IAS 38 paras 122(a)(b), additional information for material finite lived and indefinite lived intangibles

Glanbia plc – Annual report – 31 December 2017

Industry: food and drink

  1. Intangible assets (extract)

Individually material intangible assets with definite useful lives:

glan1

Management reviewed the amortisation period and amortisation method for the intangible assets with definite useful lives at the reporting date. Management noted no difference in the expected useful life of the brands and customer relationship assets from the original estimates and noted no change in the expected pattern of consumption of the future economic benefits of the assets.

Individually material indefinite life intangible assets

glan2

As at the reporting date management reviewed the events and circumstances supporting the indefinite useful life assessment. The brand is long established, continues to have a strong market presence with high customer recognition and there are no material legal, contractual or other factors that limit its useful life. In addition, the likelihood that market based factors could truncate the brand’s life is relatively remote because of the size, diversification and market share of the brand in question. It was determined that this asset will continue to contribute indefinitely to the cash flows of the Group.

 

 

 

 

 

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