MATRIX SERVICE CO Goodwill & Intangibles Disclosure
| Storage and Terminal Solutions | Utility and Power Infrastructure | Process and Industrial Facilities | Total | |||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||
| Net balance at June 30, 2022 | $ | 19,445 | $ | 4,263 | $ | 18,427 | $ | 42,135 | ||||||||||||||||||
| Goodwill impairment | — | — | (12,316) | (12,316) | ||||||||||||||||||||||
Disposal of business(2) | — | — | (627) | (627) | ||||||||||||||||||||||
Translation adjustment(1) | (48) | (24) | — | (72) | ||||||||||||||||||||||
| Net balance at June 30, 2023 | 19,397 | 4,239 | 5,484 | 29,120 | ||||||||||||||||||||||
Translation adjustment(1) | (64) | (33) | — | (97) | ||||||||||||||||||||||
| Net balance at June 30, 2024 | 19,333 | 4,206 | 5,484 | 29,023 | ||||||||||||||||||||||
Translation adjustment(1) | 16 | 8 | — | 24 | ||||||||||||||||||||||
| Net balance at June 30, 2025 | $ | 19,349 | $ | 4,214 | $ | 5,484 | $ | 29,047 | ||||||||||||||||||
| June 30, 2025 | ||||||||||||||||||||||||||
| Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||||||
| (Years) | (In thousands) | |||||||||||||||||||||||||
| Intellectual property | 10 | $ | 130 | $ | (122) | $ | 8 | |||||||||||||||||||
| Customer based | 9 to 15 | 11,144 | (10,597) | 547 | ||||||||||||||||||||||
| Total other intangible assets | $ | 11,274 | $ | (10,719) | $ | 555 | ||||||||||||||||||||
| June 30, 2024 | ||||||||||||||||||||||||||
| Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||||||
| (Years) | (In thousands) | |||||||||||||||||||||||||
| Intellectual property | 10 | $ | 130 | $ | (109) | $ | 21 | |||||||||||||||||||
Customer based(1) | 9 to 15 | 11,144 | (9,514) | 1,630 | ||||||||||||||||||||||
| Total other intangible assets | $ | 11,274 | $ | (9,623) | $ | 1,651 | ||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 10, 2025 | Showing above |
| 2024 | Sep 10, 2024 | |
| 2023 | Sep 12, 2023 | |
| 2022 | Oct 11, 2022 | |
| 2021 | Sep 13, 2021 | |
| 2020 | Sep 3, 2020 | |
| 2019 | Sep 4, 2019 | |
| 2018 | Sep 12, 2018 | |
| 2017 | Sep 11, 2017 | |
| 2016 | Sep 1, 2016 | |
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.