"Sure, we've had impairment of assets and receivables write-offs," said David L. Calhoun, president of GE Transportation, which includes the company's aircraft-engine business.
There was an additional charge of $11.1 million, or 4 cents a share, related to the impairment of assets at the motor-sports operation of Octagon, which has reported huge losses in the last year.
In the quarter a year earlier, the company took a charge of $63 million, or 11 cents a share, for impairment of assets and $18 million, or 3 cents a share, for restructuring and investigation costs, and had a gain of $13 million, or 2 cents a share, for facility sales.
Not only did this not happen there were some signs that things got worse.Nor were there correlations between the share price and the shift in reported value of investment instruments, goodwill and the impairment of assets—all typically critical to an investor's analysis.
The purpose of this study is to identify the reality of implementing International Accounting Standard 36 "Impairment of Assets" in Jordanian industrial companies shareholders.
In February, Journal Register reported fourth-quarter 2007 earnings that included a non-cash charge of $181.3 million for the impairment of assets and goodwill, mostly related to a decline in the value of its Michigan properties.
The garden centre business, bought for £156m in 2007, reported a £48m loss last year after booking £54.4m in impairments on assets, including stores.
But it slid to a big loss from a pre-tax profit of £6.6m in the prior year, after booking £54.4m in impairments on assets, including stores.
Most firms expect continued heavy write-downs this year but an improvement thereafter: RBS, for example, reckons its bad bank has now recognised some 50-75% of the impairments the assets are expected to generate.
