CONSOLIDATED FINANCIAL STATEMENTS for the period from 1 July 2020 to 30 June 2021 Intangible assets 177,200 thousand in the opening IFRS statement of Purchased intangible assets are measured at cost financial position as at 1 July 2004, in accordance less amortisation based on their expected useful with the option permitted by IFRS 1.16. This valuation lives or at the lower recoverable amount. Player is based on the opinion of an independent expert. registrations reported in these financial statements The changes in accounting policies resulted as a are measured at cost in accordance with IAS 38 and consequence of an expert review of the remaining amortised on a straight-line basis over the term of useful life of the stadium property, which since 1 the individual contracts. July 2013 will be depreciated over 40 years (previously: 19.5 years). Annual depreciation Agent and brokerage commissions and other amounted to EUR 3,034 thousand. obligations in connection with contract extensions or players acquired on free transfers are recognised Land is carried at amortised cost and impaired if as intangible assets. If these obligations are subject necessary. to certain conditions precedent, they are recognised on the date the conditions are met. The intangible Buildings and the remaining items of property, plant assets are amortised on a straight-line basis over and equipment are measured at cost less the remaining term of the individual contracts. depreciation. Repair and maintenance costs are recognised in the statement of comprehensive Computer software for commercial and technical income as expenses in the current period. applications is amortised on a straight-line basis. Depreciation is calculated in order to allocate the The useful lives and the methods of amortisation cost of items of property, plant and equipment, less are reviewed at the end of each financial year. their estimated residual carrying amounts, on a straight-line basis over their estimated useful lives. Property, plant and equipment Depreciation is generally recognised in profit or loss. Property, plant and equipment is carried at cost less Unless it is sufficiently clear that ownership will accumulated depreciation and impairment losses. transfer to the Group at the end of the lease, leased Subsequent expenses are recognised only if it is assets are depreciated over the term of the lease probable that the future economic benefits or their useful lives, whichever is shorter. Land is associated with the expenses will flow to the Group. not depreciated. The SIGNAL IDUNA PARK stadium buildings were Straight-line depreciation is based on the following measured at their fair value amounting to EUR useful lives: Useful life in years Stadium 40 Other buildings 20 to 50 Other equipment, operating and office equipment 7 to 15 The useful life and the method of amortisation are reviewed at the end of each financial year at a minimum. 185