6. Goodwill
(in millions of
2012
2011(1)
2010
Dross carrying amount at January 1
3 487
2 900
2 707
\ccum ulated impairm ent at January 1
(73)
(72)
(67)
Jet carrying amount at January 1
3 414
2 828
2 640
icquisitions through business com binations and adjus
tments t
o initial purchase accoun
ting
3
517
12
classified as held for sale
(8)
m pairm ent loss
(136)
currency transaction effect
(84)
69
176
Dross carrying amount at December 31
3 396
3 487
2 900
Accumulated impa
Net carrying amo
(1) 2011 was revise
t at Decem ber 31
December 31
(207)
(73)
(72)
effe cts of t
r2012
3 189
Delta Ma
3 414
2 828
Goodwill is allocated and tested for impairment at the cash-generating unit (CGU) level that is expected to benefit from synergies
of the combination the goodwill resulted from, which at Delhaize Group represents an operating entity or country level, being also
the lowest level at which goodwill is monitored for internal management purpose.
During 2012, the G roup revisited its reporting to the CODM for its U.S. operations (see Note 3). As a consequence, Delhaize
Group's U.S. operations represent separate operating segments at which goodwill needs to be reviewed for impairment testing
purposes.
In 2011, Delhaize G roup acquired 100% of the retail company Delta Maxi Group, operating in five countries in the Balkan area.
During the first half of 2012, Delhaize G roup completed the purchase price allocation of the Delta Maxi acquisition and
recognized goodwill of €507 million at acquisition date (see Note 4.1).
The Group's CGUs with significant goodwill allocations are detailed below:
c
0
E
c
2012
2011
2010
Food Lion
USD
7 259
1 259
1 259
Hanna ford
USD
1 984
1 984
1 984
United Sta te s
EUR
2 458
2 507
2 427
Serbia
RSD
36 228
45 844
Bulgaria
BGN
30
Bosnia Herzegovina
BAM
50
Monten egro
EUR
10
Alba nia
ALL
1 161
Max i(1)
EUR
318
497
Belgium
EUR
186
184
182
Greece
EUR
207
207
202
Romania
EUR
20
19
17
Tota l
EUR
3 189
3 414
2 828
(1) 2011 was revised to reflect the effe cts of the completion in the second quarter of 2012 of the purcl
ase price allocation
of the Delta Maxi
acquisition.
In accordance with the accounting policies stated in Note 2.3, Delhaize Grou
goodwill and, in addition, whenever events or circumstances indicate that an i m
of goodwill involves comparing the recoverable amount of each CGU with its
of an impairment loss if the carrying value exceeds the recoverable amount.
p condu cts a n
pairment may h
carrying value,
annual impair
ave occurred.
ncluding good
ment assessr
The impairm
dwill, and rec
n ent fo r
ent tes t
o gnition
The recoverable amount of each operating entity is determined based on the h
less cost to sell.
igher of value in
use calculations and the fa
ir value
The value in use ("VIU") calculations use local currency cash flow projections based on the latest available financial plans
approved by management for all CGUs, adjusted to ensure that the CGUs are tested in its current condition, covering a
three-year period, based on actual results of the past and using observable market data, where possible. Cash flows beyond
the three-year period are extrapolated to five years.
96 DELHAIZE GROUP FINANCIAL STATEMENTS'12
