APOGEE ENTERPRISES, INC. Goodwill & Intangibles Disclosure
| (In thousands) | Architectural Metals | Architectural Services | Architectural Glass | Performance Surfaces | Total | |||||||||||||||||||||||||||
| Balance at March 2, 2024 | $ | 90,186 | $ | 3,038 | $ | 25,401 | $ | 10,557 | $ | 129,182 | ||||||||||||||||||||||
| Foreign currency translation | (852) | (117) | (264) | — | (1,233) | |||||||||||||||||||||||||||
| Goodwill acquired | — | — | — | 107,826 | 107,826 | |||||||||||||||||||||||||||
| Balance at March 1, 2025 | 89,334 | 2,921 | 25,137 | 118,383 | 235,775 | |||||||||||||||||||||||||||
| Foreign currency translation | 754 | 103 | 112 | — | 969 | |||||||||||||||||||||||||||
| Balance at February 28, 2026 | $ | 90,088 | $ | 3,024 | $ | 25,249 | $ | 118,383 | $ | 236,744 | ||||||||||||||||||||||
| (In thousands) | Gross Carrying Amount | Accumulated Amortization | Foreign Currency Translation | Net | ||||||||||||||||||||||||||||
| February 28, 2026 | ||||||||||||||||||||||||||||||||
Definite-lived intangible assets: | ||||||||||||||||||||||||||||||||
| Customer relationships | $ | 131,746 | $ | (64,698) | $ | (4,994) | $ | 2,138 | $ | 64,192 | ||||||||||||||||||||||
| Other intangibles | 65,807 | (36,286) | (2,589) | 940 | 27,872 | |||||||||||||||||||||||||||
Total | 197,553 | (100,984) | (7,583) | 3,078 | 92,064 | |||||||||||||||||||||||||||
| Indefinite-lived intangible assets: | ||||||||||||||||||||||||||||||||
Trademarks | 18,996 | — | 201 | 19,197 | ||||||||||||||||||||||||||||
| Total intangible assets | $ | 216,549 | $ | (100,984) | $ | (7,583) | $ | 3,279 | $ | 111,261 | ||||||||||||||||||||||
| March 1, 2025 | ||||||||||||||||||||||||||||||||
| Definite-lived intangible assets: | ||||||||||||||||||||||||||||||||
| Customer relationships | $ | 134,402 | $ | (56,193) | $ | — | $ | (2,655) | $ | 75,554 | ||||||||||||||||||||||
| Other intangibles | 66,832 | (31,768) | — | (1,197) | 33,867 | |||||||||||||||||||||||||||
Total | 201,234 | (87,961) | — | (3,852) | 109,421 | |||||||||||||||||||||||||||
| Indefinite-lived intangible assets: | ||||||||||||||||||||||||||||||||
Trademarks | 26,865 | — | (7,634) | (235) | 18,996 | |||||||||||||||||||||||||||
| Total intangible assets | $ | 228,099 | $ | (87,961) | $ | (7,634) | $ | (4,087) | $ | 128,417 | ||||||||||||||||||||||
| (In thousands) | 2027 | 2028 | 2029 | 2030 | 2031 | |||||||||||||||||||||||||||
| Estimated amortization expense | $ | 6,755 | $ | 6,461 | $ | 5,590 | $ | 5,552 | $ | 5,552 | ||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 24, 2026 | Showing above |
| 2025 | Apr 24, 2025 | |
| 2024 | Apr 26, 2024 | |
| 2023 | Apr 21, 2023 | |
| 2022 | Apr 22, 2022 | |
| 2021 | Apr 22, 2021 | |
| 2020 | Apr 24, 2020 | |
| 2019 | Apr 26, 2019 | |
| 2018 | Apr 30, 2018 | |
| 2017 | Apr 28, 2017 | |
| 2016 | Apr 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.