Marvell Technology, Inc.MRVL

Marvell Technology, Inc. Goodwill & Intangibles Disclosure

10-KFiled Mar 11, 20263 min read
Goodwill and Acquired Intangible Assets, Net
Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The carrying value of goodwill as of January 31, 2026 and February 1, 2025 was $11.1 billion and $11.6 billion, respectively.

On August 14, 2025, the Company completed the sale of its automotive ethernet business to Infineon Technologies AG. In connection with the transaction, during fiscal 2026, the Company derecognized $524.7 million of goodwill, which was previously classified as assets held for sale based on the relative fair value of the automotive ethernet business. See “Note 1 – Basis of Presentation” for discussion of the automotive ethernet business divestiture.

The Company has identified that its business operates as a single operating segment and as a single reporting unit for the purpose of goodwill impairment testing. The Company’s annual test for goodwill impairment as of the last day of the fourth quarter of fiscal 2026 did not result in any impairment charge.
Acquired Intangible Assets, Net

As of January 31, 2026 and February 1, 2025, net carrying amounts excluding fully amortized intangible assets are as follows (in millions, except for weighted-average remaining amortization period):
January 31, 2026
Gross Carrying
Amounts
Accumulated
Amortization and Impairment
Net Carrying
Amounts		Weighted-Average Remaining Amortization Period (Years)
Developed technologies$4,625.0 $(3,546.0)$1,079.0 3.3
Customer contracts and related relationships2,001.0 (1,627.5)373.5 1.4
Trade names50.0 (47.8)2.2 0.2
Total acquired amortizable intangible assets6,676.0 (5,221.3)1,454.7 2.8
In-process research and development300.0 — 300.0 n/a
Total acquired intangible assets$6,976.0 $(5,221.3)$1,754.7 

February 1, 2025
Gross Carrying
Amounts
Accumulated
Amortization and Impairment
Net Carrying
Amounts		Weighted-Average Remaining Amortization Period (Years)
Developed technologies$5,162.0 $(3,466.1)$1,695.9 3.6
Customer contracts and related relationships2,039.0 (1,372.5)666.5 2.4
Trade names50.0 (37.8)12.2 1.2
Total acquired amortizable intangible assets7,251.0 (4,876.4)2,374.6 3.3
In-process research and development336.0 — 336.0 n/a
Total acquired intangible assets$7,587.0 $(4,876.4)$2,710.6 

The Company regularly assesses the results of its business to determine whether events or circumstances exist that indicate whether the carrying amount of the acquired intangible assets may not be recoverable. During fiscal 2025, impairment charges of $240.1 million related to certain acquired developed technologies intangible assets were recognized as part of restructuring actions. The gross carrying amounts and accumulated amortization of fully impaired intangible assets were excluded from the table above. See “Note 4 – Restructuring” for further information.

The intangible assets are amortized on a straight-line basis over the estimated useful lives, except for certain customer contracts and related relationships, which are amortized using an accelerated method of amortization over the expected customer lives, which more closely align with the pattern of realization of economic benefits expected to be obtained. The in-process research and development (“IPR&D”) will be accounted for as an indefinite-lived intangible asset and will not be amortized until the underlying project reaches technological feasibility and commercial production, at which point, the IPR&D is reclassified as an amortizable acquired intangible asset and amortized over the asset’s estimated useful life. The useful life for the IPR&D project is expected to be 9 years. In the event the IPR&D is abandoned, the related assets will be written off.

Amortization for acquired intangible assets was $942.0 million during the year ended January 31, 2026. Amortization for acquired intangible assets was $1.1 billion during the years ended February 1, 2025 and February 3, 2024.
The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of January 31, 2026 (in millions):
Fiscal YearAmount
2027$814.0 
2028284.8 
2029131.8 
2030109.5 
203150.4 
Thereafter64.2 
$1,454.7 
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Historical Timeline

Fiscal YearFiled
2026Mar 11, 2026Showing above
2025Mar 12, 2025
2024Mar 13, 2024
2023Mar 9, 2023
2022Mar 10, 2022

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

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