HUNT J B TRANSPORT SERVICES INC Goodwill & Intangibles Disclosure
|
12. |
Goodwill and Other Intangible Assets |
Total goodwill was $134.0 million at December 31, 2025 and 2024. At December 31, 2025, $111.6 million, $13.6 million and $8.8 million of our goodwill was assigned to our FMS, ICS, and JBI business segments, respectively. impairment losses have been recorded for goodwill as of December 31, 2025. Our intangible assets consisted of those arising from previous business acquisitions within our FMS, ICS, and JBI segments. Identifiable intangible assets consist of the following (in millions):
|
Weighted Average |
||||||||||||
|
December 31, |
Amortization |
|||||||||||
|
2025 |
2024 |
Period |
||||||||||
|
Finite-lived intangibles: |
||||||||||||
|
Customer relationships |
$ | 189.8 | $ | 189.8 | 10.7 | |||||||
|
Non-competition agreements |
9.7 | 10.6 | 6.0 | |||||||||
|
Trade names |
- | - | ||||||||||
|
Total finite-lived intangibles |
199.5 | 200.4 | ||||||||||
|
Less accumulated amortization |
(123.2 | ) | (103.4 | ) | ||||||||
|
Total identifiable intangible assets, net |
$ | 76.3 | $ | 97.0 | ||||||||
Our finite-lived intangible assets have assigned residual values.
During the years ending December 31, 2025, 2024, and 2023, intangible asset amortization expense was $20.6 million, $37.0 million and $20.5 million, respectively. During the year ending December 31, 2024, we recorded expense of $14.4 million for the impairment of certain customer relationships intangible assets related to the BNSFL acquisition. Estimated amortization expense for our finite-lived intangible assets is expected to be approximately $19.7 million for 2026, $15.6 million for 2027, $9.7 million for 2028, $9.5 million for 2029, and $8.6 million for 2030. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, impairment or accelerated amortization of intangible assets, and other events.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Feb 23, 2018 | |
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.