MOLINA HEALTHCARE, INC. (MOH): restructuring charge — Molina Healthcare to record ~$200M impairment charge on leased space due to remote work shift

MOLINA HEALTHCARE, INC.

Non-cash, pre-tax impairment charge of ~$200M in Q4 2022 from plan to reduce real estate footprint.
Charge results from move to permanent remote work environment; recorded outside adjusted net income.
Company expects significant decrease in going-forward leased real estate expense.
Impairment attributable to leased space; no other asset classes mentioned.

item 2.06

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

MOLINA HEALTHCARE, INC. announced a impairment with charges of approximately $200 million affecting leased space.

Type: impairment
Charge: approximately $200 million
Affected area: leased space

Exact text from the filing

On December 28, 2022, Molina Healthcare, Inc. (the “Company”) concluded that it will record in the fourth quarter of 2022 an estimated non-cash, pre-tax impairment charge of approximately $200 million, attributable to leased space.

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MOLINA HEALTHCARE, INC. filing history →

Source: SEC EDGAR

accession 0001157523-22-001798

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