2008 Registration Document - Rexel

10. LONG-TERM ASSETS10.1 Goodwill and intangible assets(in millions of euros)StrategicpartnershipsDistributionnetworks andbannersSoftwareand otherintangibleassets (1)Total intangibleassetsGoodwillGross carrying amount as of January 1, 2007 185.6 443.4 216.9 845.9 2,586.5Effect of acquisitions and divestitures – – 11.9 11.9 109.3Additions – – 21.1 21.1 –Disposals – – (12.0) (12.0) –Exchange differences – (6.9) (7.5) (14.4) (50.0)Other changes – (32.7) 30.1 (2.6) (4.7)Gross carrying amount as of December 31, 2007 185.6 403.8 260.5 849.9 2,641.1Effect of acquisitions and divestitures – 165.5 159.3 324.8 1,230.2Additions – – 21.2 21.2 –Disposals – – (4.1) (4.1) –Exchange differences – (25.4) (15.8) (41.2) (152.1)Other changes (2) – – (85.1) (85.1) 56.6Gross carrying amount as of December 31, 2008 185.6 543.9 335.9 1,065.4 3,775.8Accumulated amortization and depreciationas of January 1, 2007 – – (149.0) (149.0) (24.0)Change in consolidation scope – – (0.7) (0.7) –Amortization expense – – (27.8) (27.8) –Impairment losses – – – – (8.2)Decrease of amortization – – 11.6 11.6 –Exchange differences – – 2.2 2.2 0.1Other changes – – (0.2) (0.2) (0.7)Accumulated amortization and depreciationas of December 31, 2007 – – (163.9) (163.9) (32.8)Change in consolidation scope – – (16.3) (16.3) –Amortization expense – – (42.1) (42.1) –Impairment losses – – (4.1) (4.1) (85.0)Decrease of amortization – – 2.0 2.0 –Exchange differences – – 2.3 2.3 4.5Other changes (2) – – 84.0 84.0 –Accumulated amortization and depreciationas of December 31, 2008 – – (138.1) (138.1) (113.3)Carrying amount at January 1, 2007 185.6 443.4 67.9 696.9 2,562.5Carrying amount at December 31, 2007 185.6 403.8 96.6 686.0 2,608.3Carrying amount at December 31, 2008 185.6 543.9 197.8 927.3 3,662.5(1) Including customer relationships for €47.9 million as of December 31, 2008.(2) Other changes relate to write-off of softwares and consist of a transfer of accumulated amortization that were eliminated against gross carryingamount for €85.0 million.REXEL 2008 | PAGE 179