AGILENT TECHNOLOGIES, INC.A
AGILENT TECHNOLOGIES, INC. Goodwill & Intangibles Disclosure
GOODWILL AND OTHER INTANGIBLE ASSETS
The following table presents goodwill balances and the movements for each of our reportable segments during the years ended October 31, 2024 and 2025:
| Life Sciences and Diagnostics Markets | Agilent Crosslab | Applied Markets | Total | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Goodwill as of October 31, 2023 | $ | 2,489 | $ | 1,166 | $ | 305 | $ | 3,960 | |||||||||||||||
| Foreign currency translation impact | (15) | 2 | 4 | (9) | |||||||||||||||||||
| Goodwill arising from acquisitions and adjustments | 526 | — | — | 526 | |||||||||||||||||||
| Goodwill as of October 31, 2024 | $ | 3,000 | $ | 1,168 | $ | 309 | $ | 4,477 | |||||||||||||||
| Foreign currency translation impact | 1 | — | — | 1 | |||||||||||||||||||
| Goodwill arising from acquisitions and adjustments | (5) | — | — | (5) | |||||||||||||||||||
| Goodwill as of October 31, 2025 | $ | 2,996 | $ | 1,168 | $ | 309 | $ | 4,473 | |||||||||||||||
In the first quarter of fiscal year 2025, we reorganized our operating segments; see Note 22, "Segment Information" for additional information about our segment reorganization. As a result, we used the relative fair value allocation approach to reassign approximately $1.274 billion of goodwill from our Applied Markets segment (formerly our Life Sciences and Applied Markets segment) to our Agilent CrossLab and Life Sciences and Diagnostics Markets segments. Of the $1.274 billion goodwill reallocated, $365 million was reassigned to Life Sciences and Diagnostics Markets segment and $909 million was reassigned to Agilent CrossLab segment. Goodwill balances as of October 31, 2023 and 2024, have been recast to conform to this new presentation. As a result of the reorganization, our reporting units are: Life Sciences and Diagnostics Markets, Agilent CrossLab and Applied Markets segments. In addition, we performed a goodwill impairment test as of November 1, 2024, and the results of the analysis indicated that the fair values for all three of our reporting units were in excess of their carrying values by substantial amounts; therefore, no impairment was indicated.
As of September 30, 2025, our annual impairment test date, we assessed goodwill for our reporting units, and no impairment of goodwill was indicated. There was no impairment of goodwill in fiscal years 2024 and 2023.
The component parts of other intangible assets at October 31, 2024 and 2025 are shown in the table below:
| Other Intangible Assets | |||||||||||||||||
| Gross Carrying Amount | Accumulated Amortization | Net Book Value | |||||||||||||||
| (in millions) | |||||||||||||||||
| As of October 31, 2024: | |||||||||||||||||
| Purchased technology | $ | 1,484 | $ | 1,169 | $ | 315 | |||||||||||
| Backlog | 9 | — | 9 | ||||||||||||||
| Trademark/Trade name | 199 | 174 | 25 | ||||||||||||||
| Customer relationships | 291 | 107 | 184 | ||||||||||||||
| Third-party technology and licenses | 33 | 19 | 14 | ||||||||||||||
| Total amortizable intangible assets | $ | 2,016 | $ | 1,469 | $ | 547 | |||||||||||
| As of October 31, 2025: | |||||||||||||||||
| Purchased technology | $ | 1,484 | $ | 1,235 | $ | 249 | |||||||||||
| Backlog | 9 | 2 | 7 | ||||||||||||||
| Trademark/Trade name | 199 | 181 | 18 | ||||||||||||||
| Customer relationships | 289 | 129 | 160 | ||||||||||||||
| Third-party technology and licenses | 34 | 23 | 11 | ||||||||||||||
| Total amortizable intangible assets | $ | 2,015 | $ | 1,570 | $ | 445 | |||||||||||
In fiscal year 2025, we recorded measurement period adjustments to decrease goodwill by $5 million primarily to reduce other liabilities and to increase other intangible assets by $2 million related to our acquisition of BIOVECTRA. During fiscal year 2025, we purchased $1 million of third-party technology and licenses. During fiscal year 2025, there was no change in other intangible assets due to the impact of foreign currency translation. During 2025, we also wrote-off the gross carrying amounts of $4 million and the related accumulated amortization of fully amortized intangible assets which were no longer being used.
In fiscal year 2024, we recorded additions of $526 million to goodwill in our Life Sciences and Diagnostics Markets segment and $188 million to other intangible assets primarily related to our acquisition of BIOVECTRA and another acquisition. As of October 31, 2024, gross carrying amount of customer relationships includes approximately $165 million related to BIOVECTRA which was valued using the multi-period excess earnings method under the income approach which values the customer relationships by discounting the direct cash flow expected to be generated by the customers.
During fiscal year 2024, other intangible assets in total decreased $5 million due to the impact of foreign currency translation. During 2024, we also wrote-off the gross carrying amounts of $18 million and the related accumulated amortization of fully amortized intangible assets which were no longer being used.
In general, for United States federal tax purposes, goodwill from asset purchases is amortizable; however, any goodwill created as part of a stock acquisition is not deductible.
During both fiscal years 2025 and 2023, there were no impairments of indefinite-lived intangible assets. During fiscal year 2024, we recorded an impairment of in-process research and development of $6 million in research and development in the consolidated statement of operations related to a project in our Applied Markets segment.
During fiscal years 2025 and 2024, there were no impairments of finite-lived intangible assets recorded. During the third quarter of fiscal year 2023, we recorded an impairment of finite-lived intangible assets of $258 million related to the exit of our Resolution Bioscience business in our Life Sciences and Diagnostics Markets segment. Of the $258 million, $249 million was recorded in and $9 million was recorded in on our consolidated statement of operations.
Amortization expense of intangible assets was $105 million in 2025, $105 million in 2024, and $140 million in 2023.
Future amortization expense related to existing finite-lived purchased intangible assets associated with business combinations for the next five fiscal years and thereafter is estimated below:
| Estimated future amortization expense: | |||||
| (in millions) | |||||
| 2026 | $ | 75 | |||
| 2027 | $ | 72 | |||
| 2028 | $ | 65 | |||
| 2029 | $ | 61 | |||
| 2030 | $ | 52 | |||
| Thereafter | $ | 120 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 22, 2025 | Showing above |
| 2024 | Dec 20, 2024 | |
| 2023 | Dec 20, 2023 | |
| 2022 | Dec 21, 2022 | |
| 2021 | Dec 17, 2021 | |
| 2020 | Dec 18, 2020 | |
| 2019 | Dec 19, 2019 | |
| 2018 | Dec 20, 2018 | |
| 2017 | Dec 21, 2017 | |
| 2016 | Dec 20, 2016 | |
| 2015 | Dec 21, 2015 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.