What does fixed income — goodwill impairment mean?

A non-cash charge reflecting a decrease in the value of goodwill for the Fixed Income segment.

How do you interpret fixed income — goodwill impairment?

A loss signals that the segment's business prospects have deteriorated, potentially indicating past overpayment for acquisitions.

How does fixed income — goodwill impairment compare across companies?

Standard accounting impairment charge reported by all public companies following acquisition activity.

First Horizon FHN Fixed Income — Goodwill Impairment

Discontinued — last reported Q4 '16

Similar metrics at other companies

JEFFixed income — Goodwill

$578.5M+0.3%

FNFCorporate and Other — Goodwill impairment

$750K—

HBANOperating Segments — Goodwill Impairment

$3M+300%

FISIntegrated Financial Solutions — Goodwill Impairment

$0—

DOWIndustrial Intermediates & Infrastructure — Goodwill, Impairment Loss

$172.5M—

HBANTreasuryand Other Non — Goodwill Impairment

$0—

Other financials

Income statement

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Revenue$862.0M+6.2%

Net income$262.0M+20.2%

EPS (diluted)$0.53+29.3%

Balance sheet

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Cash & equivalents$1.9B—

Total debt$5.5B0.0%

Total equity$9.2B+4.8%

Total assets$84.1B+3.2%

Cash flow

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Operating cash flow$278.0M-20.3%

CapEx$8.0M-11.1%

Free cash flow$270.0M-20.6%

Valuation

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Market cap$11.78B+8.9%

P/E11.5×-2.0×

P/S3.4×0.0×

Profitability

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Net margin29.6%+4.4pp

FCF margin30.4%—

Returns & leverage

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Return on equity11.5%+2.4pp

Debt / equity0.6×0.0×

Where this comes from

Reported directly by First Horizon in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The official record: First Horizon’s 10-K, filed February 27, 2017, on SEC EDGAR. View the filing →

Questions, answered.

What does fixed income — goodwill impairment mean?: A non-cash charge reflecting a decrease in the value of goodwill for the Fixed Income segment.
How do you interpret fixed income — goodwill impairment?: A loss signals that the segment's business prospects have deteriorated, potentially indicating past overpayment for acquisitions.
How does fixed income — goodwill impairment compare across companies?: Standard accounting impairment charge reported by all public companies following acquisition activity.