During 1H20, CCP acquired Baycorp for $65m. Note 9 of the 1H20 results announced today deals with the accounting aspects of that.
The balance sheet shows the CCP did not pay anything for goodwill. On the contrary, note 9 indicates a $16m "restructuring provision", which seems to be in the balance sheet under non-current liabilities.
Am I right in thinking there is conservative accounting going on here?
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