ITC is one of India’s foremost multi-business enterprise with businesses encompassing Fast Moving Consumer Goods (FMCG), Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, and Information Technology – and having a market capitalization of over US $40 billion. ITC is rated among the World’s Most Reputable Companies by Forbes magazine. It is among India’s 10 Most Valuable (Company) Brands, according to a study published by the Economic Times. We present in Annexure 2.4 the company’s fixed assets details (on the OLC). You are required to answer the following questions based on the same.

(a) Give a summarized picture of ITC’s fixed assets and the visible changes therein (within 250 words).

(b) What are acquired intangible assets? And, why are they part of ITC’s balance sheet? On the other hand, why are ITC’s non-acquired intangible assets not included in its fixed assets? Give a few examples of the same.

(c) Give a non-technical summary of the notes to the ITC’s fixed assets (within 100 words).

(d) Based on the figures available, can we confidently state that the biggest asset of ITC is its “plant and equipment”?.