4.4 BUSINESS ACqUISITION, INTEgRATIONS AND OThER ExPENSES 4.5 AMORTIzATION OF INTANgIBLE ASSETS 4.2 TRANSACTIONS wITh RELATED PARTIES  30 HIGH LINER FOODS INCORPORATED This consists of amortization of intangible assets, brands,  and customer relationships over their estimated useful lives.  The final purchase price accounting for Viking was completed  in 2011 and resulted in slightly higher amortization than  originally estimated. As the purchase price accounting for the  Icelandic USA Acquisition will not be finalized until after the  issue of the 2011 year-end financial statements, amortization  has been estimated for the 13 days of operations in 2011. As required by accounting pronouncements, we performed  goodwill and indefinite life intangible asset impairment tests  in both fiscal 2010 and 2011, which showed that goodwill is  not impaired.  In addition to transactions between the parent and  subsidiaries, High Liner Foods has entered into certain  transactions and agreements in the normal course of  business with certain other related parties, as disclosed in  the notes to the financial statements. Transactions with  these parties are measured at the exchange amount, which is  the amount of consideration established and agreed to by the  related parties.  The Company’s business is carried on through the parent  company, High Liner Foods Incorporated, and wholly owned  operating subsidiaries, High Liner Foods (USA) Incorporated,  Sjovik, h.f. and Icelandic Northwest Ltd. High Liner Foods  (USA) Incorporated’s wholly owned subsidiaries include  Viking Seafoods, LLC and ISF (USA) LLC. Sjovik, h.f. has  subsidiaries in Thailand and China. These companies  purchase and/or sell inventory between them, and do so  in the normal course of operations. As well, the parent  company provides management and IT services to the  subsidiaries. The companies lend and borrow money between  them. Periodically, capital assets are transferred between  companies. On consolidation, revenue, costs, IT services,  gains or losses, and all inter-company balances, are eliminated.  In 2010, we incurred one-time costs of $1.0 million associated  with the Viking Acquisition, partially reduced by a reversal  of over-accrued reorganization costs from the prior year.  These included due diligence, appraisal costs, legal and  other professional fees. In 2011, we expensed $10.9 million  of acquisition, financing and integration costs related to the  Icelandic USA Acquisition. These costs included investment  banking, legal, accounting, due diligence, and similar  transaction costs. Additional details relating to the new standards and  amendments are included in our consolidated financial  statements for fiscal 2011 in note 3(f) New standards  and interpretations issued but not effective. Our current  evaluation is that the effect, if any, that these new standards  and amendments will have on our financial results is  minimal as the changes applicable to the Company primarily  relate to disclosure requirements, or were previously  anticipated and options were chosen on transition to IFRS to  minimize their impact on future reporting periods. Interest expense in 2011 increased from 2010 levels as a  result of higher average short-term bank loans. We expect 1 our short-term bank loans in 2012 to be higher than those  of 2011 due to the working capital acquired as part of the  Icelandic USA Acquisition and the additional loans that  were used to finance the Acquisition. We also expect 1  higher  interest rates on our facility due to higher interest rate  spreads in the new long-term debt that was entered into for  the Acquisition. Consequently, we expect 1  interest expense in  2012 to be higher than it was in 2011. During 2011, we purchased $3.7 million of shellfish from  Clearwater Seafood’s Limited Partnership at negotiated  market prices. We sell the shellfish to our customers.  Clearwater owned a significant, non-controlling interest in  the Company during most of 2011. As well, we store products  in Crystal Cold Storage & Warehousing Inc. where we pay  a market-based storage price, and we lease our Malden  production facility from Pier 17 Realty Trust Inc. where we  pay a market-based rent. These facilities are owned by the  vendors of the Viking Acquisition. Standards Board (IASB) and the IFRS Interpretations  Committee (IFPIC) have issued additional standards and  interpretations with an effective date applicable for High Liner in reporting periods subsequent to fiscal 2011 as follows: • IFRS 7 – Disclosures – Enhanced De-recognition Disclosure  Requirements; • IFRS 9 – Financial Instruments: Classification and  Measurement;  • IFRS 10 – Consolidated Financial Statements; • IFRS 12 – Disclosure of Interests in Other Entities; • IFRS 11 – Joint Arrangements; • IFRS 13 – Fair Value Measurement; • IAS 19 – Post-employment Benefits (Including Pensions);  • IAS 12 – Income Taxes – Recovery of Underlying Assets; and • IAS 1 – Presentation of Financial Statements (IAS 1) and the presentation of Items in Other Comprehensive Income (OCI). 4.3 FINANCINg COSTS