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 Customer relationships Date of Acquisition Fair Value at Date of Acquisition Useful Life January 1, 2013 Favorable leaseholds Brand names Goodwill June 30, 2013 June 30, 2013. January 1, 2013 Goodwill was assigned to the following reporting units: Asia $120,000,000 South America 180,000,000 Europe Tatal 300,000,000 $600,000,000 $4,800,000 6 years 8,000,000 8years 21,600,000 Indefinite 600,000,000 Indefinite 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 Customer relationships Favorable leaseholds Sum of Future Expected Undiscounted Cash Flows Sum of Future Expected Discounted Cash Flows $1,440,000 $1,080,000 7,200,000 5,280,000 Brand names 16,800,000 8,400,000 Reporting Unit Unit Book Value Unit Fair Value Asia South America Europe $360,000,000 $480,000,000 240,000,000 720,000,000 420,000,000 600,000,000 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 $ * Impairment losses identifiable intangibles * Goodwill impairment loss x Total