OFFICE MAX TO RITE-OFF ANOTHER $105Mln (Tax)

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OFFICE MAX TO RITE-OFF ANOTHER $105Mln (Tax)

 user 2009-01-26 at 10:58:13 am Views: 66
  • #21231
    http://www.chicagotribune.com/business/chi-wed-brf4-office-max-jan21,0,3765660.story
    OfficeMax to expand asset-impairment charge by $105 million
    OfficeMax
    Inc. said in a regulatory filing Tuesday that the office-supply chain
    will need to expand an asset-impairment accounting charge by $105
    million.That comes on top of a pretax, non-cash charge of $935.3
    million that the Naperville-based company recorded in July to reduce
    the value of goodwill and other intangibles on its books.In its
    Securities and Exchange Commission filing Tuesday, OfficeMax said the
    company has completed the second step of its two-part analysis and
    determined that an additional reduction of $105 million in the carrying
    value of goodwill and trade names will be needed.