write-off

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write-off

Informal something damaged beyond repair, esp a car
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.
Following the write-down, the goodwill book value and the intangible rights related to business acquisitions in the balance sheet amount to some EUR134m, Lassila & Tikanoja said today.
The write-downs will have limited effect on the cash flow, the company announced in its third-quarter financial report, published today.
CEO Thomas Bock said the bank wrote off EUR11m from the value of its stake in Oesterreichische Volksbanken AG (WBAG:VBPS) but added no further write-downs are expected in the near term.
The report said banks needed more capital to weather the expected write-downs and to restore investor confidence in the financial system.
In addition to lower levels of balance sheet gearing, they have longer (older) land banks, and so are less vulnerable to write-downs.
Last year Merrill lost about $8bn on second-half write-downs and adjustments of about $24bn.
The banking giant said write-downs for both RBS and recent acquisition ABN Amro would total pounds 1.
The new leadership structure and the write-downs were decided Sunday at an emergency meeting of Citigroup's board.
This study contributes to this stream of literature by investigating the incentives for and consequences of voluntary asset write-downs using a unique research opportunity in the Chinese equity market.
Posting goodwill on the balance sheet also carries the potential for impairment, which could lead to big future write-downs on the profit and loss statements, and increase the effective tax rate for previously acquired goodwill for the period in which the write-down is recorded.