Kraft Heinz Company (KHC)

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"Why the $15.4 billion Kraft Heinz brand write-down was unusual"

"The company also rocked investors with unexpected news of a probe by the Securities and Exchange Commission that prompted an internal investigation which resulted in a $25 million inventory accounting correction."

"But it’s the staggering $15.4 billion impairment charge, made up of a $7.1 billion goodwill impairment in US Refrigerated and Canada Retail unit and $8.3 billion related to Kraft and Oscar Mayer intangible assets impairment, that drove the company to report a $12.6 billion loss after taxes.

"The Kraft Heinz impairment charge was the seventh largest since 2009."

"Goodwill is recorded as an asset on a company’s balance sheet to record the premium paid for an acquisition over its book value. A company will periodically review the value of this asset and if it’s forced to admit the possibility that the benefits of the acquisition may never be realized, accounting rules require the goodwill asset to written down."

https://www.marketwatch.com/story/why-the-154-billion-kraft-heinz-brand-write-down-was-unusual-2019-02-22