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Article: Qimonda's Operations and Balance Sheet Unaffected by Infineon Write-Down Goodwill Impairment of EUR 61 Million; Remaining Assets Not Impaired.
- Article from:
- Business Wire
- Article date:
- April 21, 2008
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MUNICH, Germany -- Infineon Technologies AG, Munich, today announced that it takes the next step in preparation for the planned disposal and resulting deconsolidation of its investment in Qimonda AG, Munich. As of March 31, 2008, the assets and liabilities of Qimonda are being reclassified into "Assets Held for Sale" in the consolidated balance sheet of Infineon. Following this reclassification, and in contemplation of its planned deconsolidation, the carrying amount of the investment in Qimonda was reduced to its market value determined on a held-for-sale basis. The accounting by Infineon for its investment in Qimonda has no direct impact on Qimonda's financial reporting. ...