Mission Produce, Inc.AVO

Mission Produce, Inc. Goodwill & Intangibles Disclosure

10-KFiled Dec 18, 20251 min read
Goodwill
Changes (if any) in the net carrying amount of goodwill by reportable segment were as follows:

(In millions)International FarmingBlueberriesTotal
Goodwill as of October 31, 2025, 2024 and 2023$26.9 $12.5 $39.4 
The carrying amounts of goodwill as of October 31, 2025 and 2024 were net of accumulated impairment losses of $49.5 million, attributable to the International Farming segment. Accumulated impairment losses were recognized in the year ended October 31, 2022.
For the years ended October 31, 2025 and 2024, management performed its annual goodwill impairment tests of its two reporting units, which indicated that is more-likely-than-not that the fair value of the reporting units exceed their carrying values as of October 31, 2025 and 2024. For our reporting unit within the Blueberries segment, we performed a Step 0 qualitative analysis. For our reporting unit within the International Farming segment, we elected to use a quantitative approach to determine its fair value based on the DCF and GPC methods. The fair value determination using the DCF method requires management to make significant estimates and assumptions related to forecasts of future revenues; earnings before interest, taxes, depreciation, and amortization (EBITDA); and the discount rate. The determination of the fair value using the GPC method requires management to make significant assumptions related to marketplace EBITDA multiples from within a peer public company group.
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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.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&ELeasesSegmentsDebtCommitmentsNew Standards