"The market was looking for a profit of around $92 million but this year it will be negative, at least $150 million, after some $250 million in goodwill impairment charges.
These, it should be noted, are one-off changes and are not cash items"
Goodwill is not a P&L item. It is a balance sheet item. It only affects the working capital not the cashflow.
sigma a shocker, page-8
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