took a charge

English translation: set aside provisions

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	took a charge
Selected answer:	set aside provisions
Entered by:	Laura Vinti

08:46 Feb 17, 2005

English language (monolingual) [PRO]
Bus/Financial - Finance (general)

English term or phrase: took a charge

As part of their fourth quarter earnings, XXX also ***took a charge*** relating to the previously announced sale of their YYY division.

Thank you.

Laura Vinti KudoZ activity Questions: 377 (9 open) (12 without valid answers) (30 closed without grading) Answers: 165 United States
Local time: 03:51

set aside provisions

Explanation:
"Taking a charge" usually refers to provisioning. This might be related to impairment of assets (e.g. in the case of bad loans, as seen in the two references), or restructuring charges. The charge quoted in your context might be due to impairment of goodwill, but one would obviously need to know more detail to be certain.

Selected response from:

Ralf Lemster
Germany
Local time: 09:51

Grading comment

Thank you!!
4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

4 +2

set aside provisions

Ralf Lemster

3 +1

received a fee

Johan Venter

incurred loss, took a hit on their bottomline

Craft.Content

incurred a paper loss

David Knowles

Discussion entries: 1

Answers

4 mins confidence:

peer agreement (net): +1

received a fee

Explanation:
It would be easier to confirm 100% with a little more context, but it seems like it refers to a fee

Johan Venter
Czech Republic
Local time: 09:51
Works in field
Native speaker of: English

15 mins confidence:

peer agreement (net): +2

set aside provisions

Ralf Lemster
Germany
Local time: 09:51
Specializes in field
Native speaker of: German
PRO pts in category: 143

Grading comment

Thank you!!

1 hr confidence:

incurred loss, took a hit on their bottomline

Explanation:
As a result of the sale of the YYY division, revenue accrued from the latter was not available in the fourth quarter. This impacted the bottomline.

Craft.Content
Local time: 13:21
Native speaker of:

Hindi
PRO pts in category: 5

2 hrs confidence:

incurred a paper loss

Explanation:
The YYY division had a value in the company's balance sheet, and was shown as part of their assets. They sold this division for less than this value, and therefore they incurred a loss. However, this is a "paper" loss, since they actually received money for the sale.

To give a simple example, if you have a valuable painting which you inherited from your maiden aunt and you think it's worth 10,000 dollars, you might include that 10,000 dollars in your list of assets. When you want some money, and you sell it at auction, you find it's not worth what you thought and you only get 1,000 dollars for it. This is a paper loss of 9000 dollars - you've got 1000 dollars in cash, but you're not as wealthy as you thought you were.

David Knowles
Local time: 08:51
Works in field
Native speaker of:

English
PRO pts in category: 20

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