more write-downs coming?Am wondering if there will be anymore write-downs this qtr or new 'reserves' booked. Sometimes in-coming CEO's like to pad the balance sheet. Lance pulled this on his first earnings report Q3 2016 with a $10M contract loss provision (see 2016 Q3 MD&A under "Operating EBITDA").
I noticed the most recent 2018 Q3 report indicated Goodwill is tested in the 4th qtr....maybe a write-down coming up?
"Goodwill is tested annually in the fourth quarter or whenever there is an indication that an asset may be impaired. The Company performs its goodwill impairment testing based on three groups of Cash Generating Unit's (“CGU's”) representing its three operating segments as this is the lowest level at which management monitors goodwill. The GeoComm CGU represents a material portion of the Space Systems segment, and as such, the Company identified an indicator of goodwill impairment at the Space Systems segment. The Space Systems segment is comprised of multiple CGU’s, which include the GeoComm CGU, Smallsat CGU and numerous CGU’s within the MDA Canada business. The goodwill impairment test yielded no impairment, as the fair value of the Space Systems segment exceeded its carrying value by 87%."