DowDuPont shares fell more than 6 percent during after-hours trading Thursday as the company faces a $4.6 billion impairment charge.
The chemical company's $4.6 billion charge is related to goodwill and other assets of its agriculture reporting unit, Reuters reported Thursday. Decreases in commodity prices and higher-than-anticipated industry grain inventories are expected to impact farmers' income
In the quarter ending Sept. 30, the company will record the tax provision charge of $75 million, according to the Securities and Exchange Commission filing. The company also assembled updated cash flow projections for its agriculture reporting unit to include anticipated impacts of events during 2018.
This reduction in cash flow projections was mainly caused by lower growth in sales and margins in North and Latin America.
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