January 16, 2018 / 7:35 AM / 3 months ago

BRIEF-Ericsson: ‍result of impairment testing write-down of SEK 14.2 bln​

Jan 16 (Reuters) - Ericsson:

* NON-CASH CHARGE FROM CONCLUDED IMPAIRMENT AND REVALUATED U.S. TAX ASSETS

* SAYS ‍RESULT OF IMPAIRMENT TESTING IS A WRITE-DOWN OF SEK 14.2 B​

* SAYS ‍SEGMENT DIGITAL SERVICES: IMPAIRMENT OF SEK 6.7 B. OF GOODWILL AND SEK 0.4 B. OF INTANGIBLE ASSETS​

* SAYS ‍SEGMENT OTHER: IMPAIRMENT OF SEK 6.0 B. OF GOODWILL, SEK 0.3 B. OF INTANGIBLE ASSETS, AND SEK 0.4 B. OF FIXED ASSETS​

* SAYS ‍LOWERING OF U.S. CORPORATE INCOME TAX RATE FROM 35% TO 21% (EFFECTIVE 1 JANUARY 2018) REQUIRES A REVALUATION OF U.S. DEFERRED TAX ASSETS​

* SAYS ‍CURRENT ESTIMATED IMPACT WILL BE A NON-CASH CHARGE TO GROUP INCOME STATEMENT OF APPROXIMATELY SEK 1.0 B. THAT WILL IMPACT INCOME TAX EXPENSES​

* SAYS ‍SEGMENT MANAGED SERVICES: IMPAIRMENT OF SEK 0.3 B. OF DEFERRED COSTS RELATED TO TERMINATION OF CERTAIN TRANSFORMATION ACTIVITIES​

* SAYS ‍SEGMENT NETWORKS: IMPAIRMENT OF SEK 0.2 B. OF CAPITALIZED DEVELOPMENT EXPENSES RELATED TO TECHNOLOGIES THAT ARE NO LONGER PLANNED TO BE USED​ Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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