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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2021
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | 15. INTANGIBLE ASSETS Intangible assets of the Group for fiscal years ended on December 31, 2021 and 2020 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross carrying amount | ​ | Depreciation | ​ |
​ | ​ | At the | ​ | ​ | ​ | Additions | ​ | ​ | ​ | At the | ​ | At the | ​ | ​ | ​ | ​ | ​ | ​ | ​ | At the | ​ | Net carrying
​ | ​ | beginning | ​ | ​ | ​ | by business | ​ | ​ | ​ | End of the | ​ | beginning | ​ | ​ | ​ | By business | ​ | ​ | ​ | End of the | ​ | amount at
Item |  | of the year |  | Additions |  | combinations |  | Disposals |  | year |  | of the year |  | Disposals |  | combinations |  | Of the year |  | year |  | 12/31/2021
Measurement at cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Goodwill | ​ | 5,494,180 | ​ | — | ​ | — | ​ | — | ​ | 5,494,180 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 5,494,180
Brands |  | 301,881 |  | — | ​ | — | ​ | — | ​ | 301,881 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 301,881
Other intangible assets(*) |  | 8,511,674 | ​ | 3,228,118 | ​ | — | ​ | (17,528) | ​ | 11,722,264 |  | (4,070,061) | ​ | 5,849 | ​ | — | ​ | (2,032,008) | ​ | (6,096,220) | ​ | 5,626,044
TOTAL |  | 14,307,735 | ​ | 3,228,118 | ​ | — | ​ | (17,528) | ​ | 17,518,325 |  | (4,070,061) | ​ | 5,849 | ​ | — | ​ | (2,032,008) | ​ | (6,096,220) | ​ | 11,422,105
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross carrying amount | ​ | Depreciation | ​ |
​ | ​ | At the | ​ | ​ | ​ | Additions | ​ | ​ | ​ | At the | ​ | At the | ​ | ​ | ​ | ​ | ​ | ​ | ​ | At the | ​ | Net carrying
​ | ​ | beginning | ​ | ​ | ​ | by business | ​ | ​ | ​ | End of the | ​ | beginning | ​ | ​ | ​ | By business | ​ | ​ | ​ | End of the | ​ | amount at
Item |  | of the year |  | Additions |  | combinations |  | Disposals |  | year |  | of the year |  | Disposals |  | combinations |  | Of the year |  | year |  | 12/31/2020
Measurement at cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Goodwill | ​ | 5,483,173 | ​ | 11,007 | ​ | — | ​ | — | ​ | 5,494,180 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 5,494,180
Brands |  | 301,881 |  | — | ​ | — | ​ | — | ​ | 301,881 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 301,881
Other intangible assets(*) |  | 5,907,675 | ​ | 2,625,549 | ​ | — | ​ | (21,550) | ​ | 8,511,674 |  | (2,757,855) | ​ | (106) | ​ | — | ​ | (1,312,100) | ​ | (4,070,061) | ​ | 4,441,613
TOTAL |  | 11,692,729 |  | 2,636,556 |  | — |  | (21,550) |  | 14,307,735 |  | (2,757,855) |  | (106) |  | — |  | (1,312,100) |  | (4,070,061) |  | 10,237,674
(*)mainly include systems and programs. ​ 15.1 Goodwill impairment Goodwill is assigned to the Group’s cash generating units on the basis of the operating segments. ​
​ | ​ | ​ | ​ | ​
​ |  | 12/31/2021 |  | 12/31/2020
Supervielle Seguros S.A. | ​ | 14,620 |  | 14,620
IUDÚ Compañia Financiera S.A | ​ | 368,254 |  | 368,254
Banco Regional de Cuyo S.A. | ​ | 76,654 |  | 76,654
InvertirOnline S.A.U. / InvertirOnline.Com Argentina S.A.U.(renamed as “Portal Integral de Inversiones S.A.U.” with registration pending) | ​ | 2,786,446 |  | 2,786,446
Micro Lending S.A.U. | ​ | 2,193,965 |  | 2,193,965
Others | ​ | 54,241 |  | 54,241
TOTAL | ​ | 5,494,180 |  | 5,494,180
​ The recoverable amount of a cash generating unit is determined on the basis of its value in use. These method uses cash flow projections based on approved financial budgets covering a period of zero years. The key assumptions are related to marginal contribution margins. These were determined on the basis of historic performances, other external sources of information and the expectations of market development. The discount rates used were 14% and are the respective average cost of capital (“WACC”), which is considered a good indicator of the cost of capital. For each cash generating unit, where the assets are assigned, a specific WACC was determined considering the industry, the country and the size of the business. The main macroeconomic premises used are detailed below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Real | ​ | Forecast | ​ | Forecast | ​ | Forecast | ​ | Forecast | ​ | Forecast |
​ |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |
Inflation (end of period) |  | 46.7 | % | 45.9 | % | 39.9 | % | 56.7 | % | 47.5 | % | 47.5 | %
Inflation (average) |  | 47.3 | % | 44.4 | % | 41.6 | % | 51.1 | % | 49.5 | % | 47.5 | %
Cost of funding (average) |  | 39.2 | % | 41.9 | % | 40.8 | % | 49.0 | % | 45.2 | % | 45.2 | %
Loan’s interest rate (average) |  | 55.8 | % | 58.8 | % | 65.4 | % | 63.2 | % | 61.7 | % | 61.7 | %
​ Goodwill has been tested annually for impairment. No impairment adjustments have been determined over these assets as a result of the tests performed. The sensitivity analysis for the cash-generating unit to which the Goodwill was allocated was based on a 1% increase in the weighted average cost of capital. The Group concluded that no impairment loss would need to be recognized on the Goodwill in the segment under these conditions.

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