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.
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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 ?
PARIS: France's biggest retail bank Credit Agricole said yesterday it would book a 2.5 billion euro ($3.59bn) pre-tax writedown this year due to the credit crisis rattling global financial markets.
According to UBS Investment Research analyst Peter Rozenberg, the bank could take a USD4.8bn pre-tax writedown. However, in spite of the write down, it still could have 8.5% as Tier 1 capital ratio.
A subsequent fall in oil prices resulted in pre-tax writedowns of about $13 billion.
The bank lost USD7.2bn in pre-tax writedowns in securities and banking.