14 – Intangible assets

Additions to intangible assets in 2021 included EUR 33 mn additions for internally generated assets mainly related to capitalized development costs.

The transfers were mainly referring to the shift of the intangible assets related to Maui in New Zealand to tangible assets as the status of proved reserves was achieved.

Intangible assets with a total carrying amount of EUR 74 mn (2020: EUR 75 mn) were transferred to assets held for sale, mainly related to OMV’s 25% stake in the Norwegian oil field Wisting, which was sold in Q4/21. For details see Note 20 – Assets and liabilities held for sale and Note 26 – Statement of cash flows.

Further details on impairments and write-ups can be found in Note 7 – Depreciation, amortization, impairments and write-ups.

Goodwill arising from business combinations has been allocated to the following CGUs and groups of CGUs, for impairment testing:

In 2021, the goodwill allocated to Exploration & Production increased due to favorable currency translation differences.

In the Refining & Marketing Segment, the goodwill allocated to Refining West decreased due to unfavorable currency translation differences.

Goodwill impairment tests based on a value in use calculation have been performed and did not lead to any impairments. For the impairment test of the goodwill allocated to Middle East and Africa, an after-tax discount rate of 9.44% (2020: 9.23%) and for goodwill allocated to SapuraOMV an after-tax discount rate of 8.0% (2020: 7.88%) was used.

An after-tax discount rate of 12.73% related to the goodwill allocated to Middle East and Africa and an after-tax discount rate of 9.19% related to SapuraOMV goodwill would lead to zero headroom. For details regarding changes in price assumptions and the impact on Goodwill refer to Note 2 – Accounting policies, judgements and estimates.

For details on contractual obligations for the acquisition of intangible assets refer to Note 15 – Property, plant and equipment.