from The American Heritage® Dictionary of the English Language, 4th Edition
- n. Accounting A reduction of the entered value of an asset.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. a depreciation, or a lowering in the price or value of something
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. (accounting) reduction in the book value of an asset
Sorry, no etymologies found.
At the same time, the country is seeking an agreement with private sector creditors for a proposed €100 billion write-down, which is also a precondition for the new troika loan.
Arizona and California have allocated a total of $1 billion in federal funds for a write-down program that offers to match as much as $50,000 in principal reductions by banks.
Both states have barred borrowers who did a "cash-out" refinancing from being eligible for a write-down, and loan balances aren't immediately forgiven.
It also recently took a goodwill write-down of about $255 million, related to slower projected growth for its Burt's Bee's business.
Still, it swung to a loss for the period on a $6.1 million write-down.
"The biggest single thing Obama could do on the economy that would provide a massive boost would be a major mortgage write-down program," says Mike Lux, CEO of Progressive Strategies.
In 2010, it reported net profit of €1.26 billion after taking a hit from a large write-down on its 4.79% stake in Italy's Intesa Sanpaolo SpA.
That's up from a loss of $466 million, or $1.31 a share, a year ago, when the company took a $502 million write-down on its time-share business.
The Forest City, Iowa, company on Thursday posted a profit of $4.9 million, or 17 cents a share, for its fiscal fourth quarter that ended Aug. 28, compared with a year-earlier loss of $50.2 million, or $1.73 a share, which included a $1. 41-a-share write-down of deferred tax assets.
The most-recent quarter included 28 cents of earnings from discontinued operations as well as a six-cent charge related to settling an action filed by Connecticut related to average wholesale prices and a $72 million write-down related to its technology solutions arm.