NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C3 Intangible assets (continued) Key estimates and judgement: Recognition and measurement of intangible assets Key assumptions used in estimating the recoverable amount, useful life of an intangible asset (reassessed at each reporting date) requires management’s judgement. Aggregate carrying amounts of goodwill allocated to each CGU within the business segments and the key assumptions used in determining the recoverable amount of each CGU are as follows: Group Pre-tax discount rate Terminal growth rate 2022 $’000 2021 $’000 2022 % 2021 % 2022 % 2021 % Commercial Aerospace Aerostructure & Systems 59,682 61,395 10.0 – 11.0 7.0 – 8.8 1.6 – 3.0 1.0 – 1.6 Aerospace MRO 16,910 16,995 11.5 9.1 4.0 1.5 Urban Solutions & Satcom Smart Utilities & Infrastructure 74,732 75,195 12.1 10.4 3.0 3.0 Mobility (Rail & Road) 2,305,641 – 8.9 – 4.0 – Satcom 431,882 434,355 11.8 8.9 3.0 3.0 Defence & Public Security Specialty Vehicles 102,602 108,269 14.7 – 17.6 10.7 – 15.5 2.3 2.3 Robotics & Autonomous Systems 35,169 35,370 12.0 – 13.5 10.6 – 11.4 2.3 – 2.5 2.5 Mission Software & Services 12,320 12,320 9.0 7.5 2.0 2.0 Training & Simulation Systems 15,295 15,382 18.8 13.5 3.0 3.0 Advanced Networks & Sensors 36,420 36,619 11.4 9.7 4.0 3.0 Defence Aerospace 701 776 NA NA NA NA 3,091,354 796,676 178 ST ENGINEERING ANNUAL REPORT 2022
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