Kodiak Gas Services, Inc. Goodwill & Intangibles Disclosure
(in thousands) | Goodwill | ||||
| Balance as of December 31, 2023 | $ | 305,553 | |||
Acquisition of CSI Compressco (1) | 109,660 | ||||
| Balance as of December 31, 2024 | $ | 415,213 | |||
Mexico Divestiture (1) | (6,532) | ||||
Balance as of December 31, 2025 | $ | 408,681 | |||
(1) | See Note 3. Acquisitions and Divestitures for more details. | ||||
| As of December 31, 2025 | As of December 31, 2024 | ||||||||||||||||||||||||||||||||||
(in thousands) | Original Cost | Accumulated Amortization | Net Amount | Original Cost | Accumulated Amortization | Net Amount | |||||||||||||||||||||||||||||
| Trade name | $ | 19,400 | $ | (6,721) | $ | 12,679 | $ | 19,400 | $ | (4,791) | $ | 14,609 | |||||||||||||||||||||||
| Customer relationships | 191,100 | (59,373) | 131,727 | 191,100 | (47,809) | 143,291 | |||||||||||||||||||||||||||||
| Internal use software | 10,894 | (826) | 10,068 | 4,847 | — | 4,847 | |||||||||||||||||||||||||||||
| Total identifiable intangible assets | $ | 221,394 | $ | (66,920) | $ | 154,474 | $ | 215,347 | $ | (52,600) | $ | 162,747 | |||||||||||||||||||||||
(in thousands) | Amount | ||||
| Years ending December 31, | |||||
| 2026 | $ | 15,476 | |||
| 2027 | 15,476 | ||||
| 2028 | 15,476 | ||||
| 2029 | 14,185 | ||||
| 2030 | 12,214 | ||||
| Thereafter | 79,110 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 7, 2024 | |
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.