GREEN DOT CORPGDOT

GREEN DOT CORP Goodwill & Intangibles Disclosure

10-KFiled Mar 4, 20252 min read
Goodwill and Intangible Assets
Goodwill and intangible assets on our consolidated balance sheets consisted of the following:
December 31,
20242023
(In thousands)
Goodwill$301,790 $301,790 
Intangible assets, net96,151 118,687 
Goodwill and intangible assets$397,941 $420,477 
Goodwill
There were no changes in the composition of goodwill from the previous year either on a consolidated basis or within our reportable segments. We completed our annual goodwill impairment test as of November 30, 2024. Based on the results of the annual goodwill impairment test, we determined that each of the fair values of our reporting units exceeded their carrying values and therefore, no impairment was recorded.
Note 9—Goodwill and Intangible Assets (continued)
Intangible Assets
The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:
December 31, 2024December 31, 2023
Gross Carrying ValueAccumulated AmortizationNet Book ValueGross Carrying ValueAccumulated AmortizationNet Book ValueWeighted Average Useful Lives
(In thousands)(In thousands)(Years)
Customer relationships$250,800 $(173,887)$76,913 $309,773 $(214,416)$95,357 14.0
Trade names43,386 (30,356)13,030 44,086 (28,524)15,562 14.7
Patents3,000 (2,727)273 3,000 (2,455)545 11.0
Software licenses17,842 (11,964)5,878 15,835 (8,697)7,138 4.1
Other926 (869)57 5,964 (5,879)85 9.6
Total intangible assets$315,954 $(219,803)$96,151 $378,658 $(259,971)$118,687 
Amortization expense on finite-lived intangibles, a component of other general and administrative expenses, was $21.3 million, $24.3 million, and $23.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. None of our intangible assets were impaired as of December 31, 2024 or 2023.
The following table shows our estimated amortization expense for intangible assets for each of the next five succeeding years and thereafter:
December 31,
(In thousands)
2025$24,279 
202622,764 
202718,513 
202816,767 
202913,828 
Total$96,151 
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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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