In 2019, Alliant Corporation acquired Centerpoint Inc. for $464 million, of which $74 million was allocated...
In 2019, Alliant Corporation acquired Centerpoint Inc. for $464 million, of which $74 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. | $ | 354 | million |
| Book value of Centerpoint’s net assets (excluding goodwill) | 316 | million | |
| Book value of Centerpoint’s net assets (including goodwill) | 390 | million | |
2. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $428 million.
Homework Answers
2.
Impairment loss = $0 (as fair value of $428 million exceeds book value of net assets (including goodwill) $390)
Hence impairment loss is $0
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