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Ann: Confirms FY17 underlying EBITDA and impairment to goodwill, page-36

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telcowiz

317 Posts.

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18/08/17

10:06

Post #: 26584014
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Originally posted by tjtian ↑

I checked my math and found I was using the wrong numbers anyhow.

Net assets are only a bit over $2.3bn. Revising down to $3.70 per share

This assumes that with a $1.5bn 'post tax' write down, you just deduct $1.5bn from the current figure for goodwill.

Figure there must be tax benefits of the write down - but if there are, I don't see why that should change the write down to the goodwill. If anything perhaps it could be a new 'tax asset'? i.e. you shouldn't report a $2.1 bn write down to goodwill as $1.5 bn 'post tax'..

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Accounting standards require the adjustment of goodwill on a periodic basis especially after mergers, and as is indicated in this piece: http://www.investopedia.com/article...does-goodwill-affect-financial-statements.asp
Are usually indicators of a post merger poor performance!

Last edited by telcowiz: 18/08/17

VOC Price at posting: $3.21 Sentiment: Buy Disclosure: Held
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