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Note 8 - Intangible assets

Group, SEK million Capitalised development projects   Ongoing projects   Total Parent Company   Goodwill   Licenses   Other   Total Group
Accumulated cost                          
Opening balance, 1 January 2012  488   10   498   19   19   1   537
Acquisitions  5   31   36     0     36
Reclassifications  10   –10   0         0
Sales/disposals             
Closing balance, 31 December 2012 502   31   533   19   19   1   572
                           
Opening balance, 1 January 2013 502   31   533   19   19   1   572
Acquisitions 3   98   101         101
Reclassifications 16   –16   0         0
Sales/disposals ––   ––       –0     –0
Closing balance, 31 December 2013 522   112   634   19   19   1   673
                           
Accumulated amortisation and impairment                          
Opening balance, 1 January 2012  –313     –313     –15   –1   –328
Amortisation for the year  –60     –60     –3   –0   –63
Impairment for the year             
Sales/disposals             
Closing balance, 31 December 2012 –372     –372     –18   –1   –391
                           
Opening balance, 1 January 2013 –372     –372     –18   –1   –391
Amortisation for the year –56     –56     –1   0   –58
Impairment for the year            
Sales/disposals         0     0
Closing balance, 31 December 2013 –428     –428     –19   –1   –448
                           
Carrying amount 31 December 2012 130   31   161   19   2   0   182
Carrying amount 31 December 2013 93   112   205   19   0   0   225
                           

Goodwill

The carrying amount of SEK 19.1 million (19.1) for goodwill pertains to shares acquired in the company Playscan AB, whose operations comprise the development, maintenance and sale of the responsible gaming tool, Playscan.

Impairment assessments

Annual testing is carried out of the Group’s intangible assets when indications exist of a need for impairment. When measuring the value of intangible assets, the recoverable amount is calculated on future estimated cash flows. The estimated cash flows are primarily estimated sales and expenses for each respective asset. The sales assessment has been completed by means of internal analyses of the available market and the market penetration attained for the games and lotteries of the particular assets.

Testing shows that no impairment requirement exists: the recoverable amount exceeds the carrying amount for all tested cash-generating units by an ample margin. Completed sensitivity analyses show that even material changes in the cost of capital, for example, do not change this relation.

The cost of capital calculated by the company takes into account the risk-free interest rate and market risks. In addition to these, there are a number of operationally specific risks for the gaming market. For 2013, the cost of capital was 4.9%, based on the aforementioned factors.

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