Item17

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Item 17

Item 17 10 points

In 2019, Alliant Corporation acquired Centerpoint Inc. for $422 million, of which $62 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test:

Fair value of Centerpoint Inc.	$	330	million
Book value of Centerpoints net assets (excluding goodwill)		298	million
Book value of Centerpoints net assets (including goodwill)		360	million

Alliant prepares its financial statements according to IFRS, and Centerpoint is considered a cash-generating unit. Assume that Centerpoints fair value of $330 million approximates fair value less costs to sell and that the present value of Centerpoints estimated future cash flows is $335 million. Required: Determine the amount of goodwill impairment loss Alliant should recognize. (Negative amount should be indicated by a minus sign. Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).

Impairment loss

million