This week we continue our impairment toolkit series, focusing on long-lived assets.
In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations.
In this episode, Heather Horn was joined by PwC National Office partner Matt Sabatini and PwC managing director Adam Smith to discuss another common area for impairment questions: long-lived assets.
In this episode, you will hear them discuss:
  • 1:20 - An overview of the impairment model for long-lived assets
  • 7:53 - How to identify an asset group when performing an impairment test on assets to be held and used
  • 11:58 - Types of impairment triggers and the two-step impairment test for assets to be held and used
  • 31:42 - Right-of-use asset impairment considerations
  • 33:14 - Impairment accounting under the held-for-sale model
  • 36:44 - Key reminders for companies assessing the potential impairment of long-lived assets
Want to learn more? Listen to other episodes in our impairment toolkit series on inventory and other current assets and financial instruments, along with previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions.
About our guests
Adam Smith is a managing director at PwC with over 20 years of valuation experience. His experience includes performing valuations of businesses, business interests, intangible assets, and derivatives. Adam’s valuation specialization supports a wide range of purposes, including financial reporting, litigation support, corporate planning and consulting, and mergers and acquisitions.
Matt Sabatini is a partner in PwC's National Office with over 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments.
About our host
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to
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