Notes to the financial statements
18. Intangible Assets
| PLN '000 |
Dec 31 2010 |
Dec 31 2009 |
|---|---|---|
| Development expense | 184 | 184 |
| Software | 3,914 | 4,686 |
| Patents, trademarks and licences | 81,136 | 79,031 |
| Other | 9,591 | 5,339 |
| Total | 94,825 | 89,240 |
Changes to Intangible Assets
| PLN '000 | Development expense | Software | Patents, trademarks and licences | Other | Total |
- including: exploration and evaluation assets (1) (restated) |
|---|---|---|---|---|---|---|
|
Gross book value as at Jan 1 2009 |
528 | 17,966 | 88,416 | 7,420 | 114,330 | 6,179 |
| Increase | - | 298 | 46,553 | 4,061 | 50,912 | 34,967 |
| - purchase | - | 970 | 35,811 | - | 36,781 | 35,249 |
| - transfer from investments | - | 341 | 11,113 | 4,034 | 15,488 | - |
| - change in Group structure | - | 10 | - | 33 | 43 | - |
| - transfer | - | (975) | (89) | (6) | (1,070) | - |
| - reclassified to assets held for sale | - | (38) | - | - | (38) | - |
| - exchange differences on translation of foreign operations | - | (10) | (282) | - | (292) | (282) |
| Decrease | - | (3,363) | (915) | (66) | (4,344) | - |
| - sale | - | (10) | - | (3) | (13) | - |
| - liquidation | - | (3,353) | (915) | (63) | (4,331) | - |
|
Gross book value as at Dec 31 2009 |
528 | 14,901 | 134,054 | 11,415 | 160,898 | 41,146 |
|
Gross book value as at Jan 1 2010 |
528 | 14,901 | 134,054 | 11,415 | 160,898 | 41,146 |
| Increase | - | 1,589 | 33,042 | 5,544 | 40,175 | 26,160 |
| - purchase | - | 965 | 21,873 | 3,040 | 25,878 | 21,872 |
| - transfer from investments | - | 551 | 10,009 | 2,504 | 13,064 | 3,080 |
| - transfer | - | - | (48) | - | (48) | - |
| - exchange differences on translation of foreign operations | - | 40 | 1,208 | - | 1,248 | 1,208 |
| - other | - | 33 | - | - | 33 | - |
| Decrease | - | (126) | (47) | (28) | (201) | - |
| - sale | - | (45) | - | - | (45) | - |
| - liquidation | - | (81) | (47) | (28) | (156) | - |
|
Gross book value as at Dec 31 2010 |
528 | 16,364 | 167,049 | 16,931 | 200,872 | 67,306 |
|
Accumulated amortisation as at Jan 1 2009 |
371 | 11,928 | 40,952 | 5,134 | 58,385 | 3,292 |
| Increase | - | 1,391 | 8,838 | 997 | 11,226 | 988 |
| - amortisation | - | 2,415 | 8,878 | 1,003 | 12,296 | 988 |
| - transfer | - | (982) | (40) | (6) | (1,028) | - |
| - reclassified to assets held for sale | - | (38) | - | - | (38) | - |
| - currency translation differences on foreign operations | - | (4) | - | - | (4) | - |
| Decrease | - | (3,240) | (583) | (55) | (3,878) | - |
| - sale | - | (10) | - | - | (10) | - |
| - liquidation | - | (3,230) | (583) | (55) | (3,868) | - |
|
Accumulated amortisation as at Dec 31 2009 |
371 | 10,079 | 49,207 | 6,076 | 65,733 | 4,280 |
|
Accumulated amortisation as at Jan 1 2010 |
371 | 10,079 | 49,207 | 6,076 | 65,733 | 4,280 |
| Increase | - | 2,364 | 8,533 | 1,288 | 12,185 | 981 |
| - amortisation | - | 2,345 | 8,517 | 1,288 | 12,150 | 981 |
| - transfer | - | - | 16 | - | 16 | - |
| - exchange differences on translation of foreign operations | - | 19 | - | - | 19 | - |
| Decrease | - | (123) | (47) | (24) | (194) | - |
| - sale | - | (45) | - | - | (45) | - |
| - liquidation | - | (78) | (47) | (24) | (149) | - |
|
Accumulated amortisation as at Dec 31 2010 |
371 | 12,320 | 57,693 | 7,340 | 77,724 | 5,261 |
|
Impairment losses as at Jan 1 2009 |
(27) | 51 | - | - | 24 | - |
| Increase | - | 85 | 5,867 | - | 5,952 | 5,864 |
| Exchange differences on translation of foreign operations | - | - | (51) | - | (51) | (51) |
|
Impairment losses as at Dec 31 2009 |
(27) | 136 | 5,816 | - | 5,925 | 5,813 |
|
Impairment losses as at Jan 1 2010 |
(27) | 136 | 5,816 | - | 5,925 | 5,813 |
| Increase | - | - | 21,950 | - | 21,950 | 21,950 |
| Exchange differences on translation of foreign operations | - | - | 454 | - | 454 | 454 |
| Decrease | - | (6) | - | - | (6) | - |
|
Impairment losses as at Dec 31 2010 |
(27) | 130 | 28,220 | - | 28,323 | 28,217 |
|
Net book value as at Jan 1 2009 |
184 | 5,987 | 47,464 | 2,286 | 55,921 | 2,887 |
|
Net book value as at Dec 31 2009 |
184 | 4,686 | 79,031 | 5,339 | 89,240 | 31,053 |
|
Net book value as at Dec 31 2010 |
184 | 3,914 | 81,136 | 9,591 | 94,825 | 33,828 |
(1) The value of exploration and evaluation assets comprises the value of expenses capitalised until technical feasibility and commercial viability of extracting a mineral resource are demonstrable.
In the year ended December 31st 2010, the cost of amortisation of intangible assets in respect of which technical feasibility and commercial viability of extracting a mineral resource have been demonstrated amounted to PLN 804 thousand (December 31st 2009: PLN 56 thousand).
The cost of amortisation of exploration and evaluation assets recognised under intangible items amounted to PLN 981 thousand in the year ended December 31st 2010 (December 31st 2009: PLN 988 thousand).
In the year ended December 31st 2010, impairment losses on exploration and evaluation assets recognised under intangible assets amounted to PLN 21,950 thousand (December 31st 2009: PLN 5,864 thousand).
In 2010, cash flows used in investing activities related to exploration and evaluation assets amounted to NOK 53,152 thousand (PLN 26,581 thousand translated using the arithmetic mean of exchange rates quoted for NOK for the year ended December 31st 2010) (2009: NOK 82,414 thousand, or PLN 41,116 thousand translated using the arithmetic mean of exchange rates quoted for NOK for the year ended December 31st 2009).
This is a translation of a document originally issued in Polish
The notes to the financial statements, presented on following pages, are their integral part.
