Fair Value

In general, the fair value of the current assets corresponds to the carrying value. This also applies to the other intangible assets, property, plant and equipment, receivables from income taxes, accruals and deferrals, other non-current assets, and deferred taxes within the scope of the noncurrent assets. The valuation method used for the annual impairment test was calculated on the basis of a utilisation value determined by means of a discounted cash flow method. The utilisation value greatly exceeds the recognised goodwill, so that this asset is not impaired The amount in which the excess applies to goodwill-forming factors or off-balance-sheet intangible assets has not been determined. The carrying value of the long and short-term debts also basically corresponded to the fair value.