The transaction was financed with proceeds from a new long-term loan for US$250 million (see  note 13 ) and an increase in the  Company’s existing asset-based loan facility (see  note 12 ). Proceeds from the new long-term loan were used to repay existing long- term loan indebtedness of approximately US$47 million, with the remainder being used to fund the acquisition and transaction costs  of $26.0 million. $10.9 million of these transaction costs were expensed during the year as business acquisition and other expenses on  the statement of income and $15.1 million were capitalized as deferred financing costs that have reduced the value of debt on the  balance sheet to be amortized to interest expenses in the future.  The net assets recognized in the December 31, 2011 financial statements are based on a provisional assessment of fair value as the  Company has sought an independent valuation for the equipment, real estate, intangible assets and residual goodwill acquired for  which the accounting is incomplete. The results of the valuation have not been received as at the date these financial statements  were approved for issue by management. As a result, the financial information disclosed is based on management’s best estimate and  is disclosed on a provisional basis. Pending the finalization of the valuation reports noted above and their impact on accounting for taxes, which are incomplete at this  time, the Company is only able to provide a provisional fair value for customer relationships and brands acquired as part of the  acquisition based on preliminary information we have gathered during the due diligence phase of completing the acquisition and is  subject to revisions in future periods resulting from the finalization of the purchase price accounting. Goodwill and intangible assets  are allocated entirely to the US cash-generating unit. The goodwill and intangibles recognized are not expected to be deductible for  income tax purposes. From the date of acquisition, the Acquisition contributed $9.0 million of revenue and $0.7 million of earnings before interest and  taxes, excluding one-time business acquisition costs. Goodwill is tested for impairment annually (as at the first day of the Company’s fourth quarter) and when circumstances indicate the  carrying value may be impaired. The Company’s impairment test for goodwill and intangible assets with indefinite useful lives was  based on fair value less costs to sell as of the IFRS transition date and as of the fiscal year end 2011. The method used to determine  the Company’s fair value less costs to sell uses a discounted cash flow model. The key assumptions used to determine the recoverable  amount for the different cash-generating units for the most recently completed impairment calculations for fiscal 2011, fiscal 2010  and the IFRS transition date as at January 3, 2010 are discussed below. The Company has not identified any indicators of impairment  at any other date and, as such, has not completed an additional impairment calculation.  The following table outlines the carrying amount and classification of the Company’s intangible assets for the periods ending  December 31, 2011, January 1, 2011 and January 3, 2010:  72 HIGH lIneR FooDS InCoRpoRAteD Total Customer  Indefinite  Total   goodwill and Brands relationships  lived  intangible  intangible (Amounts in $000s as restated (note 26 (c)(i)) 2–8 Yrs  10–20 Yrs  brands   assets  Goodwill  assets Cost At January 3, 2010 $  729 $  11,498 $  10,322 $  22,549 $  35,983 $  58,532  Additions from acquisitions ( note 4 ) – 11,312 2,188 13,500 5,079 18,579  Translation adjustment of U.S.-based assets (7)  (671)  (488)  (1,166)  (1,243)  (2,409) At January 1, 2011 $  722 $  22,139 $  12,022 $  34,883 $  39,819 $  74,702  Additions from acquisitions ( note 4 ) 2,499 33,969 37,721 74,189 87,666 161,855  Translation adjustment of U.S.-based assets (35)  (37)  (326)  (398)  (698)  (1,096) At December 31, 2011 $  3,186 $ 56,071 $ 49,417 $ 108,674 $ 126,787 $ 235,461  Accumulated amortization  At January 3, 2010 $  281 $  2,303 $  – $  2,584 $  – $  2,584  Amortization 72 1,132 – 1,204 – 1,204  Translation adjustment of U.S.-based assets (7)  (137)  – (144)  – (144) At January 1, 2011 $  346 $  3,298 $  – $  3,644 $  – $  3,644   Amortization 79 1,744 – 1,823 – 1,823  Translation adjustment of U.S.-based assets 3 95 – 98 – 98  At December 31, 2011 $  428 $  5,137 $  – $  5,565 $  – $  5,565  Carrying value January 3, 2010 $  448 $  9,195 $  10,322 $  19,965 $  35,983 $  55,948  Carrying value January 1, 2011 $  376 $  18,841 $  12,022  $  31,239 $  39,819 $  71,058  Carrying value December 31, 2011 $  2,758 $ 50,934 $ 49,417 $ 103,109 $ 126,787 $ 229,896  5. gOODWIllAND INTANgIblE ASSETS