Emergent BioSolutions Inc.EBS

Emergent BioSolutions Inc. Goodwill & Intangibles Disclosure

10-KFiled Feb 27, 20262 min read
Intangible assets and goodwill
Intangible Assets
The Company’s finite-lived intangible assets consist of products acquired via business combinations or asset acquisitions. The following table summarizes the Company’s finite-lived intangible assets:
December 31, 2025
December 31, 2024
Weighted Average Useful Life in Years
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Products
13.8$855.4 $418.9 $436.5 $855.4 $353.9 $501.5 
Total intangible assets$855.4 $418.9 $436.5 $855.4 $353.9 $501.5 
Amortization expense associated with the Company’s finite-lived intangible assets was recorded as follows:
Year Ended December 31,
2025
2024
2023
Amortization expense$65.1 $65.1 $65.6 
The Company estimates our future amortization expense for our intangible assets as follows:
Year
As of
December 31, 2025
2026$63.9 
202760.7 
202851.7 
202951.7 
203051.7 
Thereafter156.8 
Total remaining amortization$436.5 
Goodwill
The Company had no remaining goodwill as of December 31, 2025, 2024 and 2023. During the third quarter of 2023, the Company observed continued market volatility including significant declines in its market capitalization and revised its financial outlook, which was identified as a triggering event. As a result of the quantitative assessments performed in connection with the preparation of the financial statements as of and for the quarter ended September 30, 2023, the Company recorded a $218.2 million non-cash goodwill impairment charge for the MCM Products reporting unit, which is included in “Goodwill impairment” on the Consolidated Statement of Operations for the year ended December 31, 2023.

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 4, 2025
2023Mar 8, 2024
2022Mar 1, 2023
2021Feb 25, 2022
2020Feb 19, 2021
2019Feb 25, 2020

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

Income TaxesRevenueEarnings Per ShareFair ValuePP&ELeasesSegmentsDebtNew Standards