Schedule of Goodwill


€ millions
Historical cost
1/1/2020		29,260
Foreign currency exchange differences		-2,010
Additions from business combinations		395
Retirements/disposals		-9
12/31/2020		27,636
Foreign currency exchange differences		1,838
Additions from business combinations		1,737
Retirements/disposals		-20
12/31/2021		31,191

Accumulated amortization
1/1/2020		101
Foreign currency exchange differences		-3
12/31/2020		98
Foreign currency exchange differences		3
12/31/2021		101

Carrying amount
12/31/2020		27,538
12/31/2021		31,090

Summary of Goodwill Impairment Testing Key Assumptions and Detailed Planning Period

Percent, unless otherwise stated

Applications, Technology &

Services

Qualtrics

Emarsys

Business Process

Support

Intelligence

2021

2020

2021

2020

2021¹

2020

2021

2020²

2021

2020

Budgeted revenue growth (average of the budgeted period)

8.4

5.4

0.4

3.4

NA

20.6

15.3

NA

31.7

NA

After-tax discount rate

8.8

8.8

7.9

7.2

NA

9.7

10.0

NA

11.5

NA

Terminal growth rate

3.0

3.0

0.0

3.0

NA

3.0

3.0

NA

3.0

NA

Detailed planning period (in years)

5

NA

13

12

NA

14

NA

¹ As we are using Level 1 inputs for Qualtrics in 2021, no information on assumptions and the detailed planning period is presented.

² No formal test was performed in 2020 as the acquisition was after the annual testing date. However, we performed a quantitative and qualitative analysis to monitor whether triggering events exist.

Goodwill by Reportable Operating Segment

Summary of Goodwill Impairment Testing Sensitivity to Change in Assumptions


		Emarsys
	2021	20201
Budgeted revenue growth (change in pp)	-1.7	NA
Target operating margin at the end of the budgeted period (change in pp)	-14	NA

¹ No formal test was performed in 2020 as the acquisition was after the annual testing date. However, we performed a quantitative and qualitative analysis to monitor whether triggering events exist.

Goodwill by Reportable Operating Segment