Annual Report 2010/11 - Sonova

18. other non-current financial assets
consolidated financial statements 121
1,000 cHf 31.3.2011 31.3.2010
financial assets at fair value through profit or loss 7,886 15,577
loans to associates 10,525 26,264
loans to third parties 32,673 39,596
Total 51,084 81,437
financial assets at fair value through profit or loss consist of minority interests in the danish patent holding company
HimPP a/s and in the danish software development companies Himsa ii a/s (Hearing instruments manufacturers software
association ii a/s) and Himsa ii K/s, in which the Group has invested, together with other leading hearing instrument
manufacturers, as well as four other minority interests in third party companies. Besides these non-controlling investments,
financial assets at fair value through profit or loss also consists of cash settled warrants in connection with the employee
share option program (refer to note 30).
long-term loans mainly include loans to customers and strategic business partners. the decrease compared to previous
year is due to acquisitions of associates (refer note 17) as well as to the reclassification of a previously disclosed long-term
loan to short-term. the loans are primarily denominated in cHf, eUR and cad. as of march 31, 2011, the respective repayment
periods vary between one and five years and the interest rates vary between 2.5% and 4.0%. Generally, the valuation
of the loans approximates to fair value.
19. intangible assets
1,000 cHf 31.3.2011
Goodwill software intangibles
relating to
acquisitions
other
intangibles
Cost
Balance april 1 962,072 33,823 184,939 51,632 1,232,466
changes through business combinations 131,216 146 41,842 271 173,475
additions1) 34,803 6,620 168 25,188 66,779
disposals2) (9,308) (2,206) (1,369) (167) (13,050)
exchange differences (121,942) (134) (21,183) (2,123) (145,382)
Balance March 31 996,841 38,249 204,397 74,801 1,314,288
Accumulated amortization and impairments
Balance april 1 (156,986) (22,654) (28,381) (4,525) (212,546)
additions (6,628) (20,312) 3) (1,677) (28,617)
disposals 1,765 280 38 2,083
Impairment (35,500) (35,500)
exchange differences 15,029 278 3,980 67 19,354
Balance March 31 (141,957) (27,239) (44,433) (41,597) (255,226)
Net book value
Balance april 1 805,086 11,169 156,558 47,107 1,019,920
Balance March 31 854,884 11,010 159,964 33,204 1,059,062
1) additions of goodwill primarily result from the changed earn-out agreement with insound medical (refer to note 20).
2) disposals of goodwill include primarily earn-out adjustments.
3) Relates to research and development (cHf 4.0 million) and sales and marketing (cHf 16.3 million).
total