10. Goodwill
Changes in goodwill were as follows:
December 28,
2024
(in millions)HealthcareNon-healthcareTotal
Goodwill, beginning of period$98.6 $309.1 $407.7 
Adjustments to goodwill for impairment(1)
— (294.0)(294.0)
Foreign currency translation adjustment(1.9)(15.1)(17.0)
Goodwill, end of period$96.7 $— $96.7 
_____________
(1)    See Note 9, Intangible Assets, Net for details on the impairment of goodwill.
December 30,
2023
(in millions)HealthcareNon-healthcareTotal
Goodwill, beginning of period$97.6 $347.8 $445.4 
Adjustments to goodwill from purchase price allocation
— (18.2)(18.2)
Foreign currency translation adjustment1.0 (20.5)(19.5)
Goodwill, end of period$98.6 $309.1 $407.7 
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Historical Timeline

Fiscal YearFiled
2024Feb 25, 2025Showing above
2023Feb 28, 2024
2022Feb 16, 2022
2021Feb 23, 2021
2019Feb 19, 2020
2018Feb 26, 2019
2017Feb 28, 2018
2016Feb 15, 2017

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.