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## 31. Business Combinations and Acquisitions of Joint Ventures  | continued 

None of the acquisitions completed during the financial year were considered sufficiently material to warrant separate disclosure of the attributable fair values. The initial assignment of fair values to identifiable net assets acquired has been performed on a provisional basis in respect of certain acquisitions; any amendments to these fair values made during the subsequent reporting window (within the measurement period imposed by IFRS 3) will be subject to subsequent disclosure. 

(i) The gross contractual value of trade and other receivables as at the respective dates of acquisition amounted to €106 million (2011: €65 million). The fair value of these receivables is €103 million (all of which is expected to be recoverable) (2011: €62 million) and is inclusive of an aggregate allowance for impairment of €3 million (2011: €3 million). 

(ii) The principal factor contributing to the recognition of goodwill on acquisitions entered into by the Group is the realisation of cost savings and other synergies with existing entities in the Group which do not qualify for separate recognition as intangible assets. Due to the asset-intensive nature of operations in the Materials business segments, no significant intangible assets are recognised on business combinations in these segments. €106 million of the goodwill recognised in respect of acquisitions completed in 2012 is expected to be deductible for tax purposes (2011: €82 million). 

(iii) The fair value of contingent consideration recognised at date of acquisition is €76 million. On an undiscounted basis, the corresponding future payments for which the Group may be liable range from €nil million to a maximum of €118 million. 

Acquisition-related costs amounting to €4 million (2011: €3 million) have been included in operating costs in the Consolidated Income Statement (note 3). 

No contingent liabilities were recognised on the acquisitions completed during the financial year or the prior financial years. 

The carrying amounts of the assets and liabilities acquired determined in accordance with IFRS before completion of the acquisition, together with the adjustments made to those carrying values to arrive at the fair values disclosed above, were as follows: 

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The following table analyses the 34 acquisitions (2011: 43 acquisitions) by reportable segment and provides details of the goodwill and consideration figures arising in each of those segments: 

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