Finish attempt ... Random (E4.10-Identifiable Intangibles and Goodwill, U.S. GAAP and subcategories) Question 1 Not complete Mark 0.25 out of 1.00 Flag question Identifiable Intangibles and Goodwill, U.S. GAAP International Foods, a U.S. company, acquired two companies in 2013. As a result, its consolidated financial statements include the following acquire Intangible Asset Date of Acquisition Fair Value at Date of Acquisition Useful Life Customer relationships January 1, 2013 $3,200,000 10 years Favorable leaseholds June 30, 2013 4,800,000 12 years Brand names June 30, 2013 14,400,000 Indefinite Goodwill January 1, 2013 400,000,000 Indefinite Goodwill was assigned to the following reporting units: Asia $80,000,000 South America 120,000,000 Europe 200,000,000 Total $400,000,000 It is now December 31, 2014, the end of International Foods' accounting year. No impairment losses were reported on any intangibles in 2013. Assume t Intangible Asset Sum of Future Expected Undiscounted Cash Flows Sum of Future Expected Discounted Cash Flows Customer relationships $960,000 $720,000 Favorable leaseholds 4,800,000 3,520,000 Brand names 11,200,000 5,600,000 Reporting Unit Unit Carrying Value Unit Fair Value Asia $240,000,000 $320,000,000 South America 160,000,000 280,000,000 Europe 480,000,000 400,000,000 Compute 2014 amortization expense and impairment losses on the above intangibles, following U.S. GAAP. Enter answers in millions, using decimal places when applicable. (in millions) Amortization expense - identifiable intangibles $ 0 x Impairment losses - identifiable intangibles O x Goodwill impairment loss 80 Total 0 x Check