Intangible assets

Goodwill

Customer databases

Licences and software

Concessions, permits and rights

Development costs

Total

Cost

At 1 January 2011

170

107

63

234

5

579

Investments

3

3

Acquisitions

75

3

11

89

Disposals

– 13

– 2

– 15

Reclassification other

– 3

16

1

14

At 31 December 2011

167

182

72

245

4

670

Investments

1

1

2

Disposals

– 3

– 1

– 4

Reclassification other

1

10

– 1

10

At 31 December 2012

168

182

80

244

4

678

Accumulated depreciation and impairment

At 1 January 2011

45

54

96

5

200

Annual depreciation and impairment

13

6

11

2

32

Disposals

– 13

– 2

– 15

Reclassification other

5

– 1

– 1

3

At 31 December 2011

58

52

106

4

220

Annual depreciation and impairment

14

8

20

42

Disposals

– 2

– 2

Reclassification other

3

– 1

2

At 31 December 2012

72

61

125

4

262

Carrying amount

At 31 December 2011

167

124

20

139

450

At 31 December 2012

168

110

19

119

416

Cash-generating units for goodwill are generally the business segments. All goodwill is allocated to the Eneco segment. The value in use of the cash-generating units is based on expected future cash flows derived from the 2013 budget, the 5-year plans and thereafter the ‘terminal value’. No account is taken of long-term growth. The pre-tax discount rate, which assumes the same theoretical debt/equity ratio as in 2011 and reflects the risks of the activities, was 9% (2011: 9%).

See Note 13 (Property, plant and equipment) for information on the impairment analysis and impairment of the electricity-related property, plant and equipment and intangible assets of the Eneco cash-generating unit.

Customer databases relate mainly to Oxxio, which was acquired in 2011, and to REMU N.V., which was acquired in 2003.

Concessions, permits and rights consist of € 150 million paid in 2005 to take over an agreement covering the delivery of up to 820 MW of electricity by Rijnmond Energy C.V. There was an addition of € 45 million in 2008 for licences granted for existing and future wind farms in Belgium on the acquisition of Eneco Wind Belgium S.A. (formerly: Air Energy S.A.).