Molina Healthcare said in a Dec. 28 SEC filing that it will record a $200 million impairment charge in the fourth quarter of 2022 attributable to leased space.
The charge is a result of the insurer's plan to reduce its real estate footprint to accommodate its shift to a permanent remote work environment, according to the filing.
The charge will be recorded outside of adjusted net income, according to the filing. The company is expecting a significant decrease in leased real estate expenses moving forward.