5.5 Goodwill

Goodwill, with the initial value determined using a manner described in Note 5.4, is not subject to amortization; instead, it is subject to the impairment test at the end of each financial year and each and every time when impairment indications occur. Goodwill is tested for impairment based on the assessment of the recoverable amount of each cash-generating units (CGU) and comparing it with their carrying amount (including the allocated goodwill). The tested CGU cannot be larger than operating segment. Should the recoverable amount be lower, the impairment loss is first allocated to goodwill.

Goodwill related to subsidiaries is recognized under "Goodwill", whereas goodwill related to associates – under "Entities measured using the equity method" in the consolidated statement of financial position.