Impaired Asset
An asset with a market value that is worth less than its book value.
Investopedia Commentary
If the sum of all estimated future cash flows is less than the carrying value of the asset, then the asset would be considered impaired and would have to be written down to its fair value.
Related Links
Value By The Book
In Position
See also: Book Value, Impaired Credit, Impairment, Market Value, Price-To-Book Ratio - P/B Ratio