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BRIEF-Conduent in discussions with state of New York regarding status and scope of Health Enterprise Platform Project
February 16, 2017 / 10:32 PM / 8 months ago

BRIEF-Conduent in discussions with state of New York regarding status and scope of Health Enterprise Platform Project

Feb 16 (Reuters) - Conduent Inc

* Conduent Inc - In discussions with state of New York regarding status and scope of health enterprise platform project, which evolved to include options to not fully complete project

* Says believes it is probable that it will not fully complete implementation of platform in New York

* Conduent Inc - Determined that it will record a non-cash goodwill impairment charge of approximately $935 million in its commercial sector reporting unit

* Conduent Inc - Charge includes about $115 million for write-off of receivables and other related assets and non-cash impairment charges

* Says remainder of charge expected to be cash outflows in future quarters for wind down and related costs

* Will record a pre-tax charge of about $161 million in its fourth-quarter 2016 results relating to the project

* Conduent Inc - Does not expect to make any current or future cash expenditures as a result of the impairment Source text: [bit.ly/2lcI8lL] Further company coverage:

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