CASELLA WASTE SYSTEMS INC Goodwill & Intangibles Disclosure
| December 31, 2024 (1) | Acquisitions | Business Combination Adjustments | December 31, 2025 | ||||||||||||||||||||
| Eastern | $ | 89,544 | $ | 20,989 | $ | — | $ | 110,533 | |||||||||||||||
| Western | 357,143 | 11,437 | 2,455 | 371,035 | |||||||||||||||||||
Mid-Atlantic | 510,917 | 74,037 | (818) | 584,136 | |||||||||||||||||||
| Resource Solutions | 44,662 | 9,690 | — | 54,352 | |||||||||||||||||||
| Total | $ | 1,002,266 | $ | 116,153 | $ | 1,637 | $ | 1,120,056 | |||||||||||||||
| December 31, 2023 (1) | Acquisitions | Business Combination Adjustments | December 31, 2024 (1) | ||||||||||||||||||||
| Eastern | $ | 88,865 | $ | 774 | $ | (95) | $ | 89,544 | |||||||||||||||
| Western | 263,519 | 92,825 | 799 | 357,143 | |||||||||||||||||||
Mid-Atlantic | 338,812 | 171,159 | 946 | 510,917 | |||||||||||||||||||
| Resource Solutions | 44,474 | — | 188 | 44,662 | |||||||||||||||||||
| Total | $ | 735,670 | $ | 264,758 | $ | 1,838 | $ | 1,002,266 | |||||||||||||||
| Covenants Not-to-Compete | Customer Relationships | Trade Names | Total | ||||||||||||||||||||
| Balance, December 31, 2025 | |||||||||||||||||||||||
| Intangible assets | $ | 74,892 | $ | 427,625 | $ | 26,309 | $ | 528,826 | |||||||||||||||
| Less accumulated amortization | (43,041) | (176,824) | (18,106) | (237,971) | |||||||||||||||||||
| $ | 31,851 | $ | 250,801 | $ | 8,203 | $ | 290,855 | ||||||||||||||||
| Covenants Not-to-Compete | Customer Relationships | Trade Names | Total | ||||||||||||||||||||
| Balance, December 31, 2024 | |||||||||||||||||||||||
| Intangible assets | $ | 71,568 | $ | 377,600 | $ | 25,795 | $ | 474,963 | |||||||||||||||
| Less accumulated amortization | (34,398) | (115,305) | (11,792) | (161,495) | |||||||||||||||||||
| $ | 37,170 | $ | 262,295 | $ | 14,003 | $ | 313,468 | ||||||||||||||||
| Fiscal year ending December 31, 2026 | $ | 69,915 | |||
| Fiscal year ending December 31, 2027 | $ | 61,055 | |||
| Fiscal year ending December 31, 2028 | $ | 51,961 | |||
| Fiscal year ending December 31, 2029 | $ | 40,160 | |||
| Fiscal year ending December 31, 2030 | $ | 28,533 | |||
| Thereafter | $ | 39,231 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Mar 2, 2018 | |
| 2016 | Mar 2, 2017 | |
| 2015 | Mar 2, 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.