| (in millions of euros) | 2023 | 2022 |
|---|---|---|
| Amortization of other intangible assets (excluding intangibles arising from acquisitions) | Amortization of other intangible assets (excluding intangibles arising from acquisitions) 2023 (55) |
Amortization of other intangible assets (excluding intangibles arising from acquisitions) 2022 (68) |
| Depreciation of property, plant and equipment | Depreciation of property, plant and equipment 2023 (130) |
Depreciation of property, plant and equipment 2022 (141) |
| Depreciation of right‑of‑use assets | Depreciation of right‑of‑use assets 2023 (297) |
Depreciation of right‑of‑use assets 2022 (326) |
| Depreciation and amortization expense (excluding acquired intangibles) | Depreciation and amortization expense (excluding acquired intangibles) 2023 (482) |
Depreciation and amortization expense (excluding acquired intangibles) 2022 (535) |
| Amortization of intangibles from acquisitions | Amortization of intangibles from acquisitions 2023 (268) |
Amortization of intangibles from acquisitions 2022 (287) |
| Impairment losses on goodwill | Impairment losses on goodwill 2023 (6) |
Impairment losses on goodwill 2022 (28) |
| Impairment losses on real estate contracts | Impairment losses on real estate contracts 2023 (147) |
Impairment losses on real estate contracts 2022 (81) |
| Impairment losses | Impairment losses 2023 (153) |
Impairment losses 2022 (109) |
| Total depreciation, amortization and impairment losses | Total depreciation, amortization and impairment losses 2023 (903) |
Total depreciation, amortization and impairment losses 2022 (931) |
When indications of impairment were identified on intangible assets related to acquisitions, impairment tests were conducted. The valuations required for these tests were conducted by an independent expert. The after‑tax discount rates used and the long‑term growth rates were determined taking into account the specific characteristics of these assets. These tests did not lead to the recognition of impairment in 2023 and 2022.
Impairment tests were carried out on the following cash‑generating units: United States, Canada, United Kingdom, France, DACH (Germany, Austria and Switzerland), Asia‑Pacific, Africa and the Middle East, Central and Eastern Europe, Western Europe and Latin America, as well as on other goodwill.
The valuations required for the impairment tests on the most significant goodwill were conducted by an independent expert. Goodwill impairment tests were performed either:
The compound annual growth rates applied over the business plan period were corroborated with industry market studies on advertising spend by country or geographic region.
The method used in the calculation of discount rates and terminal growth rates is unchanged. The after‑tax discount rates used range between 10% (12.9% before tax) and 19% (26.6% before tax). The terminal growth rate used in the forecasts ranged from 1.5% to 2.8%.
The impairment tests led the Group to recognize, in 2023, an impairment loss of euro 6 million concerning the goodwill on the Latin America zone.
