ACCENDRA HEALTH INC/VA/ Goodwill & Intangibles Disclosure
Note 5—Goodwill and Intangible Assets, Net
At December 31, 2025 and 2024 we had goodwill of $1.2 billion, net of accumulated goodwill impairment of $307 million.
As of October 1, 2025, we performed our annual impairment test and there were no impairments of goodwill. No impairment of goodwill was recorded for the year ended December 31, 2025 within continuing operations.
Intangible assets subject to amortization, at December 31, 2025 and 2024 were as follows:
2025 | 2024 | |||||||||||||||||
Customer | | | Other | | Customer | | | Other | ||||||||||
Relationships | Tradenames | Intangibles | Relationships | Tradenames | Intangibles | |||||||||||||
Intangible assets, gross | $ | 132,300 | $ | 143,000 | $ | 38,000 | $ | 132,300 | $ | 143,000 | $ | 38,000 | ||||||
Accumulated amortization |
| (76,472) |
| (71,081) |
| (29,282) |
| (24,326) |
| (56,437) |
| (22,481) | ||||||
Intangible assets, net | $ | 55,828 | $ | 71,919 | $ | 8,718 | $ | 107,974 | $ | 86,563 | $ | 15,519 | ||||||
Weighted average useful life |
| 6 years |
| 10 years |
| 6 years |
| 15 years |
| 10 years |
| 6 years | ||||||
Amortization expense for intangible assets was $74 million, $40 million and $58 million for the years ended December 31, 2025, 2024, and 2023. The increase as compared to the prior year was driven by the remaining useful life for an intangible asset being modified as of June 30, 2025, as a result of a notice of a contract termination with a commercial Payor. The updated future intangible amortization is reflected in the table below.
As of December 31, 2025, based on the current carrying value of intangible assets subject to amortization and expected remaining useful life, estimated amortization expense were as follows:
Year | | ||
2026 | $ | 68,122 | |
2027 |
| 13,872 | |
2028 |
| 11,953 | |
2029 |
| 11,953 | |
2030 |
| 11,953 | |
Thereafter | 18,612 | ||
Total future amortization | $ | 136,465 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 20, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Mar 4, 2020 | |
| 2018 | Mar 6, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 25, 2016 | |
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.