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Message: <blockquote data-quote="Myrdin Potter" data-source="post: 9097484" data-attributes="member: 6843593">Their most recent 10-Q"Impairment of Film and TV Reporting UnitDuring the second quarter of 2023, the Company determined that a triggering event occurred following a downward revision of the Company's financial forecast for its Film and TV business, driven by challenging industry conditions that include the ongoing strike by the Writers Guild of America. As a result, the Company performed a quantitative impairment test and determined that the Film and TV reporting unit within the Company's Entertainment segment, was impaired. During the second quarter of 2023, the Company recorded pre-tax non-cash impairment charges of $296.2 million as the carrying value of the Film and TV reporting unit exceeded its expected fair value, as determined using a discounted cash flow model which is primarily based on management’s future revenue and cost estimates. These impairment charges consisted of a $231.2 million goodwill impairment charge associated with goodwill assigned to the Company's Film and TV reporting unit, recorded within Impairment of Goodwill and a $65.0 million intangible asset impairment charge related to the Company's definite-lived intangible eOne Trademark, recorded in Selling, Distribution and Administration costs, within the Consolidated Statements of Operations for the quarter and six months ended July 2, 2023."$300M write-off. Non-cash always ignores that cash was paid in the past (or debt assumed which needs to be paid in cash or stock was issues that could have been sold for cash and results in permanent dilution unless stock is bought back for cash).From 2022 10-K"Based on the value of the net assets held by eOne Music, which included goodwill and intangible assets allocated to eOne Music as part of the eOne acquisition, the Company recorded a pre-tax non-cash goodwill impairment charge of $108.8 million within Loss on Disposal of Business on the Consolidated Statements of Operations for the year ended December 26, 2021."I see about a $400M loss there between the two of them. I think they assigned about $500M value to eOne Music that they later sold for around $400M and they paid about $3.8B of all of eOne in 2019. So $3.3B value of the non-Music eOne and they just sold a big piece of it for $500M. They did retain some major brands (like Peppa Pig) and did not talk about a charge in their recent release, but they did not talk about a charge for the Music sale when it was announced.They also cut eOne staff and took a severance charge recently.To this accountant, seems like a bloodbath to me.</blockquote>

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