Exact(7)
Earlier this month, Honeywell reported a $250 million asset write-down from the transfer of its computer business into a new multinational concern.
Stora Enso, one of the world's biggest paper makers, predicted a recovery in demand after an asset write-down led to a third-quarter loss.
The loss at ChevronTexaco, the second-largest American oil company, reflected a $1.55 billion asset write-down as well as the slump in refining.
That included a noncash charge of $18.3 million for an asset write-down and one-time costs for changes that will lower costs in the long run, like closing a printing plant and employee buyouts.
Last week brought a dreadful earnings report from Tata Motors, including a loss at the EBIT level and an asset write-down totaling 3.1 billion euros.
Excluding the adjustment for the asset write-down, and the holding back of some income related to the launch of its Windows 8 system, Microsoft profits beat those expected by investors.
Similar(53)
These include restructuring charges, asset write-downs or losses on the sale of assets.
The comparison suggests that the worst is yet to come in asset write-downs.
About $7 million of the pretax costs are related to the asset write-downs.
Huge asset write-downs and earnings restatements resulted in early 1998 and 1999.
That could result in greater asset write-downs for this corner of banking.
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