This excerpt taken from the PBG 8-K filed Nov 18, 2008.
Item 2.06 Material Impairments.
The Company has completed its annual impairment testing in accordance with the Financial Accounting Standards Board’s Statement No. 142, "Goodwill and Other Intangible Assets." As a result of this testing, the Company will record in the fourth quarter of 2008 a $412 million non-cash impairment charge relating primarily to certain intangible assets for our Electropura water business in Mexico. Results of the impairment charge were based upon the completion of an extensive strategic review and the finalization of certain restructuring plans for our Mexican business. In light of the deteriorating macroeconomic conditions and our outlook for the business in Mexico, our expectation of the future performance has declined, reducing the value of these intangible assets. The Audit and Affiliated Transactions Committee of the Company’s Board of Directors reviewed and approved this charge on November 13, 2008.