Jefferson Capital, Inc. / DE Goodwill & Intangibles Disclosure
7.Goodwill and Other Intangible Assets
The Company tests goodwill for impairment at least annually as of October, or more frequently, if certain events or circumstances warrant. During the years ended December 31, 2025, and 2024, no impairment of goodwill was recorded.
The following table summarizes the changes in goodwill (in thousands) in the Company’s reportable segments:
United | United | Latin | |||||||||||||
| States | | Kingdom | Canada | America | Total | |||||||||
Goodwill | |||||||||||||||
December 31, 2023 | $ | 31,633 | $ | 18,120 | $ | 7,417 | $ | — | $ | 57,170 | |||||
Acquisitions | — | 1,089 | — | — | 1,089 | ||||||||||
Impact of FX translation | — | — | (576) | — | (576) | ||||||||||
December 31, 2024 | $ | 31,633 | $ | 19,209 | $ | 6,841 | $ | — | $ | 57,683 | |||||
Impact of FX translation | — | — | 331 | — | 331 | ||||||||||
December 31, 2025 | $ | 31,633 | $ | 19,209 | $ | 7,172 | $ | — | $ | 58,014 | |||||
Intangible assets | |||||||||||||||
December 31, 2023 | $ | 2,653 | $ | — | $ | 3,866 | $ | — | $ | 6,519 | |||||
Acquisitions | 5,272 | — | — | — | 5,272 | ||||||||||
Less: Amortization | (677) | — | (607) | (1,284) | |||||||||||
Impact of FX Translation | — | — | (270) | — | (270) | ||||||||||
December 31, 2024 | $ | 7,248 | $ | — | $ | 2,989 | $ | — | $ | 10,237 | |||||
Less: Amortization | (3,234) | — | (595) | — | (3,829) | ||||||||||
Impact of FX Translation | — | — | 133 | — | 133 | ||||||||||
December 31, 2025 | $ | 4,014 | $ | — | $ | 2,527 | $ | — | $ | 6,541 | |||||
The estimated amortization expense for the next five years is as follows:
| Amount | ||
2026 | $ | 2,248 | |
2027 | 1,466 | ||
2028 | 889 | ||
2029 | 889 | ||
2030 | 387 | ||
Thereafter | 660 | ||
Total future minimum amortization expense | $ | 6,541 | |
The amortization expense for intangible assets subject to amortization was $3.8 million, $1.3 million and $0.2 million during the years ended December 31, 2025, 2024 and 2023, respectively.
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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.