No disclosure of the current year impact of a change in policy UK tobacco company Imperial Tobacco changes to include the foreign exchange element of derivative fair value movements and exchange differences on borrowings not designated as hedges in net finance costsrather than operating profitbut discloses only the impact on its prior year comparatives.
Goodwill and intangibles outweigh other assets UK tobacco company Imperial Tobacco recognises £7 billion goodwill and £6 billion other intangibles on an acquisition, after which intangible assets represent 67.7% of its total assets.
£507 million fair value adjustment turn net liabilities into net assets
UK tobacco company Imperial Tobacco adjusts acquired trademarks from £163 million to a fair value of £670 million resulting in acquisition of net assets.
Trademark considered to have an indefinite useful life
UK tobacco company Imperial Tobacco discloses that it acquired a trademark for consideration of £368 million and considers it to have an indefinite useful life.