| December 31 | |||||||||
| 2017 | 2016 | ||||||||
| NIS in millions | |||||||||
| Goodwill (1) (2) | 637 | 735 | |||||||
| Value attributed to assets managed and leased (3) | 61 | 72 | |||||||
| Other | - | 8 | |||||||
| 698 | 815 | ||||||||
| (1) | The carrying amount of goodwill by cash-generating units: |
| CTY | FCR | Total | |||||||||||
| NIS in millions | |||||||||||||
| December 31, 2017 | 637 | - | 637 | ||||||||||
| December 31, 2016 | 702 | 33 | 735 | ||||||||||
Movement in goodwill for the year ended December 31, 2017:
| NIS in millions | |||||
| Balance as of January 1 | 735 | ||||
| Realization of goodwill in respect of deconsolidation of FCR | (33 | ) | |||
| Realization of goodwill in respect of sale of assets | (31 | ) | |||
| Impairment of goodwill (2) | (13 | ) | |||
| Foreign exchange differences | (21 | ) | |||
| Balance as of December 31 | 637 | ||||
| (2) | Goodwill has been predominantly recognized due to the acquisition of assets by CTY in 2015. The goodwill was allocated to the cash generating units and for each, the recoverable amount was determined as of the reporting date. |
In 2017, CTY recognized goodwill impairment in an amount of NIS 13 million, due to a reduction in a similar amount in the balance of deferred tax provision which is due to the decrease of tax rate in Norway, which explains part of the goodwill as referred to above.
| (3) | Attributed to assets recognized as part of the business combination with Sektor in their fair value in respect of investment properties owned by third party that are managed by the Group as well as properties leased under finance lease by the Group. |