Asset Impairment Losses and Classifications

Access the Google search engine on the Internet at and search for “asset impairment losses.” Discuss examples of asset impairment losses, including the name of the company, the loss amount, the type or types of assets that were written down, the reasons for the write-downs, and a description of the method used by the company to determine the amount of the write-down.

What were the classifications used to classify investments in equity and debt securities? Would these classifications be the same whether they were classified as current or long-term? Was the fair value of those investments greater or less than their cost basis? Explain how you came to that conclusion. What accounting policy should the company follow? How much did the company include in accumulated other comprehensive income for available-for-sale securities? What is the difference between comprehensive income and operating income for these types of transactions?