A staggering $518 billion was written off companies’ books through impairment charges in 2020 amidst the COVID-19 pandemic. $203.3 billion of that came from impairments related to property, plant, and equipment (PPE). As noted in our most recent report, Impacts … Continue reading
Category Archives: Impairments
Impacts of COVID-19 on Public Companies
Audit Analytics recently released a new report, Impacts of COVID-19 on Public Companies. Leveraging our extensive databases, this report provides an in-depth look at the pandemic’s impacts on certain aspects of financial reporting and financial health metrics of public companies. … Continue reading
The Risks of Long-Term Asset Valuation
Impairment has been a hotly debated issue as of late. Much of the discussion has focused on intangible assets, specifically debating the merits of impairment, depreciation, and amortization when recording the value of long-term intangible assets. The valuation of intangible … Continue reading
ExxonMobil, Impairments, and the SEC
On November 24, 2020, ExxonMobil Corporation [NYSE: XOM] issued a press release indicating that the company no longer plans to develop portions of its dry gas portfolio, resulting in after-tax impairments of $17-20 billion. Like its competitors, a portion of … Continue reading
Goodwill and Intangible Asset Impairments in S&P 500 – Part 2
This is Part Two of a two-part post analyzing goodwill and intangible asset impairments. In Part One of this post, we looked at overall trends with impairment charges related to goodwill and intangible assets in light of an FASB invitation … Continue reading
Goodwill and Intangible Asset Impairments in S&P 500
In July 2019, the Financial Accounting Standards Board (FASB) issued an invitation to comment on identifiable intangible assets acquired in a business combination and the subsequent accounting for goodwill with the intention of determining if there is a cost benefit … Continue reading
Audit Analytics now Offers Accounting Quality Insights
Audit Analytics is proud to announce Accounting Quality Insights, our newest research product geared towards investors and financial professionals. Accounting matters are crucial in understanding the complete financial picture of a company; our insights cover accounting, control, and related governance … Continue reading