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This is standard jargon for investors. The charge is to the company and a hit directly to their earnings.

Similar wording can also be used with respect to debt that will never be collected.

https://en.wikipedia.org/wiki/Charge-off

Thanks for info on the jargon. I assumed it was, however I also assume there are many like me initially confused by the term without knowledge of how that term is used in that space.

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