This excerpt taken from the ICI 6-K filed Mar 21, 2007.
(iv) Goodwill balance under US GAAP
Included above is goodwill with a net book value of £512m (2005 £556m; 2004 £516m) recognised under IFRS (£18m classified as held for sale under IFRS).
During the year, the Group changed its reporting segments. The National Starch business, previously reported as one segment, is now reported as four segments: Adhesives, Specialty Starches, Specialty Polymers and Electronic Materials. This change reflects a move to global business units during 2006.
In accordance with SFAS No. 142, goodwill was reassigned to reporting units using a relative fair value allocation approach. The National Starch goodwill of £1,696m at 31 December 2006 was reassigned to Adhesives £662m, Specialty Starches £348m, Specialty Polymers £333m and Electronic Materials £353m. In accordance with the accounting policy, goodwill impairment testing was performed at 31 December 2006 based on the new reporting unit structure.