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Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 9. Goodwill
Note 9.
Goodwill
(in millions of euros)
December 31, 2014
December 31, 2013
Goodwill, gross
22,622
31,539
Impairment losses
(13,293)
(14,392)
Goodwill
9,329
17,147
Changes in goodwill
(in millions of euros)
December 31,
2013
Impairment
losses
Business
combinations
Divestitures
in progress or
completed
Changes in foreign
currency translation
adjustments
and other
December 31,
2014
Canal+ Group
4,464
-
(a)
110
-
(1)
4,573
Universal Music Group
4,100
-
6
-
(b)
550
4,656
Vivendi Village
185
(c)
(91)
-
-
6
100
GVT
1,676
-
-
(1,676)
-
-
SFR
6,722
-
77
(6,799)
-
-
Total
17,147
(91)
193
(8,475)
555
9,329
(in millions of euros)
December 31,
2012
Impairment
losses
Business
combinations
Divestitures
in progress or
completed
Changes in foreign
currency translation
adjustments
and other
December 31,
2013
Canal+ Group
4,513
-
(46)
-
(3)
4,464
Universal Music Group
4,138
(5)
(d)
64
5
(102)
4,100
Vivendi Village
184
-
2
-
(1)
185
GVT
2,006
-
-
-
(330)
1,676
SFR
9,153
(2,431)
-
-
-
6,722
Maroc Telecom group
2,407
-
-
(2,392)
(15)
-
Activision Blizzard
2,255
-
-
(2,208)
(47)
-
Total
24,656
(2,436)
20
(4,595)
(498)
17,147
(a)
Notably includes goodwill attributable to Mediaserv and Thema acquired by Canal+ Overseas on February 13, 2014 and October 28, 2014,
respectively.
(b)
Includes €549 million related to foreign currency translation (EUR/USD).
(c)
Relates to full impairment losses on the goodwill of Digitick and Wengo (€43 million and €48 million, respectively).
(d)
Mainly relates to a €57 million adjustment to goodwill attributable to EMI Recorded Music, recorded within the 12-month period for the purchase
price allocation as required by IFRS 3. The final goodwill of EMI Recorded Music amounts to €358 million.
Goodwill impairment test
In 2014, Vivendi tested the value of goodwill allocated to its cash-
generating units (CGUs) or groups of CGU applying valuation methods
consistent with previous years. Vivendi ensured that the recoverable
amount of CGU or groups of CGU exceeded their carrying value (including
goodwill). The recoverable amount is determined as the higher of the
value in use determined by the discounted value of future cash flows
(discounted cash flow method (DCF)) and the fair value (less costs to sell),
determined on the basis of market data (stock market prices, comparable
listed companies, comparison with the value attributed to similar assets
or companies in recent transactions). For a description of the methods
used for the impairment test, please refer to Note 1.3.5.7.
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Annual Report 2014