EQUIFAX INCEFX

EQUIFAX INC Goodwill & Intangibles Disclosure

10-KFiled Feb 19, 20263 min read
GOODWILL AND INTANGIBLE ASSETS
 
Goodwill.  Goodwill represents the cost in excess of the fair value of the net assets acquired in a business combination. As discussed in Note 1, goodwill is tested for impairment at the reporting unit level on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We perform our annual goodwill impairment tests as of December 1 each year. The fair value estimates for our reporting units were determined using a combination of the income and market approaches in accordance with the Company’s methodology. Our annual impairment tests as of December 1, 2025, 2024 and 2023 resulted in no impairment of goodwill.

Changes in the amount of goodwill for the twelve months ended December 31, 2025 and 2024, are as follows:  
Workforce SolutionsU.S.
Information
Solutions		InternationalTotal
(In millions)
Balance, December 31, 2023$2,520.2 $2,006.2 $2,303.5 $6,829.9 
Adjustments to initial purchase price allocation— — (68.7)(68.7)
Foreign currency translation(0.4)— (213.0)(213.4)
Balance, December 31, 20242,519.8 2,006.2 2,021.8 6,547.8 
Acquisitions54.1 — — 54.1 
Foreign currency translation0.2 — 143.6 143.8 
Balance, December 31, 2025$2,574.1 $2,006.2 $2,165.4 $6,745.7 

Refer to Note 3 for the acquisitions during the periods presented.

Indefinite-Lived Intangible Assets. Indefinite-lived intangible assets consist of indefinite-lived reacquired rights representing the value of rights which we had granted to various affiliate credit reporting agencies that were reacquired in the U.S. and Canada. At the time we acquired these agreements, they were considered perpetual in nature under the accounting guidance in place at that time and, therefore, the useful lives are considered indefinite. Indefinite-lived intangible assets are not amortized. We are required to test indefinite-lived intangible assets for impairment annually and whenever events or circumstances indicate that there may be an impairment of the asset value. We perform our annual indefinite-lived intangible asset impairment test as of December 1. Our 2025 annual impairment test completed during the fourth quarter of 2025 did not identify any impairment charges.

 As of December 31, 2025 and 2024, indefinite-lived intangible assets were approximately $94.8 million and $94.7 million, respectively.

Purchased Intangible Assets.  Purchased intangible assets, net, recorded on our Consolidated Balance Sheets at December 31, 2025 and 2024 consisted of the following:

 December 31, 2025December 31, 2024
GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Definite-lived intangible assets:(In millions)
Purchased data files$1,141.2 $(767.6)$373.6 $1,111.9 $(669.5)$442.4 
Customer relationships922.1 (523.2)398.9 937.7 (484.2)453.5 
Proprietary database720.2 (272.6)447.6 704.9 (227.6)477.3 
Acquired software and technology215.9 (139.4)76.5 217.6 (106.3)111.3 
Trade names, non-compete agreements and other intangible assets49.4 (14.7)34.7 49.7 (13.2)36.5 
Total definite-lived intangible assets$3,048.8 $(1,717.5)$1,331.3 $3,021.8 $(1,500.8)$1,521.0 
               
Amortization expense related to purchased intangible assets was $250.2 million, $261.1 million, and $250.7 million during the twelve months ended December 31, 2025, 2024, and 2023, respectively.
Estimated future amortization expense related to definite-lived purchased intangible assets at December 31, 2025 is as follows:
Years ending December 31,Amount
 (In millions)
2026$239.1 
2027225.8 
2028165.1 
2029150.2 
2030139.6 
Thereafter411.5 
 $1,331.3 

Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 20, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 24, 2022
2020Feb 25, 2021
2019Feb 20, 2020
2018Feb 21, 2019
2017Mar 1, 2018
2016Feb 22, 2017
2015Feb 24, 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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