write-off

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write-off

Informal something damaged beyond repair, esp a car
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
After the bank unearthed the level of illiquid trades that the trading division had completed, it began a thorough write-down process, which took two and a half months to complete, and approached the USD1bn level.
Further, the company's board of directors has determined a need for write-down of the associated business BIMobject AB based on the share price development.
The Gunnebo Security Group (STO:GUNN.ST), a provider of security solutions, announced yesterday that its fourth quarter 2013 results will be burdened by EUR5.0m as a result of an assignment and a write-down of loans related to the divestment of Perimeter Protection (Perimeter) to Procuritas Capital Investors IV (Procuritas) carried out during 2011.
Rio Tinto chairman Jan du Plessis said: "The Rio Tinto board fully acknowledges that a write-down of this scale in relation to the relatively recent Mozambique acquisition is unacceptable.
17 November 2011 - Alm Brand A/S (CPH:ALMB) swung to a pre-tax loss of DKK95m (USD17.3m/EUR12.8m) in the third quarter of the year because of write-downs in its banking unit, the Danish insurance and banking group said on Wednesday.
In July-September 2010, the net loss stood at SEK8.4m as there were zero write-downs.
''Taking into account global bank write-downs of some $1.3 trillion through the first half of 2009, we expect significant additional write-downs of $1.5 trillion ahead,'' it said.
He predicted a write-downs hit of pounds 1.14 billion.
The report said banks needed more capital to weather the expected write-downs and to restore investor confidence in the financial system.
$1.16 billion on a big goodwill write-down on its newspaper publishing business.
It also recorded an operating profit of $73.8m before impairments and fair value write-downs.