Wednesday, January 21, 2009

Got Goodwill? Part 5

Impairment Hall of Fame

Tough times mean write-downs of assets including goodwill and intangibles. Following are write downs announced recently.

ConocoPhillips – oil and gas: $25.4 billion in goodwill impairments-- $7.3 billion before- and after-tax impairment related to ConocoPhillips' investment in LUKoil and additional after-tax impairments totaling $1.3 billion

Royal Bank of Scotland: $U.S. 20 to 28 billion goodwill impairment charge.

Regions Financial: $6 billion goodwill impairment in its banking reporting unit.

AMD – technology: $3.2 billion impairment to goodwill and intangibles

OfficeMax -- $1-billion impairment in goodwill and trade names

United Rentals: $1.1 billion goodwill impairment relating mostly to goodwill arising out of acquisitions made by the company between 1997 and 2000.

Brunswick Corp.--consumer brands: $1-billion goodwill impairment

JDS Uniphase: up to $744 million goodwill impairment

McMoRan Exploration - oil and gas exploration: $291.8 million impairment charges on oil and gas property, plant and equipment

Celanese – chemicals: $100 million impairment of fixed assets

Fulton Financial – banking: $90 million goodwill impairment charge

H.B. Fuller Co. - adhesives and specialty chemical products: $86.9 million goodwill and asset impairment charges mostly related to the company's 2006 acquisition of Roanoke.

Mattson Technology: $18 million against goodwill, $7 million against intangibles and $3 million against fixed assets.

1 comment:

The IFRS Exorcist © said...

Quite a scary list.

Thanks for the Link Malcolm