Sprint write-offs could hit $31 billion

RESTON, Va., Jan. 31 (UPI) -- Sprint Nextel Corp. warned investors Thursday of a multibillion write-off that could be as high as $31 billion.

The company didn't give the amount but said it could, "represent a substantial portion, and potentially all," of the $31 billion on the books in the company's "goodwill" column, which represents the difference between the purchase price and actual value of acquisitions the company has made.

Sprint Nextel will provide figures at the end of February with its fourth quarter financial statements, The Kansas City (Mo.) Star reported.

Sprint Corp. purchased Nextel Communications in 2005.