Claritev CorpCTEV
Claritev Corp Goodwill & Intangibles Disclosure
Goodwill and Other Intangible Assets
Other intangible assets consisted of the following (in thousands):
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||
| Weighted-average amortization period | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | |||||||||||||||||||||||||||||||||||
| Client relationships | 15 years | $ | 4,199,517 | $ | (2,651,110) | $ | 1,548,407 | $ | 4,197,480 | $ | (2,370,865) | $ | 1,826,615 | ||||||||||||||||||||||||||||
| Provider network | 15 years | 896,800 | (571,959) | 324,841 | 896,800 | (512,172) | 384,628 | ||||||||||||||||||||||||||||||||||
| Technology | 6 years | 21,850 | (12,213) | 9,637 | 21,850 | (8,940) | 12,910 | ||||||||||||||||||||||||||||||||||
| Trade names | 9 years | 2,670 | (1,421) | 1,249 | 2,670 | (1,170) | 1,500 | ||||||||||||||||||||||||||||||||||
| Non-compete | 5 years | 1,000 | (530) | 470 | 1,000 | (330) | 670 | ||||||||||||||||||||||||||||||||||
Total Other intangibles | $ | 5,121,837 | $ | (3,237,233) | $ | 1,884,604 | $ | 5,119,800 | $ | (2,893,477) | $ | 2,226,323 | |||||||||||||||||||||||||||||
As of December 31, 2025, the aggregate future amortization expense is as follows (in thousands):
For the years ended December 31, | Client relationships | Provider network | Technology | Trade names | Non-compete | Total | |||||||||||||||||||||||||||||
| 2026 | $ | 281,180 | $ | 59,787 | $ | 2,214 | $ | 251 | $ | 200 | $ | 343,632 | |||||||||||||||||||||||
| 2027 | 281,095 | 59,787 | 2,214 | 251 | 200 | 343,547 | |||||||||||||||||||||||||||||
| 2028 | 280,161 | 59,787 | 2,214 | 251 | 70 | 342,483 | |||||||||||||||||||||||||||||
| 2029 | 280,161 | 59,787 | 2,214 | 251 | — | 342,413 | |||||||||||||||||||||||||||||
| 2030 | 279,754 | 59,787 | 781 | 227 | — | 340,549 | |||||||||||||||||||||||||||||
| Thereafter | 146,056 | 25,906 | — | 18 | — | 171,980 | |||||||||||||||||||||||||||||
Total | $ | 1,548,407 | $ | 324,841 | $ | 9,637 | $ | 1,249 | $ | 470 | $ | 1,884,604 | |||||||||||||||||||||||
Goodwill was as follows (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
Balance as of January 1, | $ | 2,403,140 | $ | 3,829,002 | $ | 3,705,199 | |||||||||||
Goodwill from acquisition | 2,713 | — | 124,158 | ||||||||||||||
| — | (1,425,862) | — | |||||||||||||||
Purchase price adjustment | — | — | (355) | ||||||||||||||
Balance as of December 31, | $ | 2,405,853 | $ | 2,403,140 | $ | 3,829,002 | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||
| Gross Goodwill | $ | 4,489,636 | $ | 4,486,923 | |||||||
| Accumulated impairment | (2,083,783) | (2,083,783) | |||||||||
| Total Goodwill | $ | 2,405,853 | $ | 2,403,140 | |||||||
The Company identified one reporting unit for the purpose of goodwill impairment testing and performed a qualitative test for goodwill impairment of the one reporting unit during the fourth quarter. Based on the results of qualitative impairment assessment performed in the fourth quarter of 2025. The Company determined that it was more likely than not that the fair value of the reporting unit with goodwill was greater than their respective carrying values and no impairment loss related to goodwill was recorded during the year ended December 31, 2025.
During the year ended December 31, 2024, $1,425.9 million impairment loss related to goodwill and $8.5 million related to indefinite-lived intangible assets, respectively, were recorded due to significant decline in our stock price and market capitalization and/or revised forecasts represented triggering events. During the third and fourth quarter of December 31, 2024, the Company committed to the Company-wide rebranding that culminated in the change of the Company’s corporate name to Claritev Corporation on February 17, 2025. As a result of this initiative, it was expected that certain of the Company’s brand names and related trademarks would cease to be used, resulting in impairment loss to intangible assets of $54.5 million that was included in in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2024.
For each quantitative impairment test of goodwill performed in the year ended December 31, 2024, we calculate the estimated enterprise fair value of the reporting unit using (i) a discounted cash flow analysis, (ii) forecasted EBITDA trading multiples for comparable publicly traded companies and (iii) historical EBITDA multiples for comparable acquisitions, giving equal weight to the three approaches. Assumptions used in the discounted cash flow analysis include forecasted revenues, forecasted expenses, the terminal growth rate and the discount rate. The fair value measurements are based on significant unobservable inputs and thus represent Level 3 inputs. If business conditions or expectations were to change materially, it may be necessary to record further impairment charges in the future.
No impairment loss related to goodwill or indefinite-lived intangible assets was recorded during the year ended December 31, 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 16, 2021 | |
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.