DANONE - Registration document 2015

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4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 9. Intangible assets
DANONE REGISTRATION DOCUMENT 2015 117
Carrying amount and assumptions concerning the long-term growth rate and discount rate in respect of the CGUs
or groups of CGUs comprising material assets
As of December 31
Carrying amount of goodwill
and brands with indefinite
useful lives(h) Long-term growth rate (i) Discount rate after tax(i)
(in € millions) 2014 2015 2014 2015 2014 2015
Fresh Dairy Products
Centrale Danone 924 914 3% 3% 10% 10%
Danone-Unimilk group (a) 311 279 3% 3% 10% 11%
Europe (b) 587 576 0% 0% 8% to 10% 8% to 10%
Other CGUs (c) 517 627 0 to 3% 0 to 3% 8% to 15% 8% to 17%
Total Fresh Dairy Products 2,340 2,395
• of which, goodwill 1,683 1,774
• of which, brands with
indefinite useful lives (d) 658 621
Waters
Danone Eaux France 428 428 1% 1% 7.9% 7.9%
Other CGUs (e) 413 389 0 to 3% 0 to 3% 8% to 13% 8% to 17%
Total Waters 840 817
• Of which, goodwill 630 613
• Of which, brands with
indefinite useful lives (d) 210 204
Early Life Nutrition
Early Life Nutrition Asia 3,108 2,680 2.5% 2.5% 8.2% 7.8%
Early Life Nutrition Rest
of the World 5,114 5,037 2.5% 2.5% 8.2% 8.3%
Other CGUs 168 187 2.5% 2.5% 7.9% 7.9%
Total Early Life Nutrition 8,390 7,904
• Of which, goodwill 5,930 5,894
• Of which, brands with inde-
finite useful lives (f) 2,460 2,010
Medical Nutrition 4,246 4,280 2.5% 2.5% 7.6% 7.6%
• Of which, goodwill 3,340 3,372
• Of which, brands with
indefinite useful lives (g) 906 908
Total 15,816 15,396
• Of which, goodwill 11,582 11,653
• Of which, brands with
indefinite useful lives 4,234 3,743
(a) Consists mainly of Russia and Ukraine.
(b) Combines the Division's entire activity in Europe.
(c) More than 10 CGUs, the largest of which is the United States CGU, with none exceeding €300 million as of December 31, 2015 or December 31, 2014.
(d) Several brands, none of which is material individually.
(e) Consists mainly of the Waters Asia CGU and other CGUs, none of which exceeds €200 million as of December 31, 2015 or December 31, 2014.
(f)Consistsofseveralbrands,thelargestofwhichare Milupaand Dumex.Thecarryingamountpresentedhere includes impairmentrecognizedonthe Dumexbrand.
(g) Several brands, the most significant of which is Nutricia.
(h) The carrying amount includes the reclassification of €153 million to Assets held for sale for the Dumex activity in China.
(i) For CGUs whose recoverable value is determined on the basis of their value in use, except for the CGUs corresponding to the companies acquired in 2015.