Paul, the CFO/COO, stated at the last CC, I believe, that ALU regularly evaluates their balance sheet/state of the business for possible non-cash write-downs/goodwill.
During 4Q, ALU determined that it was appropriate to take a $1.4B non-cash charge, which was undoubtedly based significantly upon expected restructuring actions or outcomes relating to the current "performance plan".
At the time of the non-cash charge, senior management knew that Ben was history. So that fact represented an ideal opportunity to clear clutter from the balance sheet. Also I am also quite sure that the company wanted to take whatever charges it deems appropriate ALL AT ONCE. There is no point in taking a non-cash charge in 4Q12, then another non-cash charge in 1Q13, and then still another charge in 2Q13, etc.
So unless Michel takes the company in a dramatically different direction, or has a much more extensive restructuring plan that would result in a need for more non-cash charges...WHICH IS POSSIBLE....it is unlikely we will see more such charges for quite some time.
It is counterproductive to announce a steady stream of non-cash charges...Q after Q.
Rumor, I'm certainly not going to complain if you are right. I guess we'll have to wait and see but my bet is they will find more write downs. I'll be listening closely during the CC and are more interested in the words of our new CEO and how he paints the future.