PANDORA Annual Report 2014 - page 84

NOTES
76•Consolidated financial statements PANDORAANNUAL REPORT2014
SECTION 3: INVESTED CAPITAL ANDWORKING CAPITAL ITEMS, CONTINUED
Distribution Distribution Other intangible
DKKmillion Goodwill Brand network rights assets Total
Cost at 1 January 2014 1,904 1,053 478 1,358 433 5,226
Acquisition of subsidiaries and activities 93 - - - 1 94
Disposal of subsidiaries and activities -6 - - - - -6
Additions - - - 5 159 164
Disposals - - - - -22 -22
Exchange rate adjustments 89 - - - 25 114
Cost at 31December 2014 2,080 1,053 478 1,363 596 5,570
Amortisation and impairment losses at 1 January 2014 - - 178 316 115 609
Amortisation and impairment losses for the year - - 32 - 68 100
Disposals - - - - -1 -1
Exchange rate adjustments - - - - 3 3
Amortisation and impairment losses at 31December 2014 - - 210 316 185 711
Carrying amount at 31December 2014 2,080 1,053 268 1,047 411 4,859
Cost at 1 January 2013 1,922 1,053 478 1,358 195 5,006
Acquisition of subsidiaries and activities 30 - 3 - 13 46
Additions 44 - - - 268 312
Disposals - - -3 - -2 -5
Reclassifications - - - - -4 -4
Exchange rate adjustments -92 - - - -37 -129
Cost at 31December 2013 1,904 1,053 478 1,358 433 5,226
Amortisation and impairment losses at 1 January 2013 - - 147 313 59 519
Amortisation and impairment losses for the year - - 34 3 63 100
Disposals - - -3 - - -3
Reclassifications - - - - -2 -2
Exchange rate adjustments - - - - -5 -5
Amortisation and impairment losses at 31December 2013 - - 178 316 115 609
Carrying amount at 31December 2013 1,904 1,053 300 1,042 318 4,617
Themajority of the intangible assets have been acquired through business combinations.
Therewere no impairment losses in 2014 or 2013.
3.1 INTANGIBLEASSETS
DKKmillion 2014 2013
Amortisation, depreciation and impairment losses for the year
Intangible assets 100 100
Property, plant and equipment 122 100
Total 222 200
Amortisation, depreciation and impairment losses havebeen recognised in the income statement:
Cost of sales 49 41
Sales, distribution andmarketing expenses 92 83
Administrative expenses 81 76
Total 222 200