Air Canada 2009 Annual Report Download - page 63

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2009 Management’s Discussion and Analysis
63
Intangible assets
The identifi able intangible assets of the Corporation were recorded at their estimated fair values at September 30, 2004
upon emergence from CCAA. Since that time, the intangible assets have been reduced by a tax allocation of $914 million.
Indefi nite-life intangible assets are subject to impairment tests under Canadian GAAP on an annual basis or when events
or circumstances indicate a potential impairment. If the carrying value of such assets exceeds the fair values, the assets are
written down to fair value.