ALTA EQUIPMENT GROUP INC. Goodwill & Intangibles Disclosure
NOTE 7 — GOODWILL AND OTHER INTANGIBLE ASSETS
The following table summarizes the changes in the carrying value of goodwill in total and by reportable segment during the years ended December 31, 2025 and 2024:
|
Material |
|
|
Construction |
|
|
Master Distribution |
|
|
Total |
|
||||
Balance, December 31, 2023 |
$ |
15.0 |
|
|
$ |
43.4 |
|
|
$ |
18.3 |
|
|
$ |
76.7 |
|
Adjustments to purchase price allocations |
|
— |
|
|
|
1.4 |
|
|
|
— |
|
|
|
1.4 |
|
Translation adjustments |
|
(0.3 |
) |
|
|
(0.3 |
) |
|
|
— |
|
|
|
(0.6 |
) |
Balance, December 31, 2024 |
$ |
14.7 |
|
|
$ |
44.5 |
|
|
$ |
18.3 |
|
|
$ |
77.5 |
|
Additions |
|
1.0 |
|
|
|
— |
|
|
|
— |
|
|
|
1.0 |
|
Divestitures |
|
(1.2 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1.2 |
) |
Translation adjustments |
|
0.2 |
|
|
|
0.3 |
|
|
|
— |
|
|
|
0.5 |
|
Balance, December 31, 2025 |
$ |
14.7 |
|
|
$ |
44.8 |
|
|
$ |
18.3 |
|
|
$ |
77.8 |
|
The Company reviewed our goodwill for impairment and determined that none of the goodwill was impaired during the years ended December 31, 2025, 2024 and 2023. See Note 2, Summary of Significant Accounting Policies, for more information on the impairment testing.
Other intangible assets, net consisted of the following:
|
December 31, 2025 |
|
|||||||||||||
|
Weighted Average Remaining Life (in years) |
|
|
Gross carrying |
|
|
Accumulated |
|
|
Net carrying |
|
||||
Customer and supplier relationships |
|
5.6 |
|
|
$ |
72.9 |
|
|
$ |
(31.9 |
) |
|
$ |
41.0 |
|
Other intangibles |
|
3.0 |
|
|
|
17.7 |
|
|
|
(10.7 |
) |
|
|
7.0 |
|
Total |
|
5.0 |
|
|
$ |
90.6 |
|
|
$ |
(42.6 |
) |
|
$ |
48.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
December 31, 2024 |
|
|||||||||||||
|
Weighted Average Remaining Life (in years) |
|
|
Gross carrying |
|
|
Accumulated |
|
|
Net carrying |
|
||||
Customer and supplier relationships |
|
6.6 |
|
|
$ |
72.4 |
|
|
$ |
(24.3 |
) |
|
$ |
48.1 |
|
Other intangibles |
|
3.0 |
|
|
|
14.3 |
|
|
|
(7.7 |
) |
|
|
6.6 |
|
Total |
|
6.1 |
|
|
$ |
86.7 |
|
|
$ |
(32.0 |
) |
|
$ |
54.7 |
|
Amortization of intangible assets was $10.3 million, $10.1 million, and $8.9 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The Company reviewed our finite-lived intangible assets for impairment and determined that none of the assets were impaired during the years ended December 31, 2025, 2024 and 2023. See Note 2, Summary of Significant Accounting Policies, for more information on the impairment testing.
As of December 31, 2025, estimated amortization expense for intangible assets for each of the next five years and thereafter was as follows:
Years ending December 31, |
Amount |
|
|
2026 |
$ |
10.4 |
|
2027 |
|
9.7 |
|
2028 |
|
8.9 |
|
2029 |
|
7.7 |
|
2030 |
|
5.9 |
|
Thereafter |
|
5.4 |
|
Total |
$ |
48.0 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 5, 2025 | |
| 2023 | Mar 14, 2024 | |
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.