4.3.14Intangible Assets
2023
Development costs | Software | Intangible assets under construction | Patents | Total | |
|---|---|---|---|---|---|
Cost | 38 | 28 | 100 | 19 | 185 |
Accumulated amortization and impairment | (29) | (20) | - | (19) | (68) |
Book value at 1 January | 9 | 8 | 100 | 0 | 117 |
Additions | 6 | 7 | 31 | - | 45 |
Amortization | (5) | (4) | - | - | (9) |
(Impairment)/impairment reversal | - | - | - | - | - |
Total movements | 1 | 3 | 31 | - | 36 |
Cost | 44 | 29 | 132 | 19 | 224 |
Accumulated amortization and impairment | (33) | (18) | - | (19) | (71) |
Book value at 31 December | 11 | 11 | 132 | 0 | 153 |
2022
Development costs | Software | Intangible assets under construction | Patents | Total | |
|---|---|---|---|---|---|
Cost | 34 | 25 | 67 | 19 | 145 |
Accumulated amortization and impairment | (25) | (15) | - | (19) | (59) |
Book value at 1 January | 9 | 11 | 67 | 0 | 86 |
Additions | 4 | 3 | 34 | - | 41 |
Amortization | (3) | (4) | - | - | (7) |
(Impairment)/impairment reversal | - | (2) | - | - | (2) |
Total movements | 1 | (3) | 34 | - | 31 |
Cost | 38 | 28 | 100 | 19 | 185 |
Accumulated amortization and impairment | (29) | (20) | - | (19) | (68) |
Book value at 31 December | 9 | 8 | 100 | 0 | 117 |
The increase in ’Intangible assets under construction’ mainly relates to costs capitalized relating to the design and implementation of the new global ERP system, the capitalization of software licenses and other capital expenditures related to the IT infrastructure upgrade project.
Amortization of development costs is included in ’Research and development expenses’ in the income statement in 2023 for US$5 million (2022: US$3 million).
Amortization of software is included in ’General and administrative expenses’ in the income statement in 2023 for US$4 million (2022: US$4 million).