pretax writedown

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Pretax Writedown

In accounting, the reduction in value of an asset before one accounts of taxes owed. Pretax writedowns may reduce one's tax liability. See also: Depreciation.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

pretax writedown

An accounting reduction in the value of an asset, measured before any effect by income taxes.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The 2014 results included USD18.7 million of non-cash pre-tax write-downs on older equipment.
The three lenders posted CAD2.26bn in pre-tax write-downs, adding to about CAS2.3bn taken by Bank of Montreal (NYSE: BMO), Bank of Nova Scotia (NYSE: BNS) and Royal Bank of Canada (NYSE: RY) (TSX: RY).
Citigroup took $6bn in pre-tax write-downs and credit costs on subprime-related direct exposures, $3.1bn on funded and unfunded highly leveraged finance commitments, a downward credit value adjustment of $1.5bn related to exposure to monoline, or municipal bond, insurers, and $1.5bn on auction rate securities inventory.