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Allianz Annual Report 2012

non-current assets at fair value less costs to sell an impair- ment loss of € 3 mn was recognized for the year ended 31 December 2012. 14 – Non-current assets and assets of disposal groups classified as held for sale Non-current assets and assets of disposal groups classified as held for sale D 058 € mn as of 31 December 2012 2011 Assets of disposal groups classified as held for sale LLC ­Allianz Life, Moscow – 4 ­­­Seed money investments – 7 Subtotal – 11 Non-current assets classified as held for sale ­­­Real estate held for investment 15 3 Subtotal 15 3 Total 15 14 Non-current assets classified as held for sale of € 15 mn comprise real estate held for investment allocated to the Life/Health segment in the U.S. and Corporate and Other segment in Germany, none of which is individually mate- rial. The sale of these assets is expected to be completed during the first quarter of 2013. Upon measurement of the Fixed assets of Alternative Investments Fixed assets of Alternative Investments1 D 057 € mn 2012 2011 2010 Cost as of 1 January 1,573 1,587 1,152 Accumulated depreciation as of 1 January (460) (470) (330) Carrying amount as of 1 January 1,113 1,117 822 Additions 237 176 177 Changes in the consolidated subsidiaries of the ­­­Allianz Group – (46) 248 Disposals (7) (6) (3) Foreign currency translation adjustments – 2 13 Depreciation (118) (130) (140) Carrying amount as of 31 December 1,225 1,113 1,117 Accumulated depreciation as of 31 December 579 460 470 Cost as of 31 December 1,804 1,573 1,587 1 Includes fixed assets of wind parks, solar parks, manroland and Selecta. 15 – Intangible assets Intangible Assets D 059 € mn as of 31 December 2012 2011 Intangible assets with indefinite useful lives Goodwill 11,679 11,722 Brand names 1 302 310 Subtotal 11,981 12,032 Intangible assets with finite useful lives Long-term distribution agreements 2 796 941 Customer relationships  152 207 Other 3 161 124 Subtotal 1,109 1,272 Total 13,090 13,304 1 Includes primarily the brand name of Selecta AG, Muntelier. 2 Consists of the long-term distribution agreements with Commerzbank AG of € 410 mn (2011: € 539 mn) and Banco Popular S.A. of € 386 mn (2011: € 402 mn). 3 Includes primarily acquired business portfolios and renewal rights of € 67 mn (2011: € 44 mn), other distribution rights of € 20 mn (2011: € 22 mn), heritable building rights of € 15 mn (2011: € – mn), bancassurance agreements of € 10 mn (2011: € 12 mn) and research and develop- ment costs of € 11 mn (2011: € 9 mn). Intangible assets with indefinite useful lives Goodwill Goodwill D 060 € mn 2012 2011 2010 Cost as of 1 January 12,527 12,603 12,291 Accumulated impairments as of 1 January (805) (583) (277) Carrying amount as of 1 January 11,722 12,020 12,014 Additions 72 7 56 Disposals – (28) – Foreign currency translation adjustments (26) 67 256 Impairments (89) (337) (306) Reclassifications into non-current assets and assets of disposal groups classified as held for sale – (7) – Carrying amount as of 31 December 11,679 11,722 12,020 Accumulated impairments as of 31 December 894 805 583 Cost as of 31 December 12,573 12,527 12,603 Annual Report 2012    Allianz Group282

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