The Company recorded net impairment provisions of $3.2 million during Q2 2010 compared to $2.0 million in Q2 2009. The provisions in Q2 2010 were recorded primarily to reflect changes in management's estimates as to the timing and amount of projected future collections and declines in domestic real estate values. The global distribution of Q2 2010 net impairment provisions included $2.3 million for domestic assets, $0.2 million related to Latin American assets, and $0.7 million related to European assets. Net provisions in Q2 2010 were split between consolidated assets ($2.6 million) and FirstCity's share of net provisions from unconsolidated subsidiaries ($0.6 million).The Company's share of foreign currency transaction losses from its consolidated and unconsolidated foreign operations was $0.6 million for Q2 2010, compared to $2.2 million of foreign currency transaction gains for the same period in 2009.
FirstCity Financial Corporation Reports Second Quarter 2010 Results
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