Our results

Intangible assets

Accounting policy applied

Intangible assets are presented at the cost of production less amortization and impairment loss. The Group includes among intangible assets mainly software, licenses and economic copyright. Other intangible assets presented by the Group are intangible assets under development, such as all costs related to implementing an IT system until the implementation is completed.

The Group applies straight-line amortization. For items with a definite useful life, amortization is applied during the period of economic useful life of a assets. To calculate amortization, the Group uses periods ranging from 2 to 10 years.

The economic useful life and method of amortization are verified at the end of each reporting period, and the results of estimate changes are settled prospectively. The verification of economic useful live of intangible assets conducted as at 31 December 2017 and 31 December 2016 did not reveal a need to change the previously used amortization rates.

As at 31 December 2017 and 31 December 2016, the Group did not ascertain the need to recognize impairment losses for intangible assets under development.

Change in the balance of intangible assets

Data in ths. PLN

Year ended 31 December 2017 (audited)Licenses - softwareOther intangible assetsIntangible assets under developmentTotal
Gross value    
As at 1 January 2017 (audited)166,84511,19310,474188,512
Increases / (decreases):    
Purchase--5,7115,711
Settlement of intangible assets under development12,271-(12,271)-
Liquidation(95)--(95)
Foreign exchange differences resulting from translation of financial statements of foreign entities(14)(15)(4)(33)
Other(61)61(114)(114)
As at 31 December 2017 (audited)178,94611,2393,796193,981
Accumulated amortization    
As at 1 January 2017 (audited)122,14910,532-132,681
Increases / (decreases):    
Amortization expenses17,081391-17,472
Liquidation(95)--(95)
Foreign exchange differences resulting from translation of financial statements of foreign entities(3)(1)-(4)
Other(75)75--
As at 31 December 2017 (audited)139,05710,997-150,054
Net value    
As at 1 January 2017 (audited)44,69666110,47455,831
As at 31 December 2017 (audited)39,8892423,79643,927
 
Data in ths. PLN
Year ended 31 December 2016 (audited)Licenses - softwareOther intangible assetsIntangible assets under developmentTotal
Gross value    
As at 1 January 2016 (audited)153,42010,79617,909182,125
Increases / (decreases):    
Purchase--7,8037,803
Settlement of intangible assets under development15,024250(15,274)-
Liquidation(1,729)--(1,729)
Foreign exchange differences resulting from translation of financial statements of foreign entities13014736313
As at 31 December 2016 (audited)166,84511,19310,474188,512
Accumulated amortization    
As at 1 January 2016 (audited)107,5858,103-115,688
Increases / (decreases):    
Amortization expenses16,2422,327-18,569
Liquidation(1,729)--(1,729)
Foreign exchange differences resulting from translation of financial statements of foreign entities51102-153
As at 31 December 2016 (audited)122,14910,532-132,681
Net value    
As at 1 January 2016 (audited)45,8352,69317,90966,437
As at 31 December 2016 (audited)44,69666110,47455,831