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Question - Alomar Co.. a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate for possible goodwill impairment. Sellers has recognized net assets of $985, including goodwill of $605. Seller's fair value is assessed at $920 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $115 and $107, respectively). The following table summarizes current financial information for the Sellers reporting unit:
Carrying Amounts
Fair Values
Tangible assets, net
$158
$194
Recognized intangible assets, net
222
299
Goodwill
605
?
Unrecognized intangible assets
0
Total
$985
$920
Required -
1. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit.
2. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar's reporting unit Sellers?
a. Goodwill impairment loss
b. Tangible assets, net
c. Goodwill
d. Patent
e. Customer list
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