NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  (CONTINUED) For the year ended 30 June 2014 9 GOODWILL AND OTHER INTANGIBLE ASSETS  (continued) FOR THE YEAR ENDED 30 JUNE 2013 Film Distribution  Rights  $’000 Goodwill  $’000 Brand  Names¹  $’000 Software  & Other  $’000 Total  $’000 At 1July 2012 Cost 34,213 237,471 33,789 67,890 373,363 Accumulated amortisation and impairment (33,806) (6,117) (600) (37,101) (77,624) Net carrying amount 407 231,354 33,189 30,789 295,739 Year ended 30June 2013 At 1 July 2012, net of accumulated amortisation  and impairment 407 231,354 33,189 30,789 295,739 Additions/Transfers – – – 11,402 11,402 Net foreign currency movements arising from  investments in foreign operations – 456 109 661 1,226 Acquisitions resulting from business combinations – 11,905 – 1,866 13,771 Disposals – 312 – (5) 307 Amortisation – refer Note 2(d) (205) – – (6,686) (6,891) Net carrying amount 202 244,027 33,298 38,027 315,554 At 30 June 2013 Cost 34,213 250,144 33,898 81,814 400,069 Accumulated amortisation and impairment (34,011) (6,117) (600) (43,787) (84,515) Net carrying amount 202 244,027 33,298 38,027 315,554 Notes: $^{1}$  In 2014, all of the brand names (2013: the majority of the brand names) relate to the Village Roadshow Theme Parks group. Goodwill and indefinite life intangible assets are tested at least annually for impairment based upon the recoverable amount of the appropriate cash  generating units (“CGU’s”) to which the goodwill and indefinite life intangibles have been allocated. Details of the Group’s main goodwill and indefinite life  intangible assets are provided below. The recoverable amount of the material balances of the Group’s goodwill has been determined based on fair value less costs of disposal (“FVLCD”)  calculations. The key assumptions on which the Group has based cash flow projections when determining FVLCD were that projected future performance  was based on past performance and expectations for the future, and that no significant events were identified which would cause the Group to conclude  that past performance was not an appropriate indicator of future performance. The pre-tax discount rate applied to the cash flow projections was in the  range of 11.4% to 15.4% (2013: 11.5% to 13.3%). Cash flows used were mainly from the Group’s 5 year plans. Other than as noted otherwise, cash flows  beyond five years were extrapolated using a terminal growth rate of 3% (2013: 3%). The growth rate does not exceed the long-term average growth rate for  the businesses in which the CGU’s operate. Goodwill allocated to cash generating units and for impairment testing included material groupings and 2014  balances as follows: (a) Impairment testing of goodwill and brand names Goodwill assessed on the basis of fair value less costs of disposal: Impairment losses recognised: Brand Names: – Village Roadshow Theme Parks group – $137.1 million (2013: $137.1 million) (re: Australian Theme Park interests) – Roadshow Distributors Pty. Ltd. group – $57.1 million (2013: $57.1 million) (re: Film Distribution interests) – Village Cinemas Australia Pty. Ltd. – $29.4 million (2013: $29.4 million) (re: Australian Theatres Joint Venture cinema circuit) – Village Roadshow Theme Parks USA Inc. – $Nil (2013: $3.7 million) (re: Wet’n’Wild Hawaii) – Village Roadshow Digital Pty. Ltd. group – $12.8 million (2013: $10.7 million) (re: Digital interests including Edge Loyalty Systems) Impairment losses for goodwill and other intangibles of $3.0 million were recognised for continuing operations in the year ended 30 June 2014, of which  $2.5 million related to the Theme Parks segment, and $0.5 million related to the Cinema Exhibition segment. The pre-tax discount ranges used were 11.4%  to 12.9%, and the recoverable amounts were based on fair value less costs of disposal. For the relevant Theme Parks assessment, cash flows beyond five  years were extrapolated using a terminal growth rate of 2.5%, and the latest updated forecasts were used in the impairment review, which were lower than  the forecasts included in the latest five year plan due to the relevant underlying financial performance being lower than expected. Under the fair value  hierarchy, level 3 inputs were used, and the impairment losses have been disclosed in Note 2(d) for 2014. Brand names owned by the Village Roadshow Theme Parks group are classified as indefinite life intangible assets and are therefore subject to annual  impairment testing. For the purposes of impairment testing the relevant brand names form part of the Australian Theme Parks CGU (2014: $31.1 million,  2013: $31.1 million). Refer above for further details relating to cash flows, growth and discount rates. With regard to the assessment of the recoverable amount of intangible assets, the Company believes that no reasonably possible change in any of the  above key assumptions would cause the carrying values to exceed recoverable amounts. Sensitivity to changes in assumptions: 50 VILLAGE ROADSHOW LIMITED CLOSE FILE X