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Financial statements

CONSOLIDATED FINANCIAL STATEMENTS

(in million of euros) Dec. 2011

NOTE 19 INTANGIBLE ASSETS

-75 157 244 476 (123) (42) (47) (212) 264 Dec. 2012

Gross value

Motel 6 brand (1) 156 Other brands and rights (2) 59 Licenses, software 147 Other intangible assets (3) 226

TOTAL INTANGIBLE ASSETS AT COST 588

Accumulated amortization and impairment losses

Licenses, software (121) Other brands and rights (2) (23) Other intangible assets (3) (71)

TOTAL ACCUMULATED AMORTIZATION AND IMPAIRMENT LOSSES (215)

INTANGIBLE ASSETS, NET 373

ii. €8 million for Sofitel contracts in Australia and

iii. €6 million for initial fees and franchise contracts in the United Kingdom. w€18 million corresponding to entrance fees for hotels included in Grupo Posadas’ South American hotel network that was acquired during the year (see note 2.B.6).