Exercise 11-31 (Algo) Impairment; goodwill [LO11-8]

[The following information applies to the questions displayed below.]

In 2022, Alliant Corporation acquired Centerpoint Incorporated for $352 million, of which $62 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test: Fair value of Centerpoint Incorporated $ 256 million Book value of Centerpoints net assets (excluding goodwill) 228 million Book value of Centerpoints net assets (including goodwill) 290 million

Exercise 11-31 (Algo) Part 1 Required:

1. Determine the amount of the impairment loss reported in the 2024 income statement.