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Identifiable Intangibles and Goodwill, IFRS International Foods, a U . S . company, acquired two companies in 2 0 1 3 . As a result,
Identifiable Intangibles and Goodwill, IFRS
International Foods, a US company, acquired two companies in As a result, its consolidated financial statements include the following acquired intangibles:
Intangible Asset Date of Acquisition Fair Value at Date of Acquisition Useful Life
Customer relationships January $ years
Favorable leaseholds June years
Brand names June Indefinite
Goodwill January Indefinite
International Foods reports using IFRS and allocating its goodwill to the following cash gathering units CGUs:
E Asia $
Indonesia
Brazil
Mediterranean
Scandanavia
Total $
The following information is available at December :
Intangible Asset Sum of Future Expected Undiscounted Cash Flows Sum of Future Expected Discounted Cash Flows
Customer relationships $ $
Favorable leaseholds
Brand names
CGU Unit Book Value Unit Fair Value
E Asia $ $
Indonesia
Brazil
Mediterranean
Scandinavia
Unit book values are already adjusted for appropriate amortization and impairment of identifiable intangibles.
Compute amortization expense and impairment losses on the above intangibles, following IFRS.
Enter answers in millions, using decimal places when applicable.
in millions
Amortization expense identifiable intangibles Answer
Impairment losses identifiable intangibles Answer
Goodwill impairment loss Answer
Total Answer
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