Yahoo! (NASDAQ: YHOO) disclosed it recorded a $4,461 million non-cash goodwill impairment charge as a result of annual goodwill impairment test conducted in the fourth quarter of 2015.

"We concluded that the carrying value of our U.S. & Canada, Europe, Latin America and Tumblr reporting units exceeded their respective estimated fair values. The goodwill impairment resulted from a combination of factors, including decreases in our market capitalization, projected operating results and estimated future cash flows."

In 2013, Yahoo! acquired Tumblr for $1.1 billion.