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3. Notes

21. Goodwill

21. Goodwill

€ million

2020

2019

Net book value at 1 January

5 059

4 970

Acquisition

161

13

FX on acquisition

-8

0

Other movements

0

1

Effect of movements in exchange rates

- 248

75

Net book value at 31 December

4 964

5 059

The Group tests goodwill for impairment annually or more frequently if there are indications that goodwill might be impaired. For the purpose of the impairment testing, the Group operates as one segment, Biopharmaceuticals, and has one single cash-generating unit (CGU), which represents the lowest level at which the goodwill is monitored.

The recoverable amount of the CGU is determined based on the value-in-use calculations and the methodology applied for performing the impairment testing has not been modified compared to 2019.