Highveldt, a public listed company, acquired 75% of Samson's ordinary shares on 1 April 20X4. Highveldt paid an immediate $3·50 per share in cash and agreed to pay a further amount of $108 million on 1 April 20X5. Highveldt's cost of capital is 8% per annum. Highveldt has only recorded the cash consideration of $3·50 per share. 

The summarized statements of financial position of the two companies at 31 March 20X5 are shown below:

The following information is relevant:

1. Highveldt has a policy of revaluing land and buildings to fair value. At the date of acquisition Samson's land and buildings had a fair value $20 million higher than their carrying amount and at 31 March 20X5 this had increased by a further $4 million (ignore any additional depreciation).
2. Included in Highveldt's investments is a loan of $60 million made to Samson at the date of acquisition. Interest is payable annually in arrears. Samson paid the interest due for the year on 31 March 20X5, but Highveldt did not receive this until after the year end. Highveldt has not accounted for the accrued interest from Samson.
3. Samson had established a line of products under the brand name of Titanware. Acting on behalf of Highveldt, a firm of specialists, had valued the brand name at a value of $40 million with an estimated life of 10 years as at 1 April 20X4. The brand is not included in Samson's statement of financial position.
4. Samson's development project was completed on 30 September 20X4 at a cost of $50 million. $10 million of this had been amortized by 31 March 20X5. Development costs capitalized by Samson at the date of acquisition were $18 million. Highveldt's directors are of the opinion that Samson's development costs do not meet the criteria in IAS 38 Intangible assets for recognition as an asset.
5. Samson sold goods to Highveldt during the year at a profit of $6 million, one-third of these goods were still in the inventory of Highveldt at 31 March 20X5.
6. An impairment test at 31 March 20X5 on the consolidated goodwill concluded that it should be written down by $20 million. No other assets were impaired.

It is the group policy to measure non-controlling interest fair value. The fair value of the non-controlling interest in Samson at the acquisition date was $83 million.