Green Plains Inc.GPRE

Green Plains Inc. Goodwill & Intangibles Disclosure

10-KFiled Feb 10, 20262 min read
GOODWILL AND INTANGIBLE ASSETS
Goodwill
The company has one reporting unit to which goodwill was assigned. We are required to perform impairment tests related to our goodwill annually, which we perform as of October 1, or if an indicator of impairment occurs. The company performed its annual goodwill assessments as of October 1, 2025 and 2024 using qualitative assessments, which resulted in no indication of goodwill impairment.
On September 30, 2024, goodwill of $10.6 million was disposed of in the Birmingham Transaction, which previously was recorded within the ethanol production segment. The carrying amount of goodwill attributable to the ethanol production segment for the years ended December 31, 2025 and 2024 was $18.5 million. The company records goodwill within other assets on the consolidated balance sheets.
Intangible Assets
The company recognized certain intangible assets in connection with the FQT acquisition during the fourth quarter of 2020. The components of the intangible assets are as follows (in thousands):
December 31,
20252024
Customer relationships and backlog$17,628 $17,628 
Intellectual property9,700 9,700 
Trade name1,300 1,300 
Total28,628 28,628 
Accumulated amortization(18,151)(15,962)
Total intangible assets, net$10,477 $12,666 
Weighted average remaining amortization period7.9 years8.9 years
The company recognized $2.2 million, $2.5 million, and $2.8 million of amortization expense associated with these intangible assets during the years ended December 31, 2025, 2024 and 2023, respectively. The company expects estimated amortization expense of $2.0 million, $1.8 million, $1.6 million, $1.5 million and $1.3 million for the years ended December 31, 2026, 2027, 2028, 2029 and 2030, respectively, as well as $2.3 million thereafter. The company’s intangible assets are recorded within other assets on the consolidated balance sheets.

Historical Timeline

Fiscal YearFiled
2025Feb 10, 2026Showing above
2024Feb 7, 2025
2023Feb 9, 2024
2022Feb 10, 2023
2021Feb 18, 2022
2020Feb 16, 2021
2019Feb 20, 2020
2018Feb 20, 2019
2017Feb 14, 2018
2016Feb 22, 2017
2015Feb 18, 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

Income TaxesRevenueEarnings Per ShareFair ValuePP&ESegmentsDebtCommitmentsNew StandardsPay vs Performance