The new tax law requires the firm to write down the value of its enormous cache of deferred tax assets, generated during that period of losses. (businessinsider.com)
These companies initially recorded their deferred tax assets at the older, higher rate, so the tax cut made those assets less valuable. (cnbc.com)
It will absorb a $ 35 million net loss, after writing down deferred tax assets associated with the business. (afr.com)