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Most commentators thought it a grossly inflated price, a judgment Murdoch tacitly endorsed this month by writing the company's goodwill value down 50%.
The company said the Oklahoma City bank had a $10.8 million operating loss and required a $42.8 million write-off of its goodwill value.
All the noise follows the company's announcement last month that it would likely have to write off most of the remaining $30.7 billion in non-cash goodwill value from its $35 billion acquisition of Nextel and a number of affiliates.
Losing them, he says, "would cost too much in Gucci's goodwill value".
That will change Oath's goodwill value from $4.8 billion to $0.2 billion in the fourth quarter.
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The Australian company said some items in its results had not been finalised, including testing and assessment of the goodwill values for impairment of its UK business, which it bought from Quindell last year.
Nor will firms be able to write off goodwill (the value of a business to an acquirer over and above that of its physical assets) over a period of, say, 20 years.
This difference is what accountants call "goodwill"–the value that investors see beyond the tangible assets.
Its image is an important element to the IPO, as that investors are being asked to put their money into what are essentially intangible assets: brand value, goodwill, and the like.
After a recent writeoff of goodwill, the book value is a negative $3.2 billion.
Thanks to recent accounting rules, Tyco does not have to write down goodwill unless the value is significantly impaired.
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CEO of Professional Science Editing for Scientists @ prosciediting.com