DowDuPont shares fell more than 6 percent during after-hours trading Thursday as the company faces a $4.6 billion impairment charge.
The chemical company’s $4.6 billion charge is related to goodwill and other assets of its agriculture reporting unit, according to the SEC filing. This occurred at the time of the merger between The Dow Chemical Company and E.I. du Pont de Nemours in 2017.
DowDuPont’s analysis showed that its agriculture reporting unit would not meet its cash-flow projections. The company faces headwinds as decreases in commodity prices and higher-than-anticipated industry grain inventories are expected to impact farmers’ income.
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