Intangible assets
| in CHF 000 | Goodwill | Publishing rights, brand rights and other legal rights |
Recognised software project costs |
Other intangible assets, assets under construction |
Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Historical cost | ||||||||||
| As of 31 December 2018 | 1 074 254 | 1 024 844 | 77 104 | 1 071 | 2 177 275 | |||||
| Additions of consolidated companies | 7 313 | 13 733 | 15 811 | – | 36 857 | |||||
| Disposals of consolidated companies | (7 303) | (10 863) | (9 047) | (83) | (27 296) | |||||
| Additions | – | 1 354 | 2 126 | 6 445 | 9 925 | |||||
| Disposals | – | (7) | (5 242) | (395) | (5 644) | |||||
| Transfers | – | – | 6 244 | (6 244) | – | |||||
| Currency effects | (1 299) | (496) | (335) | – | (2 130) | |||||
| As of 31 December 2019 | 1 072 965 | 1 028 565 | 86 663 | 794 | 2 188 988 | |||||
| Additions of consolidated companies | – | – | – | – | – | |||||
| Disposals of consolidated companies | (59 687) | (24 948) | (7 922) | (2) | (92 559) | |||||
| Additions | – | – | 3 236 | 12 712 | 15 948 | |||||
| Disposals | – | (1 255) | (17 369) | (39) | (18 664) | |||||
| Transfers | – | – | 8 534 | (8 534) | – | |||||
| Currency effects | (453) | (133) | (22) | – | (607) | |||||
| As of 31 December 2020 | 1 012 825 | 1 002 229 | 73 121 | 4 931 | 2 093 106 |
| Cumulative amortisation, depreciation and impairment | ||||||||||
| As of 31 December 2018 | 48 409 | 225 018 | 59 938 | 16 | 333 381 | |||||
| Disposals of consolidated companies | – | (7 066) | (7 398) | – | (14 464) | |||||
| Depreciation and amortisation | – | 54 891 | 12 218 | 41 | 67 151 | |||||
| Impairment | 24 730 | – | – | – | 24 730 | |||||
| Disposals | – | (2) | (5 213) | (16) | (5 231) | |||||
| Currency effects | (641) | (95) | (256) | – | (993) | |||||
| As of 31 December 2019 | 72 497 | 272 747 | 59 289 | 41 | 404 574 | |||||
| Disposals of consolidated companies | (16 479) | (11 064) | (7 252) | (2) | (34 797) | |||||
| Depreciation and amortisation | – | 64 477 | 12 830 | 10 | 77 317 | |||||
| Impairment | 85 000 | – | – | – | 85 000 | |||||
| Disposals | – | (781) | (16 717) | (29) | (17 528) | |||||
| Currency effects | (186) | (73) | (20) | – | (279) | |||||
| As of 31 December 2020 | 140 832 | 325 306 | 48 129 | 20 | 514 287 |
| Net carrying value of assets | ||||||||||
| As of 31 December 2019 | 1 000 468 | 755 819 | 27 375 | 753 | 1 784 414 | |||||
| As of 31 December 2020 | 871 993 | 676 923 | 24 992 | 4 911 | 1 578 819 |
Intangible assets decreased by CHF 205.6 million from CHF 1,784.4 million to CHF 1,578.8 million. The change to the group of consolidated companies, which includes the disposals of Olmero AG and Trendsales ApS, led to a decline in intangible assets in the amount of CHF 57.8 million. Further information on this is provided in Note 1 on changes to the group of consolidated companies. As in the previous year, investment focused primarily on IT software that can be capitalised (such as investments in platforms). Depreciation and amortisation amount to CHF 77.3 million (previous year: CHF 67.2 million), whereby this increase is a result of depreciation and amortisation associated with Tamedia brands, which began in 2020 (see Note 9 “Depreciation and amortisation”). Impairment on goodwill amounting to CHF 85.0 million was recognised in the Tamedia segment in the reporting year (previous year: CHF 24.7 million). Further information on this can be found in Note 22 below. In 2020, intangible assets with a net investment value of CHF 1.1 million (previous year: CHF 0.4 million) were sold, much of which is attributable to the sale of Renovero recorded in the first half of 2020.