IFRS Impairment Definition net, like, definition, carrying, impaired

torontoanalyst

Under IFRS, an asset is impaired if: carrying value > recoverable amount

Recoverable amount is defined as the greater of 'fair value less any selling costs' AND the 'value in use'.

Let's say an asset has:
carrying value = 95
net fair value = 100
value in use = 90

By the definition above, the asset is NOT impaired - is this correct?

Just would like to confirm my understanding that both the 'net fair value' AND 'value in use' has to be greater for the asset to be impaired. Thanks.