Evaluasi Resiko Penurunan : Impairment Goodwil Menurun di Tahun 2010

Total penurunan nilai atas goodwill (goodwill impairment charge) terus melorot di hampir seluruh bidang usaha di sepanjang tahun 2010, dan jumlah perusahaan yang mencatat goodwill impairment pun mengalami penurunan hingga 41 persen menurut sebuah studi baru yang dilakukan oleh KPMG. Apa Itu Goodwill? Menurut pengertian PSAK 19 (Aktiva Tetap Tak Berwujud), goodwill diartikan sebagai aset yang mencerminkan manfaat ekonomi masa depan yang timbul dari aset lainnya yang diperoleh dalam kombinasi bisnis yang tidak dapat diidentifi kasi secara individual dan diakui secara terpisah. Di Amerika Serikat FASB melalui Accounting Standard Codification Topik 350, mengartikan goodwill sebagai aset tak berwujud yang tak lain adalah sisa yang timbul dari akuisisi bisnis di mana jumlah yang dibayarkan untuk perusahaan melebihi nilai wajar aktiva bersih yang dapat diidentifikasi perusahaan tersebut. Menurut standar tersebut, goodwill TIDAK diamortisasi tetapi diuji untuk penurunan nilai pada tingkat unit pelaporan setidaknya setiap tahun. Dan, gangguan terjadi ketika goodwill unit pelaporan tercatat melebihi jumlah nilai wajarnya.

Sebuah laporan baru saja dikeluarkan oleh KPMG yang analisis gangguan goodwill untuk perusahaan publik dari Januari 2005 sampai Desember 2010. Berdasarkan informasi keuangan dari 1.879 perusahaan berstatus go public atau (terbuka), penurunan goodwill terus menurun untuk sekitar $ 39 miliar pada tahun 2010, turun 60% dari $ 92 miliar di tahun 2009. Selain itu, jumlah perusahaan yang mencatat goodwill impairment juga menurun dari 217 menjadi 129 saja. Berikut adalah grafik trend yang ada pada laporan studi yang dilakukan oleh KPMG:

Studi ini menemukan bahwa pada tahun 2010 bidang industri mengalami penurunan tertinggi, hingga 36 persen dari total $ 39 miliar pada biaya penurunan goodwill, diikuti oleh layanan telekomunikasi dan energi yang maisng-masing mengalami penurunan 12 dan 10 persen. Goodwill impairment untuk teknologi perangkat keras dan perusahaan peralatan menurun lebih dari 95 persen pada 2010. Demikian juga goodwill untuk bahan, barang modal, dan industri energi juga menurun secara signifikan dari 2009 ke 2010. Industri komponen otomotif dan otomotif, serta industri ecerean (retail), menunjukan penurunan persentase terbesar dalam catatan goodwill impairment. (Sumber: KPMG Institute, Evaluating Impairment Risk)

Evaluating Impairment Risk: Goodwill impairment continues its downward trend in 2010
(http://www.kpmg.com/us/en/whatwedo/industries/japanese-practice/pages/2011-issue3article1.aspx)

Based on data compiled by KPMG LLP, goodwill impairment continued to decline across a number of industries throughout 2010. This downward movement represents a continuation of the trend in 2009 when fewer companies took less goodwill impairment charges compared to 2008.

This study analyzes goodwill impairment for public companies from January 2005 through December 2010 and identifies those industries that may have been more heavily affected. The study's aim is to help financial executives assess recent goodwill impairment trends. Goodwill is a residual intangible asset that arises from business acquisitions where the amount paid for the company exceeds the fair value of the identified net assets of that company. According to FASB ASC Topic 350, Intangibles Goodwill and Other, goodwill is not amortized but is instead tested for impairment at the reporting unit level at least annually. Impairment exists when a reporting unit's goodwill carrying amount exceeds its fair value. The impairment amount is calculated through a hypothetical business combination exercise that determines the fair value of goodwill compared to its carrying value.

Goodwill impairment continues its descent Goodwill impairment losses continued to decline to approximately $39 billion in 2010 down from $92 billion in 20091, a drop of almost 60 percent, based on a study of financial information from 1,879 U.S.-based publicly traded companies. In addition, only 7 percent of companies studied in 2010 recorded a goodwill impairment loss compared to approximately 12 percent in 2009.

Annual goodwill impairment trend

Industry highlights Our study shows that in 2010 the hardest hit industries in terms of actual dollar impairment losses were diversified financials, which accounted for almost 36 percent of the total goodwill impairment losses, followed by telecommunication services, and energy, which accounted for 12 percent and 10 percent, respectively.

Technology hardware and equipment companies registered the highest goodwill impairment losses in KPMG's 2009 study2 at almost 23 percent. This year, technology hardware and equipment companies represented less than 1 percent of total impairment losses. Overall, goodwill impairment losses for these technology hardware and equipment companies decreased by more than 95 percent in 2010.

Goodwill impairment losses for the materials, capital goods, and energy industries also decreased significantly from 2009 to 2010. The automobile and automotive component industry as well as the retailing industry saw the greatest percentage declines in goodwill impairment losses, with no companies in either of these industries in our study recording a goodwill impairment loss.

Similar to our previous studies on goodwill impairment, losses were spread across a number of industries. In 2010, the hardest hit industries in terms of the number of companies recording goodwill impairment charges as a percentage of industry participants analyzed were:

Consumer durables 16 percent Diversified financials 12 percent Media 12 percent Food and staples retailing 10 percent Banks 10 percent

It should be noted as well that the median goodwill impairment loss for the companies included in KPMG's analysis also declined between 2009 and 2010. Due to the generally lower losses recognized across all industries, the median goodwill impairment loss decreased from $97 million in 2009 to $27 million in 2010, a drop of approximately 72 percent.

On average, similar to our 2009 study, goodwill represented less than 5 percent of the total carrying value of assets of the businesses included in the study. This data point seems to support the fact that merger and acquisition activity that would yield goodwill on company balance sheets has not yet returned to prerecession levels. In addition, 2010 impairment losses represented approximately 1 percent of companies' goodwill. Comparatively, in 2009, impairment losses represented approximately 3 percent of goodwill.3

2010 goodwill impairment industry summary4

Concluding thoughts With the improvement in the U.S. economy and stock market since 2009, and the large goodwill write-downs in prior years - particularly in 2008 and 2009 - it appears the retreat in goodwill impairment losses recognized across industries is not an aberration from 2009 but a continuing trend. Similar to our previous study for 2009, higher market valuations stemming from better operating performance in an improving economy contrasted with lower goodwill carrying values are likely to reduce the number of triggering events, amounts, and occurrences of goodwill impairment losses for companies that have goodwill on their balance sheet.

Methodology KPMG's study was based on financial information of 1,879 U.S.-based publicly traded companies across 24 industries, with minimum market capitalization of $500 million, revenues of $500 million, and assets of $300 million. The size of each industry segment ranged from 15 to 179 companies. KPMG's study evaluated goodwill impairment over a sixyear period, on an annual basis.