Other than temporary impairment

Other than temporary impairment (OTTI)

Impairment charge taken on a security whose fair value has fallen below the carrying value on balance sheet and its value is not expected to recover through the holding period of the security.
References in periodicals archive ?
M, Other Than Temporary Impairment of Certain Investments in Debt and Equity Securities (SAB 59), and Statement on Auditing Standards no.
M, Other Than Temporary Impairment of Certain Investments in Debt and Equity Securities, was issued to specifically address the phrase "other than temporary.
As discussed below, the requirement to record other than temporary impairment losses on these securities is based on an interpretation of the weight to be given to certain credit rating agency data in making other than temporary impairment assessments under U.
As a result of the recognition of additional other than temporary impairment losses on investments, net income for the year ended December 31, 2008 was $20.
The reduction of Winthrop's carrying balance of its equity investment in Concord resulting from Winthrop's allocable share of loss from Concord does not reflect the additional impairment that Winthrop will recognize for the quarter and year ended December 31, 2008 as the result of its assessment relating to other than temporary impairment of its joint venture equity interest in Concord.
06 per diluted share in the third quarter of 2007) and an other than temporary impairment of available-for-sale Auction Rate Securities (which amounted to $1.
9 million in the first quarter of 2006 related to the other than temporary impairment of these securities since United no longer had the intent and ability to hold them until recovery.
This has caused significant volatility in CHMCA's financial performance and exhibited by a large other than temporary impairment of investments of $22 million in fiscal 2002.
Weak investment returns have significantly impacted fiscal 2002 performance with large non-operating losses and other than temporary impairment charges.
The Company believes that its process to determine that the securities did not have an other than temporary impairment is consistent with the relevant accounting literature.
The results also reflect a more in depth review undertaken by TIAA of its loss recognition policies for other than temporary impairments.
For Presidential Life, the rating action was driven primarily by the adverse performance of its investment portfolio in 2002, with the company reporting net investment losses of $30 million from other than temporary impairments in investments.