Kraft said it concluded the fair values of certain goodwill and intangible assets were below the carrying amounts
The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts
and the tax bases of assets and liabilities.
The receivable balance of USD 124m at 31 December 2017 is included in the gross assets and net assets carrying amounts
in note 1 above.
Finally, the new standard has incentivized companies with zero or negative carrying amounts
of net assets to proceed immediately to Step 1 of goodwill impairment test to avoid reporting any goodwill impairment.
Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts
of existing assets and liabilities and their respective tax basis.
An official source at DICI said that the department had received information that persons are smuggling firearms with the intent of trafficking in the Governorate of Dhofar, and after search and investigation in coordination with the Public Prosecutor, they were arrested carrying amounts
of money after selling the firearms.
"The uncertainties may affect the ultimate recovery of the carrying value of the investment in SSI UK (around pounds 243m) in the financial statements of the company, the carrying amounts
of the SSI Teesside operating assets included in the consolidated financial statements and the liquidity and cash flows of the group.
Further, ASU 2011-08 requires these entities to consider whether there are significant differences between the carrying amounts
and estimated fair values of the reporting unit's assets and liabilities, and the existence of significant unrecognized intangible assets.
In the FERF research study authored by Duff & Phelps, FEI members were asked whether their Step 1 goodwill impairment test was performed by comparing the fair value of the equity or enterprise value to their carrying amounts
. Fifty-eight percent of the respondents indicated that enterprise value was used.
If the Smolenskaya department store has to be closed permanently as a consequence of the lessors' actions, the costs due to the closure and undepreciated carrying amounts
will result in a non-recurring charge to the Department Store Division's earnings of roughly EUR14m.
In accordance with SFAS 144, the $200 loss would be allocated to the individual long-lived assets of the bottling operations on a pro rata basis using the relative carrying amounts
of those assets, without reducing them below their individual fair value, whenever it is determinable without undue cost and effort.