Page 105 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Consolidated Financial Statements of the Enav Group 103

Impairment losses totaling ¤2,269 thousand refer to certain parts of
projects and systems which can no longer be used and have been expensed.

Depreciation of ¤139,480 thousand was charged in the year (¤136,708
thousandin the year ended 31 December 2013).

Certain investments, having an original cost of ¤216,995 thousand, are
financed by capital grants awarded as part of the National Operating
Program for the Transport Sector (PON) for 2000-2006 and 2007-2013
for work carried out at airports in the south of the country and by grants
awarded by the Ministry of Infrastructure and Transport for investments in
military airports pursuant to Law no. 102/09. The capital grants financing
these investments are originally recognized as other liabilities and are
released to income in proportion to the depreciation charged on the assets
to which they relate. The portion relating to the year amounted to ¤12,303
thousand.

6. Intangible assets

The following table sets out changes to intangible assets for the year ended
31 December 2014:

Patents and Other intangible Assets under Goodwill Total
intellectual assets formation
property rights 66,486 212,020
48,075
Cost 95,377 2,082 0 (80,252)
0
Accumulated amortization (79,188) (1,064) 66,486 131,768
48,075 0 23,724
Net book value 16,189 1,018 0
at 31.12.2013 7,319 0 0
Increases 16,405 0 0 0 (13,849)
Disposals 0 0 0 (16,884)
Reclassifications 0 3 (13,852) (7,009)
Amortization charge (696) 0 66,486 221,895
Total changes (16,188) (693) 0 (97,136)
Cost 217 2,085 (6,533) 124,759
Accumulated amortization (1,760) 41,542 66,486
Net book value 111,782
at 31.12.2014 (95,376) 325 0

16,406 41,542

Intangible assets totaled ¤124,759 thousandat 31 December 2014,
representing a decrease of ¤7,009 thousand as the result of an increased
amortization charge that did not offset the reduction in investment projects
in progress.