Porter Corporation acquired Stewart Corporation on January 1, 2020, at a cost of $180 million.

 

1. Customer lists are estimated to have undiscounted future cash flows of $250,000 and discou ness suffered a downturn during 2020, the year-end impairment review yielded the following informaie Impairment reviews at the end of 2018 and 2019 did not identify any impairment losses. After the bus fated Financial Statements Sutiseguent to Acquisition LO3 P4.6 Global Mobile Broadbang Services Networks $250 $50 35 $125 190 100 85 55 30 ldentifiable assets. Liablites Fair value of unit estimated for a quantitative analysis of goodwill impairment (in millions): Global Mobile US. Cellular Services Broadband Networks $25 $90 92 $ 95 $50 33 Fair value of unit Book value of unit. 48 100 In your answers below, show all numbers in millions. Required Calculate the total goodwill for this acquisition, and its allocation to the four reporting units at t 1, 2020. b. Calculate any goodwill impairment for 2020, following U.S. GAAP. LO 2,3 P4.7 Intangible Assets and Goodwill: Amortization and Impairment In early 2018, Bowen C pany acquired a new business unit in a merger. Allocation of the acquisition cost resulted in fair vile assigned as follows: Intangible asset Fair value Estimated life Customer lists Developed technology Internet domain name Goodwill $ 500,000 800,000 1,300,000 6,200,000 5 years 10 years Indefinite The goodwill is assigned entirely to the acquired business unit. Indefinite future cash flows of $180,000. 2. Developed technology is estimated to have undiscount counted future cash flows of $420 000 3. The internet dor