Parent Of Broker Records Goodwill Impairment Charge From Economic Impact Of COVID-19
July 28, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
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Edison International reported that it has recorded a goodwill impairment charge of $34 million ($25 million after-tax) in 2020 for its Parent and Other segment, related to Edison Energy, an energy consultant whose services include supply procurement, stemming from the economic impact of COVID-19.
For the three months ended June 30, 2020, the Edison Energy Group and subsidiaries segment reported a loss of operations of $27 million, which reflects the impact of the goodwill impairment charge, versus a loss of $1 million a year ago