Write-down
AccountingReducing the carrying value of an asset that is no longer worth it.
In plain terms
One enormous write-down after years of none means the problem existed for years.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Impairment
AccountingA write-down of a long-lived asset or goodwill.
In plain terms
A large one in a new CEO’s first year usually means assets were overstated before.