C. H. ROBINSON WORLDWIDE, INC.CHRW

C. H. ROBINSON WORLDWIDE, INC. Goodwill & Intangibles Disclosure

10-KFiled Feb 13, 20263 min read
GOODWILL AND OTHER INTANGIBLE ASSETS
The change in the carrying amount of goodwill is as follows (in thousands):
NASTGlobal ForwardingAll Other and CorporateTotal
December 31, 2023 balance $1,188,813 $207,599 $77,188 $1,473,600 
Foreign currency translation(9,369)(5,101)(1,571)(16,041)
December 31, 2024 balance(1)
1,179,444 202,498 75,617 1,457,559 
Acquisitions14,259 — — 14,259 
Divestitures(2)
— — (28,697)(28,697)
Foreign currency translation8,390 5,974 491 14,855 
December 31, 2025 balance$1,202,093 $208,472 $47,411 $1,457,976 
_________________________________________
(1) Includes $28.6 million of goodwill for the Europe Surface Transportation disposal group, which is presented within assets held for sale on the consolidated balance sheets. Refer to Note 15, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business.
(2) On February 1, 2025, the Company completed the sale of our Europe Surface Transportation business. In connection with the sale, we disposed of goodwill included in the Europe Surface Transportation disposal group. Refer to Note 15, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business.
Goodwill is tested at least annually for impairment on November 30, or more frequently if events or changes in circumstances indicate the asset might be impaired. We first perform a qualitative assessment to determine whether it is more likely than not the fair value of our reporting units is less than their respective carrying value (“Step Zero Analysis”). If the Step Zero Analysis indicates it is more likely than not the fair value of our reporting units is less than their respective carrying value, an additional impairment assessment is performed (“Step One Analysis”).
As part of our annual Step Zero Analysis performed in 2025, there were no factors identified suggesting that it was more likely than not that the fair value was less than their respective carrying value. As such, a Step One Analysis was not completed and no impairment has been recorded in any previous or current period presented.
Identifiable intangible assets consisted of the following as of December 31 (in thousands): 
20252024
CostAccumulated AmortizationNetCostAccumulated AmortizationNet
Finite-lived intangibles
Customer relationships(1)
$72,109 $(62,535)$9,574 $78,280 $(55,984)$22,296 
Indefinite-lived intangibles
Trademarks8,600 — 8,600 8,600 — 8,600 
Total intangibles(1)
$80,709 $(62,535)$18,174 $86,880 $(55,984)$30,896 
_________________________________________
(1) Amounts as of December 31, 2024, include $2.7 million of net intangible assets for the Europe Surface Transportation disposal group, which is presented within assets held for sale on the consolidated balance sheets. Refer to Note 15, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business.
Amortization expense for other intangible assets was (in thousands): 
2025$10,251 
202412,161 
202320,613 
Finite-lived intangible assets, by reportable segment, as of December 31, 2025, will be amortized over their remaining lives as follows (in thousands):
NASTGlobal ForwardingTotal
2026$7,857 $407 $8,264 
20271,310 — 1,310 
Total$9,574 

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 17, 2023
2021Feb 23, 2022
2020Feb 19, 2021
2019Feb 19, 2020
2018Feb 25, 2019
2017Feb 28, 2018
2016Mar 1, 2017
2015Feb 29, 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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