Amphastar Pharmaceuticals, Inc. Goodwill & Intangibles Disclosure
Note 9. Goodwill and Intangible Assets
The table below shows the weighted-average life, original cost, accumulated amortization, and net book value by major intangible asset classification:
Weighted-Average | Accumulated | ||||||||||
| Life (Years) | | Original Cost | | Amortization | | Net Book Value | ||||
(in thousands) | |||||||||||
Definite-lived intangible assets | |||||||||||
BAQSIMI® product rights | 24 | $ | 591,338 | $ | 61,597 | $ | 529,741 | ||||
Land-use rights |
| 39 |
| 2,540 | 947 |
| 1,593 | ||||
Other intangibles | 7 |
| 2,443 | 439 |
| 2,004 | |||||
Subtotal |
| 24 |
| 596,321 |
| 62,983 |
| 533,338 | |||
Indefinite-lived intangible assets | |||||||||||
Trademark |
| * |
| 29,225 | — |
| 29,225 | ||||
Goodwill |
| * |
| 3,402 | — |
| 3,402 | ||||
Subtotal |
| * |
| 32,627 |
| — |
| 32,627 | |||
As of December 31, 2025 |
| * | $ | 628,948 | $ | 62,983 | $ | 565,965 | |||
Weighted-Average | Accumulated | ||||||||||
| Life (Years) | | Original Cost | | Amortization | | Net Book Value | ||||
(in thousands) | |||||||||||
Definite-lived intangible assets | |||||||||||
BAQSIMI® product rights | 24 | $ | 591,338 | $ | 36,958 | $ | 554,380 | ||||
Land-use rights |
| 39 |
| 2,540 | 881 |
| 1,659 | ||||
Other intangibles |
| 7 |
| 2,443 | 96 |
| 2,347 | ||||
Subtotal |
| 24 |
| 596,321 |
| 37,935 |
| 558,386 | |||
Indefinite-lived intangible assets | |||||||||||
Trademark |
| * |
| 29,225 |
| — |
| 29,225 | |||
Goodwill |
| * |
| 3,049 |
| — |
| 3,049 | |||
Subtotal |
| * |
| 32,274 |
| — |
| 32,274 | |||
As of December 31, 2024 |
| * | $ | 628,595 | $ | 37,935 | $ | 590,660 | |||
* | Intangible assets with indefinite lives have an indeterminable average life. |
Goodwill
The changes in the carrying amounts of goodwill are as follows:
December 31, |
| |||||
2025 | 2024 |
| ||||
(in thousands) |
| |||||
Beginning balance | $ | 3,049 | | $ | 3,216 | |
Currency translation |
| 353 |
| (167) | ||
Ending balance | $ | 3,402 | $ | 3,049 | ||
Amortization
Included in cost of revenues for the years ended December 31, 2025, 2024, and 2023 is product rights amortization expense of $25.0 million, $24.7 million, and $15.5 million, respectively.
As of December 31, 2025, the expected amortization expense for all amortizable intangible assets during the next five fiscal years ending December 31 and thereafter is as follows:
| (in thousands) | ||
2026 | $ | 25,078 | |
2027 |
| 25,078 | |
2028 |
| 25,078 | |
2029 |
| 25,078 | |
2030 |
| 25,078 | |
Thereafter |
| 407,948 | |
Total amortizable intangible assets |
| 533,338 | |
Indefinite-lived intangibles |
| 32,627 | |
Total intangibles (net of accumulated amortization) | $ | 565,965 | |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
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.