The struggle for GE continues for a major part of 2018, as the company postponed its Q3 2018 earnings call by five days to October 30, 2018 -- largely owing to needing further review of the fair value of all its assets and liabilities, after it came to notice that the goodwill of the power division needs a write-down of ~$23 billion.
With profits dropping by nearly 30% in the previous quarter, this $23 billion book entry is another major blow for the company. Market analysts believe the real economic loss for GE may be in the range of $67 billion.
The abysmal performance of the power division and the renewable energy division in 2018, coupled with this impairment loss, may make GE's balance sheet look worse compared to its recent past even though there is zero cash loss.