See note 3 (a).  Reported amounts and note disclosures reflect the overall economic conditions that are most likely to occur  and anticipated measures management intends to take. Actual results could differ from those estimates.The  above estimates and assumptions are reviewed regularly. Revisions to accounting estimates are recognized in  the period in which estimates are revised and in any future periods affected.  The cost of defined benefit pension plans is determined by means of actuarial valuations, which involve  making assumptions about discount rates, the expected long-term rate of return on plan assets, future salary  increases, mortality rates and the future increases in pensions. Because of the long-term nature of the plans,  such estimates are subject to a high degree of uncertainty.  The calculation of income taxes requires judgement in interpreting tax rules and regulations. Deferred  income tax assets are recorded to the extent that it is probable that there will be adequate taxable income in  the future against which they can be utilized.   The Company must assess the possibility that the carrying amounts of tangible and intangible assets may not  be recoverable. Management is required to make subjective assessments, linking the possible loss of value  of assets to future economic performance, to determine the amount of asset impairment that should be  recognized, if any.  The Company makes a number of estimates when calculating the recoverable amount of a cash-generating  unit containing goodwill using discounted future cash flows or other valuation methods.These estimates take  into account the control premium in determining the fair value less cost to sell.  The Company reviews estimates of the useful lives of property, plant and equipment on an annual basis and  adjusts depreciation on a prospective basis, if necessary.  Derivative financial instruments are carried in the consolidated statements of financial position at fair value,  with changes in fair value reflected in the consolidated statements of earnings. Fair values are estimated by  reference to published price quotations or by using other valuation techniques. Financial instruments for  which observable quoted prices are not available are subject to a high degree of uncertainty.  The following is a summary of areas involving a higher degree of judgement or complexity, or areas where  assumptions and estimates are significant to the consolidated financial statements: 2. BASIS OF PRESENTATION AND STATEMENT OF COMPLIANCE (CONTINUED): Notes to CoNsolidated FiNaNCial statemeNts (In thousands of dollars except as noted and per share amounts) (d) Use of estimates and judgements (continued): (i)  Fair value of derivative financial instruments: (ii) Useful lives of property, plant and equipment: (iii) Goodwill impairment: (iv) Asset impairment: (v) Income taxes: (vi) Pension plans: (vii) Consolidation: Rogers Sugar Inc. 44