Krispy Kreme, Inc. Goodwill & Intangibles Disclosure
| U.S. | International | Market Development | Total | ||||||||||||||||||||
| Balance as of December 31, 2023 | $ | 677,956 | $ | 294,468 | $ | 129,515 | $ | 1,101,939 | |||||||||||||||
| Acquisitions | 23,603 | 4,270 | (17,736) | 10,137 | |||||||||||||||||||
| Divestiture of Insomnia Cookies | (54,803) | — | — | (54,803) | |||||||||||||||||||
| Foreign currency impact | — | (15,720) | — | (15,720) | |||||||||||||||||||
| Adjustments related to deferred taxes | 6,028 | — | — | 6,028 | |||||||||||||||||||
| Balance as of December 29, 2024 | 652,784 | 283,018 | 111,779 | 1,047,581 | |||||||||||||||||||
| Measurement period adjustments related to fiscal year 2024 acquisitions | (516) | — | — | (516) | |||||||||||||||||||
Goodwill impairment (1) | (270,162) | (85,796) | — | (355,958) | |||||||||||||||||||
| Foreign currency impact | — | 21,157 | — | 21,157 | |||||||||||||||||||
| Balance as of December 28, 2025 | $ | 382,106 | $ | 218,379 | $ | 111,779 | $ | 712,264 | |||||||||||||||
| December 28, 2025 | December 29, 2024 | ||||||||||||||||||||||||||||||||||
| Gross Carrying Amount | Accumulated Amortization | Net Amount | Gross Carrying Amount | Accumulated Amortization | Net Amount | ||||||||||||||||||||||||||||||
| Intangible assets with indefinite lives | |||||||||||||||||||||||||||||||||||
| Trade names and trademarks | $ | 553,400 | $ | — | $ | 553,400 | $ | 553,400 | $ | — | $ | 553,400 | |||||||||||||||||||||||
| Intangible assets with definite lives | |||||||||||||||||||||||||||||||||||
| Franchise agreements | 27,154 | (12,363) | 14,791 | 27,154 | (11,050) | 16,104 | |||||||||||||||||||||||||||||
| Customer relationships | 15,000 | (8,142) | 6,858 | 15,000 | (7,277) | 7,723 | |||||||||||||||||||||||||||||
Reacquired franchise rights (1) | 420,262 | (197,562) | 222,700 | 402,894 | (160,187) | 242,707 | |||||||||||||||||||||||||||||
| Total intangible assets with definite lives | 462,416 | (218,067) | 244,349 | 445,048 | (178,514) | 266,534 | |||||||||||||||||||||||||||||
| Total intangible assets | $ | 1,015,816 | $ | (218,067) | $ | 797,749 | $ | 998,448 | $ | (178,514) | $ | 819,934 | |||||||||||||||||||||||
| Fiscal year | Estimated amortization expense | ||||
| 2026 | $ | 31,903 | |||
| 2027 | 31,632 | ||||
| 2028 | 31,830 | ||||
| 2029 | 30,953 | ||||
| 2030 | 30,423 | ||||
| Thereafter | 87,608 | ||||
| Total | $ | 244,349 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Mar 2, 2023 | |
| 2022 | Mar 11, 2022 | |
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.