In cases where the facts on impairment have been favorable or there have been other defects in the prosecution's case, I have been able to obtain reductions to wet and dry reckless with a dismissal of the refusal allegation.
As discussed in our last blog, IFRS 9's expected credit loss(ECL) impairment model requires financial assets to be allocated to Stage 2 when there has been a significant increase in credit risk(SICR).
Items such as amortization of intangible assets, though not directly affecting HP's cash position, represent the loss in value of intangible assets over time.
Furthermore, an impairment loss was recognized in the third quarter to compress the assets of Chinese manufacturing bases, resulting in the posting of an impairment loss of 109 million RMB(approximately 2.1 billion yen) as an extraordinary loss.
In a conference call with institutional investors on Tuesday, the company further explained that“we are currently operating mining machines, and the depreciation cost will be almost zero after recognizing the impairment loss.
Global Brands is expected to report a rise in full-year business profit on continued GU strength. However, full-year operating profit is forecast to fall after incorporating a ¥15.0 billion impairment loss on J Brand.
Sprint conducted impairment tests, and as a result, the estimated fair values of the Sprint trade name and the Wireline property, plant and equipment were less than the respective carrying amounts and impairment losses were recognized.
These include, in particular, impairment losses on assets in the Chemicals Business Area and expenses for the restructuring of the Group, the planned shutdown of some smaller chemicals locations outside Germany and expenses to strengthen the Evonik brand.
The proposed amendments would remove this requirement for all cash-generating units, and instead require the disclosure of the determined recoverable amount only when an impairment loss was recognized during the reporting period.
Factors here were the impairment on intangible assets and provisions announced on October 22, 2019, for the current structural program, which had a negative impact on the reported EBIT and on net income.
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