6. Financial statements

Note 14 Impairment/reversals

14.1 Impairment by category of asset

Details of impairment recognised and reversed are as follows:

(in millions of euros)Notes20192018
Impairment of goodwill

Impairment of goodwill

Notes

21

Impairment of goodwill

2019

(57)

Impairment of goodwill

2018

-

Impairment of other intangible assets

Impairment of other intangible assets

Notes

22

Impairment of other intangible assets

2019

(47)

Impairment of other intangible assets

2018

(52)

Impairment of tangible assets

Impairment of tangible assets

Notes

24-25

Impairment of tangible assets

2019

(299)

Impairment of tangible assets

2018

(238)

IMPAIRMENT NET OF REVERSALS

IMPAIRMENT NET OF REVERSALS

2019

(403)

IMPAIRMENT NET OF REVERSALS

2018

(290)

*Restated for the impacts of IFRS 5 concerning the discontinued E&P operations (see note 2.3).

In 2018, the €(290) million of impairment recorded concerned:

  • thermal assets: €(122) million in the United Kingdom;
  • various CGUs of EDF Renewables (particularly a wind farm and a biomass technology company in the United States): €(103) million;
  • intangible assets other than goodwill: €(52) million, notably including impairment of €(34) million in respect of the British Energy brand.

Impairment of €(39) million was also booked at 31 December 2018 in respect of associates (see note 26).

Impairment recognised in 2019 amounts to €(403) million. Details are given below.

14.2 Impairment tests on goodwill, intangible assets and property, plant and equipment

The following tables present the results of impairment tests carried out on the main goodwill, intangible assets with indefinite useful lives and other Group assets in 2019, and some of the key assumptions used.

For application of IFRS 16 at 1 January 2019, where relevant the Group adapted the impairment test methodology as appropriate to the specific features of each CGU.

IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES
Operating segmentCash-Generating Unit or assetNet book valueWACC after taxGrowth rate to infinityImpairment 2019
United Kingdom

United Kingdom

Cash-Generating Unit or asset

EDF Energy goodwill

United Kingdom

Net book value

7,653

United Kingdom

WACC after tax

6.0%

United Kingdom

Growth rate to infinity

-

United Kingdom

Impairment 2019

-



Cash-Generating Unit or asset

Edison brand


Net book value

945


WACC after tax

6.1%


Growth rate to infinity

2.0%


Impairment 2019

-

Italy

Italy

Cash-Generating Unit or asset

Zephyro goodwill (energy services)

Italy

Net book value

17

Italy

WACC after tax

6.1%

Italy

Growth rate to infinity

-

Italy

Impairment 2019

(17)

Framatome

Framatome

Cash-Generating Unit or asset

Framatome goodwill

Framatome

Net book value

1,326

Framatome

WACC after tax

5.7%

Framatome

Growth rate to infinity

0.5%

Framatome

Impairment 2019

-



Cash-Generating Unit or asset

Dalkia goodwill


Net book value

555


WACC after tax

4.3%


Growth rate to infinity

1.7%


Impairment 2019

-



Cash-Generating Unit or asset

Poland CGU goodwill


Net book value

8


WACC after tax

6.3%


Growth rate to infinity

1.7%


Impairment 2019

(8)



Cash-Generating Unit or asset

Dalkia Wastenergy goodwill


Net book value

5


WACC after tax

-


Growth rate to infinity

-


Impairment 2019

(5)

Dalkia

Dalkia

Cash-Generating Unit or asset

Dalkia brand

Dalkia

Net book value

137

Dalkia

WACC after tax

4.8%

Dalkia

Growth rate to infinity

1.7%

Dalkia

Impairment 2019

-

EDF Renewables

EDF Renewables

Cash-Generating Unit or asset

Futuren goodwill (Germany)

EDF Renewables

Net book value

17

EDF Renewables

WACC after tax

4.25%

EDF Renewables

Growth rate to infinity

1.5%

EDF Renewables

Impairment 2019

(17)

Other impairment



Other impairment

Impairment 2019

(10)

Operating segment

IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES

Cash-Generating Unit or asset

(57)