Good work Defabs From Investopedia: What is 'Impairment'...

Good work Defabs

From Investopedia:



What is 'Impairment'

Impairment is an accounting principle that describes a permanent reduction in the value of a company's asset, normally a fixed asset. When testing for impairment, the total profit, cash flow, or other benefit that's expected to be generated by a specific asset is periodically compared with that same asset's book value. If it's found that the book value of the asset exceeds the cash flow or benefit of the asset, the difference between the two is written off and the value of the asset declines on the company's balance sheet.

BREAKING DOWN 'Impairment'

Impairment is specifically used to describe a reduction in the recoverable amount of a fixed asset below its book value. Impairment normally occurs when there is a sudden and large decline in the fair value of an asset below its carrying amount, or the amount recorded on a company's balance sheet. An accountant tests assets for impairment periodically; if any impairment exists, the accountant writes off the difference in the fair value and the book value. Fair value is normally derived as the sum of an asset's undiscounted expected future cash flows plus the expected salvage value.
Accounts that are likely to be written down are the company's goodwill, accounts receivable, and long-term assets because the carrying value has a longer span of time for impairment. Assets, such as machinery and equipment, depreciate in value over time. This depreciation is distributed over the asset's entire lifetime using methods such as the straight line depreciation method and the declining-balance method.

Read more: Impairment https://www.investopedia.com/terms/i/impairment.asp#ixzz5FkOjI4mM
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Is the announcement received today in line with this?
As others have posted in other threads, why would MIN be so interested in us? And if we are such a rotten egg, why dont they wait for further deterioration?