A total goodwill amount of 19 million euros was recognized during Fiscal 2023, mainly due to the business combination accounting of Beacon Services Group Limited in the United Kingdom and of AMI2 in France for On-site Services activity.
The table below shows the values of the assets acquired and liabilities assumed as of August 31, 2023. The values are estimated provisionally as of August 31, 2023 for most of Fiscal 2023 acquisitions:
| (in million euros) | AUGUST 31, 2023 |
|---|---|
| Intangible assets | Intangible assets AUGUST 31, 2023 1 |
| Trade and other current operating assets | Trade and other current operating assets AUGUST 31, 2023 5 |
| Cash and cash equivalents | Cash and cash equivalents AUGUST 31, 2023 4 |
| Trade and other payables | Trade and other payables AUGUST 31, 2023 (5) |
| TOTAL IDENTIFIABLE NET ASSETS | TOTAL IDENTIFIABLE NET ASSETS AUGUST 31, 2023 5 |
| CONSIDERATION TRANSFERRED(1) | CONSIDERATION TRANSFERRED(1) AUGUST 31, 2023 24 |
| GOODWILL(2) | GOODWILL(2) AUGUST 31, 2023 19 |
(1) Including 1 million euros corresponding to liabilities recognized in connection with deferred considerations and written put options over non-controlling interests.
(2) Goodwill is recognized as the difference between the acquisition price and identifiable net assets at fair value. It principally represents the savoir-faire and expertise of employees and synergies expected from acquired companies.
Business combinations impacts the cash flow statement as follows:
| Price paid during the year | 25 |
|---|---|
| Cash acquired | Cash acquired 25 4 |
| Business combinations | Business combinations 25 21 |
Companies consolidated during Fiscal 2023 were integrated from the date of acquisition, and contributed for 6 million euros to consolidated revenue and for 0.3 million euros to the consolidated underlying operating profit of the period.
Goodwill variations during Fiscal 2023 and the comparative period are presented in note 6.1 “Goodwill”.
In accordance with IFRS 5 “Non-current assets held for sale and discontinued operations”, when the Group expects to recover the value of an asset or a group of assets through its sale rather than by its use, or when the asset or group of assets is held for distribution to owners of the Group, this asset or group of assets is presented on a separate line “Assets held for sale or for distribution” of the consolidated statement of financial position. Non-current assets classified as such are measured at the lower of their carrying value and their fair value net of disposal costs and therefore are no longer subject to depreciation. The liabilities relating to the asset or group of assets are also presented on a separate line of the consolidated statement of financial position (“Liabilities directly associated with assets held for sale or for distribution”).
In addition, when the group of assets held for sale or for distribution represents a separate major line of business or geographic area of operations, and thus meets the definition of a discontinued operation according to IFRS 5, its contribution to income and cash flows is presented on separate lines in the consolidated income statement (line “Net profit of the year from discontinued operation”) and the consolidated cash flow statement (separate lines within each cash flow category). The comparative consolidated income statement and consolidated cash flow statement are restated as if the activity had met the criteria for a discontinued operation as of the opening of the comparative period.
The Group continued its portfolio rationalization:
