancial statements continued