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DowDuPont reveals $4.6B impairment charge; shares drop


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DowDuPont reveals $4.6B impairment charge; shares drop

DowDuPont Inc. said its subsidiary E. I. du Pont de Nemours and Co. will recognize a $4.6 billion non-cash impairment charge in the quarter that ended Sept. 30, sending the company's shares down more than 6% in extended-hours trading.

The diversified chemicals firm said the impairment charges are related to goodwill and other assets of the subsidiary's agriculture reporting unit.

The subsidiary also said revised cash flow projections of the agriculture reporting unit have resulted in lower long-term sales and margins in North America and Latin America and "unfavorable currency impacts related to the Brazilian real."

DowDuPont has pared losses as of 6:02 p.m. ET, trading 3.55% lower at $56.50 per share.