When goodwill is impaired, the loss is recognized as an expense on the income statement, reducing net income for the period. At the same time, the goodwill balance on the balance sheet is reduced by the same amount. Under both US GAAP and IFRS, goodwill impairment losses cannot be reversed in later periods, even if the business recovers. Companies must also disclose key details, inclu... https://thealgebragroup.com/what-is-goodwill-impairment