15. Other Intangible Assets

in thousands of EUR

Notes

Key money

Trademarks

Software

Other

Total

At 1 January 2014

Cost

218,959

243,280

118,848

43,872

624,959

Accumulated amortization and impairment

- 5,441

- 105,075

- 86,309

- 31,114

- 227,939

Carrying amount

213,518

138,205

32,539

12,758

397,020

Movements in 2014

Acquisitions

2,000

31,518

625

33,010

67,153

Additions

3,732

3

21,990

717

26,442

Disposals

- 948

-

- 280

- 10

- 1,238

Amortization charge

8

-

- 14,455

- 11,575

- 5,402

- 31,432

Impairment

8

- 3,999

- 1,284

-

-

- 5,283

Reclassification

- 4,550

6

162

366

- 4,016

Exchange differences

- 41

- 1,033

- 288

956

- 406

Carrying amount

209,712

152,960

43,173

42,395

448,240

At 31 December 2014

-

Cost

218,775

274,436

144,253

78,402

715,866

Accumulated amortization and impairment

- 9,063

- 121,476

- 101,080

- 36,007

- 267,626

Carrying amount

209,712

152,960

43,173

42,395

448,240

Movements in 2015

-

Acquisitions

6

1,312

16,808

358

10,276

28,754

Adjustment to purchase price allocation & earn-outs

-

- 4,924

-

1,638

- 3,286

Additions

1,485

722

26,759

1,091

30,057

Disposals

- 220

-

- 200

-

- 420

Amortization charge

8

-

- 16,243

- 14,162

- 9,643

- 40,048

Impairment

8

- 1,541

- 3,866

-

-

- 5,407

Reclassification

90

-

42

66

198

Exchange differences

- 2,151

- 1,725

- 474

680

- 3,670

Carrying amount

208,687

143,732

55,496

46,503

454,418

At 31 December 2015

Cost

218,061

277,927

172,762

91,433

760,183

Accumulated amortization and impairment

- 9,374

- 134,195

- 117,266

- 44,930

- 305,765

Carrying amount

208,687

143,732

55,496

46,503

454,418

Key money

Key money as part of intangible assets has an indefinite useful life, relating to stores in France and Brazil. In France and Brazil, these assets are not amortized but are subject to an annual impairment test using cash flow projections covering a five-year period and the market value is used based on external valuations. Details as to the cost per square meter and latest key money transactions for the main shopping malls are publicly available.

If the calculated value in use is less than the carrying value of the assets, external valuations are performed to arrive at a fair value less costs of disposal.

During 2015 the impairment test on key money resulted in an impairment in France and Brazil of €1,541 (2014: €3,999) as a result of decrease of value in use and external valuations performed for each store individually.

In 2014 an amount of €4,266 was reclassified from key money to goodwill.

The carrying amount of the key money with an indefinite useful life is tested on a store-by-store basis and per country amounts to:

in thousands of EUR

31 December 2015

31 December 2014

France

202,242

200,517

Brazil

6,445

9,195

208,687

209,712

Key assumptions used to determine the recoverable amount:

2015

2014

Revenue growth rate

2.0% - 13%

1.5% - 12%

Discount rate (pre tax)

9.80%-14.86%

9.91% - 18.31%

Trademarks

The impairment of trademarks in 2015 is related to Brazil (€2,573) and Mexico (€1,293) following periodic review of the trademarks in use.

Software

In 2013, the business project iSynergy was initiated to a implement global ERP system in all countries. In 2015 the ERP system went successfully live in the United Kingdom and the Netherlands.

In 2015, the Group capitalized €10,158 (2014: €8,685) worth of licenses and expenses related to the global ERP project.

Other

The other intangible assets mainly comprise of customer databases €37,262 (2014: €32,321).