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 acquired intangibles:

Intangible Asset Date of Acquisition Fair Value at Date of Acquisition Useful Life

Customer relationships January $1,2013$ $$2,000,0004$ years

Favorable leaseholds June $30,20134,000,0005$ years

Brand names June $30,20139,000,000$ Indefinite

Goodwill January $1,2013250,000,000$ Indefinite

Goodwill was assigned to the following reporting units:

Asia $$50,000,000$

South America $75,000,000$

Europe $125,000,000$

Total $$250,000,000$

It is now December $31,2014,$ the end of International Foods' accounting year. No impairment losses were reported on any intangibles in $2013.$ Assume that International Foods bypasses step $0$ of the goodwill impairment test. The following information is available on December $31,2014$:

Intangible Asset Sum of Future Expected Undiscounted Cash Flows Sum of Future Expected Discounted Cash Flows

Customer relationships $$600,000$ $$450,000$

Favorable leaseholds $3,000,0002,200,000$

Brand names $7,000,0003,500,000$

Reporting Unit Unit Book Value Unit Fair Value

Asia $$150,000,000$ $$200,000,000$

South America $100,000,000175,000,000$

Europe $300,000,000250,000,000$

Unit book values are already adjusted for appropriate $2014$ amortization and impairment of identifiable intangibles.

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 Answer $1$

Impairment losses $-$ identifiable intangibles Answer $2$

$0$

Goodwill impairment loss Answer $3$

$0$

Total Answer $4$

$0$