# Assets

Amortization periods are based on the standard depreciation amortization periods provided by the Bundesfinanzministerium.

## Tangible assets

### Property, plant and equipment

Property, plant and equipment are accounted at acquisition costs including incidental costs or production costs net of scheduled straight-line depreciation.

Scheduled depreciation is based on the estimated useful live of the respective assets. Property, plant and equipment have estimated useful lives between three to fifteen years.

Advance payments and assets under construction are capitalized at acquisition costs or construction costs.

Tangible fixed assets with a value up to EUR 800 are fully written off in the year of acquisition.

## Intangible assets

### Internally generated

Internally generated intangible assets are accounted in accordance with the relevant capitalization option pursuant to section 248 (2) HGB. Internally generated intangible assets are capitalized at production costs and, if they have a limited life, are amortized over their useful lives. Scheduled amortization is carried out on a straight-line basis over the useful life of five years. A reversal of impairment losses is recognized when there is an indication that the reasons for write-downs recognized in previous years are no longer present. 

### Acquired from third parties

Intangible assets acquired from third-parties are recognized at acquisition costs including incidental costs and are amortized if they have a limited life. Amortization is charged using the straight-line method over an economic useful life of three to ten years.

## Impairment of non-financial assets

on-financial assets are tested for impairment when there are indicators that the carrying amounts may not be recoverable or when an annual impairment test is required.

When value-in-use calculations are undertaken, management has to estimate the expected future cash flows from the asset or cash-generating unit and choose a suitable discount rate in order to calculate the present value of those cash flows.

## Work in-progress

Work in progress is measured at the production costs considering a loss-free valuation. The production costs include the minimum components as prescribed under section 255 (2) HGB and mainly relate to personnel expenses and expenses for external services.

2022-01-01 - Version 1.0
