MANAGEMENT’S DISCUSSION & ANALYSIS (CONT’D) On November 15, 2012, High Liner Foods announced the  redemption of all outstanding non-voting equity shares (“Non- Voting Shares”) issued by it, in exchange for common shares  (“Common Shares”) of High Liner Foods, with one Common Share  being issued for each Non-Voting Share redeemed. On November 15,  2012, related parties of High Liner Foods held 382,420 Non-Voting  Shares, or 21.7% of Non-Voting Shares. The redemption did not  materially affect the voting position of any such individual related  party. The redemption was approved on November 15, 2012 by a  committee of the board that was appointed by the board of High  Liner Foods on November 8, 2012 to consider the Non-Voting  Shares and, if it determined appropriate, the potential redemption  of the Non-Voting Shares. There were no contrary or dissenting  views expressed by members of the board or committee. The  transaction was exempt from the valuation and shareholder  approval requirements of Multilateral Instrument 61-101 because  the fair market value of the transaction was below 25% of High  Liner Foods’ market capitalization. This category consists of amortization of intangible assets, brands,  and customer relationships over their estimated useful lives. The  final purchase price accounting for the Icelandic USA Acquisition  was completed in 2012. The purchase price accounting for the  American Pride Acquisition will be finalized in 2014. Intangible  assets resulting from this acquisition are expected to be nominal in  value and therefore, no amortization has been recorded in 2013.  Amortization expense was $5.3 million in 2013 and $5.6 million in  2012. Amortization of intangible assets is recorded on the income  statement in “Selling, General and Administrative Expenses”. As required by accounting pronouncements, we performed  goodwill and indefinite life intangible asset impairment tests  in both fiscal 2013 and 2012, which showed that goodwill is  not impaired.  In 2012 and 2013, we incurred acquisition, integration and other costs related to the Icelandic USA and American Pride Acquisitions. The  following table shows the financial impact of various items related to: the acquisition efforts related to the American Pride Acquisition in  2013, including investment banking, legal, accounting, due diligence and similar transaction costs; and the integration efforts and related  impairments associated with the Icelandic USA Acquisition. As part of optimizing our supply chain after the Icelandic USA Acquisition, we  announced in Q2 2012, that we were closing two of our production facilities, which resulted in accelerated depreciation and impairment of  property, plant and equipment at these facilities in 2012.  4.4  Business Acquisition, Integration and Other Expenses  4.3  Amortization of Intangible Assets Fifty-two weeks ended December 28, December 29,  (Amounts in $000s) 2013 2012 Pre-tax basis: Impairment of property, plant and equipment  $ — $ 13,230 Business acquisition, integration and other expenses  3,256 10,741 Cost of sales:  Additional depreciation for impairment of property, plant & equipment  — 1,879 $ 3,256 $ 25,850 After-tax basis: Impairment of property, plant and equipment  $ — $ 8,635 Business acquisition, integration and other expenses  2,068 6,895 Cost of sales:  Additional depreciation for Impairment of property, plant & equipment  — 1,146 $ 2,068 $ 16,676 HIGH LINER FOODS INCORPORATED 28