Send us Feedback

Imperial Chemical Industries (ICI)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

ICI » Topics » (iv) Goodwill balance under US GAAP

This excerpt taken from the ICI 6-K filed Mar 21, 2007.

(iv) Goodwill balance under US GAAP

              Regional      
      National       and      
  Paints   Starch   Quest   Industrial   Total  
  £m   £m   £m   £m   £m  
At beginning of 2005 486   1,778   547   16   2,827  
Additions 5   8   –   –   13  
Disposals –   (2 ) –   –   (2 )
Exchange adjustments 18   92   22   2   134  
At end of 2005 509   1,876   569   18   2,972  
Additions 6   1   3   –   10  
Disposals and other movements (11 ) –   –   –   (11 )
Exchange adjustments (25 ) (181 ) (26 ) (2 ) (234 )
At end of 2006 479   1,696   546   16   2,737  

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.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki