Page 190 - ENAV eng_Relazione_Finanziaria_Annuale_2014

188 ENAV – 2014 Financial Statements

In conjunction with the relevant Company departments, the Territorial
Agency has completed its work of identifying and cataloging certain assets
included in Annex F of the Ministerial Decree of 14 November 2000,
published in the Official Journal no. 174 of 28 July 2001, essentially relating
to systems and equipment and light buildings. In this respect a review is
currently taking place of the condition of these assets in order to assess
their estimated market value for subsequent recognition as assets. Once
this work is completed, the items will be recognized in the Company’s
balance sheet with counter-entry to equity, without any additional costs
for tax charges arising.

5. Intangible assets

The following table sets out intangible assets at the beginning and end of
the year ended 31 December 2014 and changes for the year.

Cost Patents and Other intangible Assets under Goodwill
Accumulated amortization intellectual assets formation
Net book value at 31.12.2013 property rights 141,798
Increases 2,082 48,224 (76,901)
Disposals 91,492 (1,064) 0
Reclassifications (75,837) 64,897
Amortization charge 1,018 48,224 23,337
Total changes 15,655 0 7,170
Cost 16,167 0 0 0
Accumulated amortization 3 (13,849)
Net book value at 31.12.2014 0 (13,852) (16,420)
0 (696) 0 (6,932)
(15,724) (693) 151,286
443 2,085 (6,682) (93,321)
107,659 (1,760) 41,542
(91,561) 57,965
16,098 325 0
41,542

Intangible assets totaled ¤57,965 thousand at 31 December 2014,
representing a decrease of ¤6,932 thousand as the result of an increased
amortization charge that did not offset the reduction in investment projects
in progress.

Patents and intellectual property rights increased by ¤16,167 thousand due
to the acquisition of new assets during the year, such as licenses for the use
of management and operating systems and the installation of application
software, of which the main items relate to Oracle licenses and new ESPER
personnel management system modules.

Intangible assets under formation amount to ¤41,542 thousand,
representing an increase of ¤7,170 thousand over the year, and mostly