BOISE CASCADE CoBCC

BOISE CASCADE Co Goodwill & Intangibles Disclosure

10-KFiled Feb 24, 20262 min read
Goodwill and Intangible Assets
    Goodwill represents the excess of the purchase price and related costs over the fair value of the net tangible and intangible assets of businesses acquired.

    The carrying amount of our goodwill by segment is as follows:
Building
Materials
Distribution

Wood
Products
Total
(thousands)
Balance at December 31, 2024$45,779 $126,166 $171,945 
Additions (a)13,439 — 13,439 
Balance at December 31, 2025$59,218 $126,166 $185,384 
___________________________________

(a)    Represents goodwill related to the Holden Humphrey Acquisition. For additional information, see Note 6, Acquisitions.

    At December 31, 2025 and 2024, intangible assets represented the values assigned to trade names and trademarks and customer relationships. We maintain trademarks for our manufactured wood products, particularly EWP. Our key registered trademarks are perpetual in duration as long as we continue to timely file all post registration maintenance documents related thereto. These trademarks have indefinite lives, are not amortized, and have a carrying amount of $8.9 million. In addition, we have acquired trade names and customer relationships through acquisitions. In 2025, we acquired customer relationships as part of the Holden Humphrey Acquisition, as discussed in Note 6, Acquisitions. The weighted-average useful life from the date of purchase for trade names is approximately 15 years. The weighted-average useful life from the date of purchase for customer relationships is approximately 11 years. During the years ended December 31, 2025 and 2024, we recognized $20.3 million and $19.8 million, respectively, of amortization expense for intangible assets. Amortization expense for intangible assets is expected to be approximately $20 million per year for the next five years.

    Intangible assets consisted of the following:
December 31, 2025
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
(thousands)
Trade names and trademarks$27,600 $(3,399)$24,201 
Customer relationships204,078 (68,614)135,464 
$231,678 $(72,013)$159,665 
December 31, 2024
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
(thousands)
Trade names and trademarks$27,600 $(2,199)$25,401 
Customer relationships197,100 (49,474)147,626 
$224,700 $(51,673)$173,027 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 20, 2025
2023Feb 20, 2024
2022Feb 21, 2023
2021Feb 22, 2022
2020Feb 22, 2021
2019Feb 24, 2020
2018Feb 26, 2019
2017Feb 26, 2018
2016Feb 24, 2017
2015Feb 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.

Other Available Disclosures

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