33.11. Goodwill

Goodwill recognised as an asset in the statement of financial position for business combination before 1 January 2010 comprises:

• goodwill as the excess of the cost of the business combination over the acquirer’s interest in the acquire’s identifiable net assets measured at fair value at the acquisition-date; and
• goodwill relating to any additional purchase of non-controlling interests with no purchase price allocation.

For business combination after 1 January 2010 goodwill recognised as an asset in the statement of financial position is the excess of (a) over (b) below:

1. the aggregate of:
   1. the consideration transferred, measured at acquisition-date fair value;
   2. the amount of any non-controlling interest in the acquire, measured either at its fair value or at its proportionate interest in the net identifiable assets;
   3. in a business combination achieved in stages, the acquisition-date fair value of the acquirer’s previously held equity interest in the acquire.
2. the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed measured at fair value, apart from limited exceptions provided in IFRS 3.

Goodwill represents a payment made in anticipation of future economic benefits from assets that are not capable of being individually identified and separately recognised.