米国上場企業、３１９０億ドル弱ののれんを新規計上（CFOより）

Balance Sheets Filled With Goodwill

米国Duff & Phelps社の調査によると、米国上場会社が２０１７年中に新規に計上したのれんの金額は３１９０億ドル弱にもなったという記事。２００８年以来の最高額とのことです。

Nearly $319 billion of goodwill was added to U.S. companies’ balance sheets during 2017, the highest level since 2008, according to the latest Duff & Phelps U.S. Goodwill Impairment Study. That reflected a robust year for mergers and acquisitions.

他方、のれんの減損も２３％増の３５１億ドルにもなっているそうです。のれん減損の平均金額は２１％増の１２０百万ドルとなっています。

But that abundance of goodwill was accompanied by a rise in goodwill impairments, the charges companies record when goodwill’s carrying value on their financial statements exceeds its fair value. Impairments climbed 23% in 2017, to $35.1 billion. And the size of the average goodwill impairment event rose 21%, to $120 million.

２０１８年もこの傾向は続いており、すでに明らかにされている減損ワースト３だけでも、３００億ドルに達しています。

For 2018, Duff & Phelps is projecting a similar trend. “The top three goodwill impairment events disclosed thus far have neared $30 billion, with several other material impairments already being reported,” stated Greg Franceschi, managing director and global leader of Duff & Phelps’ financial reporting valuation practice. “This trend points to yet another significant increase in the overall goodwill impairment amount” in 2018.

２０１７年ののれん減損ワースト１０は以下のとおり。

The top 10 goodwill impairments in 2017 came from Frontier Communications ($2.7 billion), General Electric ($2.6 billion), Liberty Expedia Holdings ($2.2 billion), Windstream Holdings ($1.8 billion), Dentsply Sirona ($1.2 billion), Community Health Systems ($1.4 billion), Discovery ($1.3 billion), Liberty TripAdvisor Holdings ($1.3 billion), Envision Healthcare ($1.0 billion), and Lincoln National ($0.9 billion).

２０１８年は、ＧＥが第３四半期で２２０億ドルもの減損を計上しています。ConocoPhillips社が２００９年に損失計上した２５０億ドルに次ぐ金額です。

All of those impairment charges were dwarfed by the $22 billion accounting hit General Electric took in the third quarter of 2018. That impairment was the biggest impairment charge (of any type) for a U.S. company since ConocoPhillips wrote off $25 billion of goodwill from its balance sheet in 2009.