In 2009 Nike Corporation reported a large goodwill impairment loss. Referring to Nike's 2009 financial statements and

Question:

In 2009 Nike reported a large impairment loss. Referring to Nike's 2009 and applicable financial reporting standards, answer the following questions:
1. How much impairment charge did Nike report in 2009?
2. Why did Nike write down its in 2009? What are some other indicators for impairment in general?
3. How did Nike reflect this impairment in How often does Nike test its for impairment and what are the testing steps?
5. Certain other indefinite-lived intangibles and other long-lived assets (including with a finite life) are also subject to impairment assessment. Did Nike incur any of these impairment charges in 2009? Explain briefly when and how Nike tests these assets for impairment.
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