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Intangible assets - product development
 12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Intangible assets – product development
20. Intangible assets – product development
 
All figures in £ millions   
 
    2023
         2022  
Cost
     
At 1 January   
 
2,918
 
     2,698  
Exchange differences   
 
(121
) 
     235  
Additions   
 
300
 
     357  
Disposals and retirements   
 
(550
) 
     (191 ) 
Disposal of businesses (note 31)   
 
(29
) 
     (186 ) 
Transfers   
 
(1
) 
     5  
At 31 December
   
 
2,517
 
     2,918  
Amortisation
     
At 1 January   
 
(1,943
) 
     (1,804 ) 
Exchange differences   
 
92
 
     (174 ) 
Charge for the year   
 
(280
) 
     (288 ) 
Impairment   
 
(4
) 
     (15 ) 
Disposals and retirements   
 
550
 
     191  
Disposal of businesses (note 31)   
 
14
 
     147  
Transfers   
 
1
 
     –  
At 31 December
   
 
(1,570
) 
     (1,943 ) 
Carrying amounts at 31 December
   
 
947
 
     975  
Product development assets are amortised over their estimated useful economic lives. Product development assets relating to content are amortised over seven years or less, being an estimate of the expected operating lifecycle of the title, with a higher proportion of the amortisation taken in the earlier years. Product development assets relating to product platforms are amortised over ten years or less. Amortisation is included in the income statement in cost of goods sold.
Product development assets are assessed for impairment triggers on an annual basis or when triggering events occur. In 2023, of the £4m (2022: £15m) impairment charges, £nil (2022: £13m; 2021: £14m) have been recognised as a result of asset write-offs related to the major restructuring programme. The full annual impairment test showed that there is adequate headroom across all product development assets and accordingly no further impairment charges were recognised in 2023 (2022: £nil; 2021: £nil).