When A Ltd acquired 90% of B Ltd in 20x6, A Ltd has Freehold land carried in its book as property, plant and equipment (PPE) at cost of $100 million but has a fair value of $500 million, and B Ltd has Freehold land carried in its book as PPE at cost of $100 million but has fair value of $300 million. At that date, A Ltd and B Ltd also each disclosed a contingent liability in which there was a 40% probability of having to pay $10 million damages to a third party.

As at 31 December 20x8, A Ltds freehold land has a fair value of $800 million, and B Ltds freehold land has fair value of $400 million. The groups policy is to carry PPE at cost. As at this date, there is no change to the two contingent liabilities.

In A Ltds 20x8 consolidated statement of financial position:

Freehold land = $......................................................................................million

Provision for litigation loss = $............................................................... million