Verb
reduce the estimated value of something by the amount of an expense or loss
written off
British Petroleum faces huge penalties that may reach $18 billion for violations of the Clean Water Act. BP has already written off the cost of its cleanup effort after the spill, but penalties aren't tax deductible.
British Petroleum faces huge penalties that may reach $18 billion for violations of the Clean Water Act. BP has already written off the cost of its cleanup effort after the spill, but penalties aren't tax deductible.