Landguy said:
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Just to set the record straight for those here who clearly have no clue what writing off goodwill is. It most certainly IS a loss. Microsoft paid X billion dollars for Nokia, and a good portion of the acquisition went to the balance sheet account 'goodwill'. Now, Microsoft is saying that this balance sheet account, which they paid X billion dollars for, isn't actually worth X minus 7.4 billion dollars. In other words, $7.4 billion of money actually spent by Microsoft is worth absolutely nothing.
As a general rule, if you have no clue how GAAP accounting works (mandatory for SEC filings), you should probably avoid saying that a loss reported in GAAP isn't a true loss.
Money can't buy happiness. Just video games, which make me happy.