24
arising in a business combinations in this connection. The fair value of the licence was calculated
on the basis of its capacity to generate income with an indefinite useful life using the discounted
cash flowmethod. The royalty relief method was used to calculate the fair value of the trademark,
considering a useful life of 20 years.
At 2012 year-end, the allocation of the fair values of the assets acquired and liabilities assumed, in
particular of trademarks and licences, was subject to possible adjustments within one year from
the acquisition date, as required by accounting legislation. The purpose of these adjustments is to
reflect, in general, any additional information obtained during the aforementioned measurement
period, and, in the Company's particular case, the information referring to the Spanish Supreme
Court judgment of 27 November 2012 relating to the assignment of digital multiplexes with
national coverage. Once this period had elapsed and following a review by the Company, based on
a report by an independent expert, of the values initially assigned to the aforementioned assets
(using various widely accepted valuationmethods for this purpose), there was no change in those
values.
Had the business combination been performed at the beginning of 2012, revenue would have
amounted to EUR 671,483 thousand and a loss of EUR 16,249 thousand would have been incurred
in the year.
After integration of the merged entity at the acquisition date, and in view of the fact that it was
not possible to extract separate information on the revenue and net profit or loss attributable to
the business combination, this informationwas not included.
The directors consider that these pro forma figures represented a reasonable approximation of the
annual performance of the new merged entity and an initial point of reference for comparison in
future years. In order to determine these pro forma revenue and profit or loss figures, Company
management took into account non-current asset depreciation and amortisation calculated on the
basis of the acquisition-date fair values and borrowing costs calculated on the basis of the situation
of the debt existing after the date of the business combination.
Lastly, it should be noted that fees paid to legal advisers and other professionals involved in the
transaction amounted to EUR 3,428 thousand, EUR 2,131 thousand of which related to 2012 and
was recognised under "Other Operating Expenses" in the income statement.
6.- Intangible assets
The changes in “Intangible Assets” in the balance sheets in 2013 and 2012 were as follows (in
thousands of euros):
Cost
Balance at
01/01/13
Additions
Increase or
decrease due
to transfer
Balance at
31/12/13
Licence
60,666
-
-
60,666
Trademark
15,819
-
-
15,819
Computer software
33,675
2,583
(368)
35,890
Other intangible assets
304
-
-
304
Total cost
110,464
2,583
(368)
112,679
Accumulated amortisation
Balance at
01/01/13
Charge for
the year
Increase or
decrease due
to transfer
Balance at
31/12/13
Trademark
(198)
(791)
-
(989)
Computer software
(27,127)
(2,989)
15
(30,101)
Other intangible assets
(304)
-
-
(304)
Total accumulated amortisation
(27,629)
(3,780)
15
(31,394)
Total intangible
assets
Balance at
01/01/13
Balance at
31/12/13
Cost
110,464
112,679
Accumulated amortisation
(27,629)
(31,394)
Total, net
82,835
81,285
