Olin To Record Non-cash Pretax Impairment Charge Related To Goodwill In Q3 - Quick Facts

(RTTNews) - Olin Corp. (OLN) said its third quarter financial results are anticipated to include a non-cash pretax impairment charge related to goodwill of approximately $700 million. The company said the goodwill impairment charge is primarily the result of the sustained lower Olin stock price during 2020. The approximately $700 million non-cash pretax goodwill impairment charge includes approximately $555 million related to the Chlor Alkali Products and Vinyls segment and approximately $145 million related to the Epoxy segment.

Olin noted that none of the impairment charges will result in any current or future cash expenditure. The company said the charges do not have an impact on its compliance with the covenants and restrictions under all outstanding credit agreements.