Singapore Airlines 2015 Annual Report Download - page 162
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Notes to the Financial Statements
31 March 2015
22 Intangible Assets (in $ million) (continued)
The Company
Computer
software
and others
Advance
and progress
payments Total
Cost
At 1 April 2013 385.5 39.5 425.0
Additions 9.8 10.2 20.0
Transfers 44.5 (44.5) –
Disposals (13.6) – (13.6)
At 31 March 2014 426.2 5.2 431.4
Additions 7.6 14.7 22.3
Transfers 11.5 (11.5) –
Disposals (7.9) – (7.9)
At 31 March 2015 437.4 8.4 445.8
Accumulated amortisation
At 1 April 2013 266.0 – 266.0
Amortisation 21.1 – 21.1
Disposals (13.6) – (13.6)
At 31 March 2014 273.5 – 273.5
Amortisation 20.7 – 20.7
Disposals (7.8) – (7.8)
At 31 March 2015 286.4 – 286.4
Net book value
At 31 March 2014 152.7 5.2 157.9
At 31 March 2015 151.0 8.4 159.4
Impairment testing of goodwill and brand
The goodwill and brand acquired through acquisition of Tiger Airways have an indefinite useful life. Tiger Airways has been
identified as a single CGU for impairment testing.
The recoverable amount of the CGU has been determined based on value-in-use calculations using cash flow projections from
financial forecasts approved by Management covering a five-year period. The pre-tax discount rate applied to cash flow projections
is 7.0% and the forecasted long-term growth rate used to extrapolate the cash flow projections beyond the five-year period is 2.5%.
The calculation of value-in-use for the CGU is most sensitive to the following assumptions:
Pre-tax discount rates – Discount rates represent the current market assessment of the risks specific to the cash-generating
unit, regarding the time value of money and individual risks of the underlying assets which have not been incorporated in the
cash flow estimates.
Growth rate – The forecasted long-term growth rate is based on published industry research and does not exceed the long-term
average growth rate for the industries relevant to the CGU.
A reasonable change to the assumptions used by Management to determine the impairment required, particularly the discount
rate and long-term growth rate, would not significantly aect the results.
160 FINANCIAL