This excerpt taken from the AES 10-K filed Feb 26, 2010.
In addition to the asset impairment expense discussed above, other-than-temporary impairments of cost method investments of $12 million and $15 million were recorded in the years ended December 31, 2009 and 2008, respectively. These impairment charges primarily related to the Companys investment in 2007 in a company developing a commercial facility for a blue gas (coal to gas) technology project. The Company accounted for the investment in convertible preferred shares under the cost method of accounting. During the fourth quarter of 2008, the market value of the shares materially declined due to downward trends in the capital markets and management concluded that the decline was other-than-temporary and recorded an impairment
THE AES CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued)
DECEMBER 31, 2009, 2008, AND 2007
charge of $10 million. In 2009, this investment was determined to be further impaired and an additional $10 million other-than-temporary impairment charge, representing the remaining value of the shares, was recorded.
There was no other-than-temporary impairment of cost method investments in the year ended December 31, 2007.