4.2 Intangible assets
|
CHF million |
Energy purchase rights 1 |
Other intangible assets |
Assets under development and prepayments |
Total |
|
Net carrying amount at 1 January 2022 |
26 |
62 |
4 |
92 |
|
Investments |
|
|
5 |
5 |
|
Own work capitalised |
|
|
6 |
6 |
|
Reclassifications |
|
8 |
– 8 |
|
|
Reclassified to “Assets held for sale” |
|
– 8 |
|
– 8 |
|
Amortisation |
– 1 |
– 15 |
|
– 16 |
|
Impairment |
|
– 2 |
– 1 |
– 3 |
|
Reversals of impairment |
|
5 |
|
5 |
|
Currency translation differences |
|
– 1 |
|
– 1 |
|
Net carrying amount at 31 December 2022 |
25 |
49 |
6 |
80 |
|
Of which, cost value |
1,490 |
523 |
6 |
2,019 |
|
Of which, accumulated amortisation |
– 1,465 |
– 474 |
|
– 1,939 |
1 Include prepayments for rights to purchase energy in the long term, including capitalised interest, as well as long-term energy purchase agreements acquired in business combinations.
|
CHF million |
Energy purchase rights 1 |
Other intangible assets |
Assets under development and prepayments |
Total |
|
Net carrying amount at 1 January 2021 |
27 |
65 |
7 |
99 |
|
Investments |
|
|
5 |
5 |
|
Own work capitalised |
|
|
5 |
5 |
|
Reclassifications |
|
11 |
– 11 |
|
|
Amortisation |
– 1 |
– 13 |
|
– 14 |
|
Impairment |
|
|
– 2 |
– 2 |
|
Currency translation differences |
|
– 1 |
|
– 1 |
|
Net carrying amount at 31 December 2021 |
26 |
62 |
4 |
92 |
|
Of which, cost value |
1,490 |
523 |
4 |
2,017 |
|
Of which, accumulated amortisation |
– 1,464 |
– 461 |
|
– 1,925 |
1 Include prepayments for rights to purchase energy in the long term, including capitalised interest, as well as long-term energy purchase agreements acquired in business combinations.
Impairment and reversals of impairment
Impairment losses of CHF 3 million (previous year: CHF 2 million) were recognised in the Trading business division as internally developed software could not be used as originally planned.
More information on reversals of impairment losses is disclosed in note 4.1 and note 5.2.
Accounting policies
Intangible assets are stated at cost, net of accumulated amortisation and any impairment losses. Assets with a limited useful life are generally amortised on a straight-line basis over their estimated useful economic lives. Amortisation of energy purchase rights is applied in line with the scope of the energy purchases made each year in relation to the total energy purchase quantity agreed contractually. The amortisation period and amortisation method are reviewed at each financial year end. The useful lives of the intangible assets recognised range from 1 to 75 years. Assets under development and prepayments are not subject to amortisation. An impairment test is only performed whenever indications exist that the assets may be impaired.
If the asset’s carrying amount exceeds its estimated recoverable amount, it is written down to its recoverable amount. An impairment loss previously recognised for an intangible asset is reversed in the income statement if the impairment no longer exists, or has decreased. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised.
For significant estimation uncertainties and assumptions, please refer to note 4.1.