4 ms·
Written off. They might not have spent $30b but they likely valued their asset base at >>> $30b+ and had to adjust that at the time of converting to for profit
by grebc 4mo ago
Written off.
They might not have spent $30b but they likely valued their asset base at >>> $30b+ and had to adjust that at the time of converting to for profit, is how I read it.
“One time non-recurring” is also just accounting double speak that lets executives cover up dumb stuff while sounding plausibly OK.