In 2009, the Group recognised impairments amounting to $73.0 million, comprising $18.9 million on goodwill and intangible assets arising on acquisitions, $38.6 million on assets that have become impaired as a consequence of the Group's restructuring initiatives and $15.5 million on receivables held in relation to the disposal of businesses in previous years.
In 2008, impairments amounted to $342.4 million, of which $228.6 million related to goodwill and $113.8 million to property, plant and equipment, which largely resulted from the significant deterioration during 2008 of the North American automotive OE and US residential construction markets.
| Year ended 2 January 2010 |
Year ended 3 January 2009 |
Year ended 29 December 2007 |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| Goodwill $ million |
Other intangible assets $ million |
Property, plant and equipment $ million |
Long-term receivables $ million |
Total $ million |
Goodwill $ million |
Property, plant and equipment $ million |
Total $ million |
Goodwill $ million |
|
| Ongoing segments | |||||||||
| Industrial & Automotive: | |||||||||
| – Power Transmission | – | 9.3 | 13.9 | – | 23.2 | 194.6 | 90.0 | 284.6 | – |
| – Fluid Power | – | 3.0 | 9.5 | – | 12.5 | – | 11.7 | 11.7 | – |
| – Sensors & Valves | – | – | – | – | – | – | 1.1 | 1.1 | 0.8 |
| – Other Industrial & Automotive | – | – | 0.7 | – | 0.7 | – | – | – | – |
| – | 12.3 | 24.1 | – | 36.4 | 194.6 | 102.8 | 297.4 | 0.8 | |
| Building Products: | |||||||||
| – Air Distribution | 8.7 | 9.7 | 0.2 | – | 18.6 | 34.0 | – | 34.0 | – |
| – Bathware | – | – | 2.5 | – | 2.5 | – | – | – | – |
| 8.7 | 9.7 | 2.7 | – | 21.1 | 34.0 | – | 34.0 | – | |
| Corporate | – | – | – | 15.5 | 15.5 | – | – | – | – |
| Total ongoing | 8.7 | 22.0 | 26.8 | 15.5 | 73.0 | 228.6 | 102.8 | 331.4 | 0.8 |
| Exited segments | |||||||||
| Building Products: | |||||||||
| – Doors & Windows | – | – | – | – | – | – | 11.0 | 11.0 | – |
| Total continuing operations | 8.7 | 22.0 | 26.8 | 15.5 | 73.0 | 228.6 | 113.8 | 342.4 | 0.8 |