content_image/161325.jpg content_image/161327.jpg content_image/161329.jpg content_image/161331.jpg
The following table presents the changes in the accumulated amortization and accumulated impairment losses of the company’s intangible assets: 

<img src='content_image/161325.jpg'>

Intangible assets, including trademarks, concession agreements and conservancy rights, are recorded at amortized cost and are tested for impairment annually using a discounted cash flow valuation. This valuation utilizes the following significant unobservable inputs assumptions: 

<img src='content_image/161327.jpg'>

## 14. GOODWILL 

<img src='content_image/161329.jpg'>

Goodwill is allocated to the following cash-generating units: 

<img src='content_image/161331.jpg'>

