content_image/282916.jpg content_image/282917.jpg content_image/282918.jpg
## Reconciliations 

Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: 

<img src='content_image/282916.jpg'>

## Impairment testing 

The following cash generating units have carrying amounts of goodwill: 

<img src='content_image/282917.jpg'>

Goodwill has an indefinite life. 

The recoverable amount of each cash generating unit above is determined based on value-in-use calculations. 

Value-in-use is calculated based on the present value of cash flow projections over a three-year period, together with a terminal value. The cash flows are discounted using the target weighted average cost of capital for the Consolidated Entity. 

The following assumptions were used in the value-in-use calculations: 

Pre-tax discount rate - 17.3% (2013: 17.3%) 

Growth rate of cash flows - 2.5% (2013: 2.5%) 

## NOTE 18. NON-CURRENT ASSETS - EXPLORATION & MINE DEVELOPMENT EXPENDITURE 

<img src='content_image/282918.jpg'>

