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ANNUAL FINANCIAL STATEMENTS
Notes to the financial statements
continued
for the year ended 30 September 2014
178
Tiger Brands Limited Integrated Annual Report
2014
GROUP
(R’million)
Trademarks
and other
Licence
agreements
and supplier
relationships
Customer
lists
Total
12 Goodwill and intangible assets
continued
12.3
Movement of group intangible assets
2014
Net balance at the beginning of the year
1 704,6
20,9
525,9
2 251,4
Impairment
(106,6)
–
–
(106,6)
Amortisation
(33,2)
(0,1)
(4,8)
(38,1)
Exchange rate translation difference
8,8
–
–
8,8
Net balance at the end of the year
1 573,6
20,8
521,1
2 115,5
2013
Net balance at the beginning of the year
1 114,5
21,4
515,1
1 651,0
Additions
485,0
–
–
485,0
Business combination
134,1
–
–
134,1
Write-off
(2,9)
–
–
(2,9)
Amortisation
(42,0)
(0,5)
(4,9)
(47,4)
Exchange rate translation difference
15,9
–
15,7
31,6
Net balance at the end of the year
1 704,6
20,9
525,9
2 251,4
Trademarks comprise well-established, growing brands. Except for trademarks with a cost of
R248,3 million (2013: R389,8 million) which are amortised, the brand portfolio is considered to
have indefinite useful lives and are therefore not amortised. Refer to the accounting policies for further
details on amortisation.