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AN » Topics » We must test our intangible assets for impairment at least annually, which may result in a material, non-cash write down of goodwill or franchise rights and could have a material adverse impact on our results of operations and shareholders equity.This excerpt taken from the AN 10-K filed Feb 24, 2005. We must test our intangible assets for
impairment at least annually, which may result in a material,
non-cash write down of goodwill or franchise rights and could
have a material adverse impact on our results of operations and
shareholders’ equity.
Goodwill and indefinite-lived intangibles are subject to impairment assessments at least annually (or more frequently when events or circumstances indicate that an impairment may have occurred) by applying a fair-value based test. Our principal intangible assets are goodwill and our rights under our franchise agreements with vehicle manufacturers. These impairment assessments may result in a material, non-cash write-down of goodwill or franchise values. An impairment would have a material adverse impact on our results of operations and shareholders’ equity.
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