Express spent $511 million (including assumed debt) last year on three big deals and booked $476 million in goodwill; in one of these deals it recorded goodwill in excess of the purchase price.
But a 10-K report published today notes the final numbers: It was nearly $54 million lower, at $479.1 million, with $395 million of that recorded as goodwill.
Accordingly, we recorded a goodwill impairment charge of $5.1 billion, reducing Phone Hardware's goodwill from $5.4 billion to $116 million, net of foreign currency remeasurements, as well as an impairment charge of $2.2 billion related to the write-down of Phone Hardware intangible assets.
Alternatively, you could record $850 million in goodwill, $200 million in acquired assets and $50 million in a reserve for losses on those assets that gets booked to goodwill).
When Tyson Foods acquired IBP for $4.6 billion last August, Tyson recorded $1.8 billion in goodwill, a bookkeeping entry that reflects the premium over IBP's book value that Tyson paid to buy out IBP.
And the last time I was there--I don't remember when, six or seven years ago--I had the best time looking at used records in the Goodwill thrift shops.
Onstage Ms. Chan performed 'It's a Wonder', a song she originally recorded with another UNICEF Goodwill Ambassador, Jackie Chan.
Ms. Chan is dedicating the proceeds from the song "It's a Wonder", recorded with another UNICEF Goodwill Ambassador and film superstar Jackie Chan, to UNICEF in honour of the 60th anniversary of UNICEF.
