2.4 Intangible assets
| in CHF mn | Goodwill | Trademarks, customer bases and other legal rights |
Capitalised software project costs |
Other intangible assets, assets under construction |
Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Historical cost | ||||||||||
| As of 1 January 2022 | 806.1 | 771.3 | 50.9 | 0.2 | 1 628.4 | |||||
| Additions | – | – | 7.2 | 3.4 | 10.6 | |||||
| Disposals | (0.4) | (41.3) | – | – | (41.7) | |||||
| Transfers | – | 0.0 | – | – | 0.0 | |||||
| Currency effect | (0.4) | (0.3) | (0.1) | – | (0.8) | |||||
| As of 31 December 2022 | 805.2 | 729.7 | 58.0 | 3.5 | 1 596.5 | |||||
| Additions of consolidated companies | 45.8 | 33.2 | 8.0 | – | 87.0 | |||||
| Additions | – | 0.0 | 6.1 | 14.6 | 20.7 | |||||
| Disposals | – | – | (1.3) | (0.3) | (1.7) | |||||
| Transfers | – | – | (1.3) | 1.3 | – | |||||
| Currency effect | (0.4) | (0.2) | (0.1) | (0.1) | (0.9) | |||||
| As of 31 December 2023 | 850.6 | 762.7 | 69.3 | 19.0 | 1 701.6 |
| Accumulated depreciation, amortisation and impairment | ||||||||||
| As of 1 January 2022 | 140.8 | 300.1 | 29.7 | 0.0 | 470.7 | |||||
| Depreciation and amortisation | – | 44.8 | 13.8 | 0.9 | 59.5 | |||||
| Disposals | (0.4) | (38.7) | – | – | (39.1) | |||||
| Currency effect | – | (0.0) | (0.1) | (0.0) | (0.1) | |||||
| As of 31 December 2022 | 140.4 | 306.2 | 43.4 | 0.9 | 490.9 | |||||
| Depreciation and amortisation | – | 48.5 | 10.1 | 0.2 | 58.8 | |||||
| Disposals | – | (0.0) | (1.3) | (0.0) | (1.3) | |||||
| Currency effect | – | (0.0) | (0.1) | (0.1) | (0.2) | |||||
| As of 31 December 2023 | 140.4 | 354.7 | 52.1 | 1.1 | 548.2 |
| Net carrying value | ||||||||||
| As of 31 December 2022 | 664.8 | 423.5 | 14.6 | 2.6 | 1 105.6 | |||||
| As of 31 December 2023 | 710.2 | 408.0 | 17.2 | 18.0 | 1 153.3 |
Of the investments made in 2023 amounting to CHF 20.7 million (previous year CHF 10.6 million), a total of CHF 19.4 million is attributable to investments in IT software that can be capitalised and the recognition of own work capitalised at JobCloud AG.
Accounting policies
Acquired intangible assets are recognised at cost and amortised using the straight-line method over their expected useful life. Intangible assets with an indefinite useful life are tested annually for impairment and an annual review is carried out to determine whether the useful life is still indefinite. Own work for intangible assets is capitalised if the necessary conditions are met. Otherwise, it is charged to the income statement as it arises. Trademarks / domains are classified as intangible assets with an indefinite useful life if they can be used and renewed at no material cost and for an indefinite time and such a possibility is envisaged. The following amortisation periods apply:
-
Goodwill: no amortisation
-
Brand rights – Tamedia segment: 8–20 years
-
Brand rights – other segments: no amortisation
-
Customer bases: 5–20 years
-
Capitalised software project costs: 3–5 years
Impairment tests are performed on intangible assets with finite useful lives if events or changes in circumstances indicate that the carrying amounts may be impaired. The determination of their impairment is based on estimates and assumptions made by Group Management and the Board of Directors. As a result, it is possible that the actual values realised may deviate from these estimates. If the carrying amount is higher than the recoverable amount, an impairment is made in the income statement to the value which appears to be recoverable based on the discounted, anticipated future income, or a higher net sales value.