77
7.- INTANGIBLE ASSETS
The breakdown and movements under this heading during 2014 and 2013 were as follows (€Thousand):
Balance
at
31.12.2012
Change in
consolidation
boundary
Inclusions/
Allowances Retirements Assignments
(Note 8)
Balance
at
31.12.2013
Change in
consolidation
boundary
Exchange
differences
Inclusions/
Allowances Retirements Assignments
Balance
at
31.12.2014
COST
Rights of use 30,298
-
251
-
-
30,549
-
-
99
-
(38)
30,610
Rental
agreement
premiums
70,020
-
-
(1,590)
-
68,430
-
(4)
-
(757)
-
67,669
Concessions,
patents and
trademarks
34,610
-
-
(12)
64
34,662
-
-
87
(503)
(1,646)
32,600
Software
applications
62,104
(9)
10,389
(76)
(2,535)
69,873
-
(7)
21,592
(4,106)
(383)
86,969
197,032
(9)
10,640 (1,678)
(2,471)
203,514
-
(11)
21,778 (5,366)
(2,067)
217,848
CUMULATIVE AMORTISATION
Rights of use (16,388)
-
(1,298)
-
-
(17,686)
-
-
(1,221)
(10)
3
(18,914)
Rental
agreement
premiums
(12,763)
-
(1,690)
636
(202)
(14,019)
-
4
(924)
260
6,034 (8,645)
Concessions,
patents and
trademarks
(11,156)
-
929
12
-
(10,215)
-
-
(556)
483
(5,440)
(15,728)
Software
applications
(52,167)
9
(14,520)
46
636 (65,996)
-
7
(8,033)
788
(41)
(73,275)
(92,474)
9
(16,579)
694
434 (107,916)
-
11
(10,734)
1,521
556 (116,562)
Impairment
(12,590)
-
(1,195)
1,163
(10,360) (22,982)
-
-
(464)
141
861
(22,444)
NET BOOK
VALUE
91,968
72,616
78,842
Transfers mainly record the reclassification of all the assets of companies classified as assets available for sale and then disposed of in the context
of Sotogrande, S.A. leaving the scope of consolidation (see note 9), for a net value of €1.9 million.
Impairment write-offs refer to the withdrawal of licences of Hesperia hotels which we no longer manage (Hotel Hesperia Emperatriz and Hesperia
La Toja) in 2014.
7.1 Rights of Usufruct
On 28 July 1994, NH Hotel Group, S.A. was granted a right of usufruct on Hotel NH Plaza de Armas in Seville, which is owned by Red Nacional de los
Ferrocarriles Españoles (RENFE), for a thirty-year period commencing on the date the agreement was executed. NH Hotel Group, S.A. agreed to pay
RENFE €30.2 million in accordance with a payment schedule which concluded this year.
The Group has reflected the entire amount agreed upon as the transaction’s price in the “Rights of use” item. In order to correctly accrue this
price, the result of spreading out the cost over the thirty-year term of the agreement is assigned to the consolidated comprehensive profit and loss
statement in accordance with an increasing instalment with a percentage annual growth of 4%.
7.2 Software Applications
The most significant inclusions in 2014 were in Spain, as a result of the investments made to develop the new website and implement the SAP tool.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
