11 Intangible assets

(CHF million)	Investments in airport operator projects	Intangible asset from right of formal expropriation	Other intangible assets	Total intangible assets
Cost
Balance as at 1 January 2020	353.8	134.0	94.1	581.9
Additions	30.2	0.0	0.0	30.2
Disposals	0.0	0.0	–22.3	–22.3
Transfer	0.0	0.0	9.6	9.6
Reclassification	4.3	0.0	–4.3	0.0
Foreign exchange differences	–88.8	0.0	0.0	–88.8
Balance as at 31 December 2020	299.6	134.0	77.1	510.6

Balance as at 1 January 2021	299.6	134.0	77.1	510.6
Additions	16.2	0.0	0.1	16.3
Disposals	–0.9	0.0	–3.8	–4.7
Transfer	0.0	0.0	9.6	9.6
Reclassification	–4.6	0.0	0.0	–4.6
Foreign exchange differences	–22.1	0.0	0.0	–22.1
Balance as at 31 December 2021	288.2	134.0	83.0	505.1


Depreciation, amortisation
Balance as at 1 January 2020	–10.5	–63.2	–75.6	–149.2
Additions	–7.7	–2.3	–7.6	–17.6
Disposals	0.0	0.0	21.9	21.9
Reclassification	–1.6	0.0	1.6	0.0
Foreign exchange differences	2.4	0.0	0.0	2.4
Balance as at 31 December 2020	–17.4	–65.4	–59.7	–142.6

Balance as at 1 January 2021	–17.4	–65.4	–59.7	–142.6
Additions	–7.2	–2.3	–9.2	–18.7
Disposals	0.2	0.0	3.8	4.0
Reclassification	0.0	0.0	0.0	0.0
Foreign exchange differences	4.9	0.0	0.0	4.9
Balance as at 31 December 2021	–19.5	–67.7	–65.1	–152.4


Net carrying amount as at 31 December 2020	282.1	68.6	17.4	368.1
Net carrying amount as at 31 December 2021	268.6	66.3	17.9	352.8

INVESTMENTS IN AIRPORT OPERATOR PROJECTS

The investments in airport operator projects in the amount of CHF 268.6 million (2020: CHF 282.1 million) consist of concession rights which, due to the application of IFRIC 12, comprise minimum concession payments recognised as assets and investments made. They relate mainly to the expansion and operation of the Chilean airports in Antofagasta and Iquique (CHF 56.4 million; 2020: CHF 56.2 million), the expansion and operation of the Brazilian airport in Florianópolis (CHF 122.0 million; 2020: CHF 128.9 million) and the expansion and operation of the Brazilian airports in Vitória and Macaé (CHF 90.2 million; 2020: CHF 92.4 million).

The obligations of CHF 24.7 million (2020: CHF 23.2 million) relating to the relevant concessions have been recognised as current and non-current liabilities (see note 18, Financial liabilities).

INTANGIBLE ASSET FROM RIGHT OF FORMAL EXPROPRIATION

With the award of the operating licence for Zurich Airport, Flughafen Zürich AG was also granted a right of formal expropriation in respect of property owners exposed to aircraft noise. This right of formal expropriation was granted on condition that the airport operator bears the costs associated with compensation payments and is recognised as an intangible asset at the date when the probable total cost can be estimated based on final-instance court rulings, so that the cost can be reliably estimated in accordance with IAS 38.21 (see Reporting of noise-related costs in the financial statements). This is amortised using the straight-line method over the remaining term of the operating licence (until May 2051).

As at 31 December 2021, the Zurich Airport Group has recognised an intangible asset from the right of formal expropriation in the amount of CHF 66.3 million (2020: CHF 68.6 million).

IMPAIRMENT

Due to the coronavirus pandemic and the related indicators that investments in airport operator projects may be impaired, Flughafen Zürich AG performed an impairment test (see Impairment of assets in accordance with IAS 36).