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67
QANTAS ANNUAL REPORT 2015
16. INTANGIBLE ASSETS
2015 2014
Qantas Group
$M At Cost
Accumulated
Depreciation and
Impairment Net Book Value At Cost
Accumulated
Depreciation and
Impairment Net Book Value
Goodwill 206 –206 195 –195
Airport landing slots 35 –35 35 –35
Software 1,152 638 514 1,048 573 475
Brand names and trademarks 25 –25 22 –22
Customer contracts/relationships 27 21 627 13 14
Contract intangible assets 17 –17 –––
Total intangible assets 1,462 659 803 1,327 586 741
Qantas Group
2015
$M
Opening Net
Book Value Additions1
Acquisition
of Controlled
Entity Transfers2Amortisation
Intangibles
Impairments Other3
Closing Net
Book Value
Goodwill 195 – 8 – – – 3 206
Airport landing slots 35 ––––––35
Software 475 122 –(2) (74) (7) –514
Brand names and
trademarks 22 – – – – – 3 25
Customer contracts/
relationships 14 –––(8) – – 6
Contract intangible assets –17 –––––17
Total intangible assets 741 139 8(2) (82) (7) 6803
2014
$M
Goodwill 197 –––––(2) 195
Airport landing slots 35 ––––––35
Software 438 99 –11 (63) (9) (1) 475
Brand names and
trademarks 22 ––––––22
Customer contracts/
relationships 22 – – – (8) – – 14
Total intangible assets 714 99 –11 (71) (9) (3) 741
1 Additions include capitalised interest of $3 million (2014: nil).
2 Includes transfers between categories of intangible assets and transfers to other balance sheet accounts.
3 Other includes foreign exchange movements.
17. DEFERRED TAX ASSETS/(LIABILITIES)
Qantas Group
2015
$M
2014
$M
Deferred tax assets 333 548
Total deferred tax assets 333 548
Qantas Group
2015
$M Opening Balance
Recognised
in the
Consolidated
Income
Statement
Recognised
in Other
Comprehensive
Income Closing Balance
Reconciliations
Inventories (15) 1 – (14)
Property, plant and equipment and intangible assets (1,14 8) (247) –(1,395)
Payables 25 (2) –23
Revenue received in advance 674 25 –699
Interest-bearing liabilities (85) 14 –(71)
Other financial assets/liabilities (45) 49 21 25
Provisions 349 (41) – 308
Other items (179) 97 (15) (97)
Tax value of recognised tax losses1972 (117) –855
Total deferred tax assets/(liabilities) 548 (221) 6333
1 A net deferred tax asset of $333 million (2014: $548 million) has been recognised. The Group considers it probable this deferred tax asset will be recovered.