Insight
H2 2020 asset impairments: corporate tracker and accounting primer
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Falling oil prices resulted in 50 of the 60+ companies in our Corporate Service coverage reporting US$192 billion of asset impairments during 2020 (US$232 billion when including a few select companies outside our core coverage). With rolling-average prices bottoming out and crude prices recovering in the beginning of 2021, write-downs are unlikely to be a feature in companies’ H1 2021 results. This report summarises the standards used in different accounting methods, highlights which companies were impacted the most in 2020, and provides our view of what to expect in 2021.
Table of contents
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Key messages
- Large downgrades to price have triggered over US$230 billion of write-downs through 2020
Tables and charts
This report includes the following images and tables:
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Absolute pre-tax* impairment charges since the oil price collapse ( US$1 billion**)
What's included
This report contains:
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