Exercise 11-31 (Algo) Impairment; goodwill (LO11-8] [The following information applies to the questions displayed below.] In 2019, Alliant Corporation acquired Centerpoint Inc. for $370 million, of which $60 million was allocated to goodwill. the end of 2021, management has provided the following information for a required goodwill impairment test: Fair value of Centerpoint Inc. Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) $282 million 250 million 310 million Exercise 11-31 (Algo) Part 2 - Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $342 million. (Enter your answ millions (i.e., 10,000,000 should be entered as 10)). Answer is complete but not entirely correct.

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A6 In 2022, Alliant Corporation acquired Centerpoint Incorporated for $339 million, of which $59 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test:   Fair value of Centerpoint Incorporated $ 247 milli   Book value of Centerpoint’s net assets (excluding goodwill) 221 milli   Book value of Centerpoint’s net assets (including goodwill) 280 milli   Exercise 11-31 (Algo) Part 1 Require   1. Determine the amount of the impairment loss reported in the 2024 income statement. Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10).d:ononon

Required information [The following information applies to the questions displayed below.] In 2022, Alliant Corporation acquired Centerpoint Incorporated for $352 million, of which $62 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test: Fair value of Centerpoint Incorporated Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) $ 256 million 228 million 290 million 2. Determine the amount of goodwill reported in the year-end 2024 balance sheet. 3. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $318 million. Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10). 2. Goodwill 3. Impairment loss million million