Starwood 2009 Annual Report Download - page 95

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impaired and were written down to their fair value, resulting in a primarily non-cash pre-tax impairment charge of
$255 million. Additionally, in connection with this review of the business, we made a decision to reduce the pricing
of certain inventory at existing projects, resulting in a pre-tax charge of $17 million. As a result of these decisions
and future plans for the vacation ownership business, we recorded a $90 million non-cash charge for the impairment
of goodwill associated with the vacation ownership reporting unit.
Item 3. Legal Proceedings.
Incorporated by reference to the description of legal proceedings in Note 24. Commitments and Contingencies,
in the consolidated financial statements set forth in Part II, Item 8. Financial Statements and Supplementary Data.
Item 4. Submission of Matters to a Vote of Security Holders.
Not applicable.
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