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• Annual Report
• Financial Statements
• Corporate Governance

Notes to the Consolidated Financial Statements – Contents

13. Intangible Assets

in PLN m

Dec 31 2013	Development expenses	Goodwill	Perpetual usufruct right to land – acquired for consideration*	Software	CO2 emission allowances	Other intangible assets	Total
Net carrying amount as at Jan 1 2013, net of accumulated amortisation and impairment losses	1	44	672	213	50	166	1,146
Increase	-	-	(1)	-	71	-	70
Decrease	-	-	(2)	(1)	-	-	(3)
Currency translation differences	-	-	-	-	-	(1)	(1)
Transfers from tangible assets under construction and between asset groups	-	-	4	123	-	54	181
Impairment losses	-	-	(1)	(1)	-	(24)	(26)
Amortisation expense for the reporting period	-	-	(2)	(76)	(84)	(41)	(203)
Net carrying amount as at Dec 31 2013, net of accumulated amortisation and impairment losses	1	44	670	258	37	154	1,164
As at Jan 1 2013
Gross value	5	44	688	438	212	318	1,705
Accumulated amortisation and impairment losses	(4)	-	(16)	(225)	(162)	(152)	(559)
Net carrying amount as at Jan 1 2013	1	44	672	213	50	166	1,146
As at Dec 31 2013
Gross value	5	44	689	583	283	341	1,945
Accumulated amortisation and impairment losses	(4)	-	(19)	(325)	(246)	(187)	(781)
Net carrying amount as at Dec 31 2013	1	44	670	258	37	154	1,164

Dec 31 2012	Development expenses	Goodwill	Perpetual usufruct right to land – acquired for consideration*	Software	CO2 emission allowances	Other intangible assets	Total
As at Jan 1 2012, net of accumulated amortisation and impairment losses	2	-	71	136	-	134	343
Increase	-	-	-	-	54	56	110
Changes in the Group	-	44	598	4	190	58	894
Decrease	-	-	(1)	(1)	(32)	-	(34)
Currency translation differences	-	-	-	-	-	(3)	(3)
Transfers from tangible assets under construction and between groups	-	-	7	132	-	1	140
Impairment losses	-	-	-	-	-	(8)	(8)
Amortisation expense for the reporting period	(1)	-	(3)	(58)	(162)	(72)	(296)
As at Dec 31 2012, net of accumulated amortisation and impairment losses	1	44	672	213	50	166	1,146
As at Jan 1 2012
Gross value	5	-	84	308	-	178	575
Accumulated amortisation and impairment losses	(3)	-	(13)	(172)	-	(44)	(232)
Net carrying amount as at Jan 1 2012	2	-	71	136	-	134	343
As at Dec 31 2012
Gross value	5	44	688	438	212	318	1,705
Accumulated amortisation and impairment losses	(4)	-	(16)	(225)	(162)	(152)	(559)
Net carrying amount as at Dec 31 2012	1	44	672	213	50	166	1,146

* The Group also holds perpetual usufruct right to land obtained free of charge, which is disclosed exclusively as an off-balance-sheet item.

13.1. Impairment losses on intangible assets

in PLN m

	Development expenses	Goodwill	Perpetual usufruct right to land – acquired for consideration	Software	CO2 emission allowances	Other intangible assets	Total
As at Jan 1 2013	-	-	3	-	-	8	11
Increase	-	-	2	1	-	29	32
Decrease	-	-	(1)	-	-	(4)	(5)
As at Dec 31 2013	-	-	-	-	-	(1)	(1)
As at Jan 1 2012	-	-	4	1	-	33	38
Increase	-	-	3	-	-	-	3
Decrease	-	-	-	-	-	8	8
As at Dec 31 2012	-	-	3	-	-	8	11

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Polish Oil & Gas Company (PGNiG SA) KRS 0000059492, NIP 525-000-80-28, share capital 5,900,000,000 PLN – fully paid Headquarters – 25 M. Kasprzaka Street, 01-224 Warsaw, Poland Phone: +48 22 589 45 55, Fax: +48 22 691 82 73