Alguns exemples de casos tractats per la USCE i per Fiscalia

In 2012, the impairment charge of £57m comprised the Safariland (£27m) and Tensylon (£12m) businesses disposed of during 2012 and the Commercial Armored Vehicles business (£18m) disposed of during 2013, all within the Land & Armaments CGU.

Impairment – intangible assets

In 2013, the impairment charge of £22m relates to the Electronic Systems (£4m), Cyber & Intelligence (£8m) and Platforms & Services (US) (£10m) reporting segments.

In 2012, the impairment charge of £29m primarily related to the Land & Armaments business within the Platforms & Services (US) reporting segment and included £21m in respect of the Safariland business disposed of during 2012.

12. Property, plant and equipment

Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. The cost of self-constructed assets includes the cost of materials, direct labour and an appropriate proportion of production overheads. The cost of demonstration assets is written off as incurred.

Assets held for leasing out under operating leases are included in property, plant and equipment at cost less accumulated depreciation and impairment losses.

Depreciation

Depreciation is provided, normally on a straight-line basis, to write off the cost of property, plant and equipment over their estimated useful lives to any estimated residual value, using the following rates:

Buildings up to 50 years, or the lease term if shorter

Plant and machinery:

Computing equipment and motor vehicles 4 to 5 years

Other equipment 10 to 20 years, or the project life if shorter

For certain items of plant and equipment in the Group’s US businesses, depreciation is normally provided on a basis consistent with cost reimbursement profiles under US government contracts. Typically this provides for a faster rate of depreciation than would otherwise arise on a straight-line basis.

No depreciation is provided on freehold land and assets in the course of construction.

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each balance sheet date. Where applicable, useful lives reflect the component accounting principle.

Impairment

The carrying amounts of the Group’s property, plant and equipment are reviewed at each balance sheet date to determine whether there is any indication of impairment in accordance with the policy shown on page 146.

FIN AN C IA L S TA TE ME N TS FINANCIAL STATEMENTS

BAE SyStEmS AnnuAl RepoRt 2013 149

Notes to the Group accounts — balance sheet continued

11. Intangible assets (continued)

Goodwill allocated to CGUs which are largely dependent on US government spending on defence, aerospace and security represents £7.5bn (2012 £8.5bn) of the Group’s total goodwill balance.

Allocated goodwill Pre-tax discount rate

Cash-generating unit Key assumptions 2013£bn 2012 £bn 2013% 2012%

Electronic Systems Continued demand from the US government for

electronic warfare systems (where the business has a leadership position), other technology-based solutions and growth in the commercial avionics market

3.1 3.1 10.8 8.2

Intelligence & Security

(within Cyber & Intelligence) Continued demand in the US for the Group’s services in the areas of homeland security, law enforcement and counter-intelligence

0.9 1.3 10.8 8.2

Support Solutions

(within Platforms & Services (US)) Continued demand in the US for complex infrastructure, maritime and aviation services, and operations support

0.9 1.0 10.8 8.2

Land & Armaments

(within Platforms & Services (US)) Continued demand in the Group’s principal markets for existing and successor military tracked vehicles, naval guns, missile launchers, artillery systems, munitions, upgrade programmes and support

2.6 3.1 9.6 7.7

The final year growth rate assumption in the value-in-use calculations, after adjusting for assumed 2% inflation, is 0% (2012 0%). The Group monitors changes in defence budgets on an ongoing basis. In 2012, there was uncertainty as to the potential impact of Sequestration or other budget reductions that could result in indiscriminate cuts to US government spending. The future cash flow projections used did not include the potential full impact of Sequestration. In 2013, the future cash flow projections used in the IBP assume that, beyond the US 2015 fiscal year, there are defence budget reductions equivalent to Sequestration levels.

The headroom, calculated as the difference between net assets including allocated goodwill as at 31 December 2013 and the value-in-use calculations, for the CGUs listed above, is shown below. The table also shows the headroom assuming a 1% reduction in the terminal value growth rate assumption used in the value-in-use calculations.

Headroom as at 31 December

Headroom assuming a 1% reduction in terminal value growth rate assumption

Cash-generating unit 2013£bn 2012 £bn 2013£bn 2012£bn

Electronic Systems 0.3 3.7 (0.2) 2.2

Intelligence & Security – 0.5 (0.1) 0.1

Support Solutions 0.2 1.5 – 0.9

Land & Armaments – 1.8 (0.3) 0.7

Other CGUs

The remaining goodwill balance of £1.9bn (2012 £1.9bn) is allocated across multiple CGUs, including £0.5bn in the Applied Intelligence (formerly BAE Systems Detica) CGU, with no individual CGU exceeding 10% of the Group’s total goodwill balance. The majority of the projected cash flows within these CGUs are underpinned by expected levels of primarily UK government spending on defence, aerospace and security, and the Group’s ability to capture a broadly consistent market share. In the case of Applied Intelligence, the future cash flow projections are based on the expectation of growth in cyber and intelligence, in the UK and overseas government markets, together with increasing demand for products and services in commercial markets.

Impairment – goodwill

In 2013, the impairment charge of £865m comprises the US Intelligence & Security (£417m) and Land & Armaments (£448m) CGUs. The impairments in respect of both of these businesses have arisen as a result of the increase in the Group’s post-tax weighted average cost of capital and a reduction in the future cash flow projections which include an estimate of reductions in US defence spending. In 2012, the impairment charge of £57m comprised the Safariland (£27m) and Tensylon (£12m) businesses disposed of during 2012 and the Commercial Armored Vehicles business (£18m) disposed of during 2013, all within the Land & Armaments CGU.

Impairment – intangible assets

In 2013, the impairment charge of £22m relates to the Electronic Systems (£4m), Cyber & Intelligence (£8m) and Platforms & Services (US) (£10m) reporting segments.

In 2012, the impairment charge of £29m primarily related to the Land & Armaments business within the Platforms & Services (US) reporting segment and included £21m in respect of the Safariland business disposed of during 2012.

12. Property, plant and equipment

Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. The cost of self-constructed assets includes the cost of materials, direct labour and an appropriate proportion of production overheads. The cost of demonstration assets is written off as incurred.

Assets held for leasing out under operating leases are included in property, plant and equipment at cost less accumulated depreciation and impairment losses.

Depreciation

Depreciation is provided, normally on a straight-line basis, to write off the cost of property, plant and equipment over their estimated useful lives to any estimated residual value, using the following rates:

Buildings up to 50 years, or the lease term if shorter

Plant and machinery:

Computing equipment and motor vehicles 4 to 5 years

Other equipment 10 to 20 years, or the project life if shorter

For certain items of plant and equipment in the Group’s US businesses, depreciation is normally provided on a basis consistent with cost reimbursement profiles under US government contracts. Typically this provides for a faster rate of depreciation than would otherwise arise on a straight-line basis.

No depreciation is provided on freehold land and assets in the course of construction.

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each balance sheet date. Where applicable, useful lives reflect the component accounting principle.

Impairment

The carrying amounts of the Group’s property, plant and equipment are reviewed at each balance sheet date to determine whether there is any indication of impairment in accordance with the policy shown on page 146.

FINANCIAL STATEMENTS

150 BAE SyStEmS AnnuAl RepoRt 2013

Notes to the Group accounts — balance sheet continued