writedown Archives - CFO

Exxon to Take Record Writedown, Slash Spending

Exxon to Take Record Writedown, Slash Spending

The "high-grading" of Exxon's asset base will enable it to "manage future commodity price cycles while working to maintain a reliable dividend."

By Matthew Heller | December 1, 2020

Altria Takes $4.5 Billion Hit on Investment in Juul

Altria Takes $4.5 Billion Hit on Investment in Juul

"We did not anticipate this dramatic a change in the e-vapor category,” CEO Howard Willard says.

By Matthew Heller | October 31, 2019

Boeing to Take $4.9B Charge for MAX Grounding

Financial Performance

Boeing to Take $4.9B Charge for MAX Grounding

The charge will result in Boeing's largest-ever quarterly loss and "underlines the magnitude of the crisis" it is facing.

By Matthew Heller | July 19, 2019

Verizon to Take $4.6B Writedown on Media Unit

Verizon to Take $4.6B Writedown on Media Unit

After spending $8.9 billion to acquire Yahoo and AOL, the telecom giant is reducing the goodwill value of its media brands to only $200 million.

By Matthew Heller | December 11, 2018

Barclays Shares Jump 4.4% on Dividend Hike

Investment Banking

Barclays Shares Jump 4.4% on Dividend Hike

The bank had cut the dividend by more than half two years ago but is confident it will "generate excess capital going forward."

By Matthew Heller | February 22, 2018

Fannie Mae Takes $9.9B Hit From Tax Law

Fannie Mae Takes $9.9B Hit From Tax Law

The writedown will require the mortgage giant to seek a $3.7 billion cash infusion from the Treasury, its first draw since 2012.

By Matthew Heller | February 14, 2018

Deutsche Bank Expects $1.8B Tax Act Writedown

Deutsche Bank Expects $1.8B Tax Act Writedown

Morgan Stanley, Darden Restaurants also report effects of the tax cuts.

By David Katz | January 8, 2018

Goldman to Take $5B Charge From New Tax Law

Goldman to Take $5B Charge From New Tax Law

Two-thirds of the writedown is due to a provision of the law designed to encourage companies to repatriate funds from overseas.

By Matthew Heller | December 29, 2017

Tax Bill Forces Barclays to Take $1.2B Charge

Tax Bill Forces Barclays to Take $1.2B Charge

The bank is joining other companies that are writing down the value of their deferred tax assets in the wake of the U.S. legislation.

By Matthew Heller | December 27, 2017

Tax Cuts Come With Writedowns for Insurers

Tax Cuts Come With Writedowns for Insurers

S&P estimates the cut in the corporate tax rate will result in an aggregate writedown of about $14 billion of life insurers' deferred tax assets.

By Matthew Heller | December 27, 2017

VW Adds $2.95B to ‘Dieselgate’ Scandal Costs

Financial Performance

VW Adds $2.95B to ‘Dieselgate’ Scandal Costs

The automaker's latest writedown brings the total bill from its diesel emissions cheating scandal to more than $30 billion.

By Matthew Heller | September 29, 2017

$6 Billion Writedown Adds to Toshiba Turmoil

Growth Companies

$6 Billion Writedown Adds to Toshiba Turmoil

The losses from Toshiba power projects "could topple a company whose roots go back to 1875, the dawn of Japan’s modern era."

By Matthew Heller | February 14, 2017

Toshiba to Sell Stake in Memory Chip Business

Toshiba to Sell Stake in Memory Chip Business

The beleaguered company needs cash to offset an imminent writedown that Japanese media have estimated at $6 billion.

By Matthew Heller | January 27, 2017

Toshiba to Take Writedown on Nuclear Deal

Growth Companies

Toshiba to Take Writedown on Nuclear Deal

The potential hit of several billion dollars "may further undermine confidence in company management" after its accounting scandal.

By Matthew Heller | December 27, 2016

SEC Probing Rio Tinto Over Coal Deal Writedown

Risk & Compliance

SEC Probing Rio Tinto Over Coal Deal Writedown

The mining company confirms the investigation of the $3 billion charge it took after its acquisition of assets in Mozambique went bad.

By Matthew Heller | December 2, 2016