NU SKIN ENTERPRISES, INC. Goodwill & Intangibles Disclosure

The Company’s reporting units for goodwill are its operating segments, which are also its reportable segments, with the exception of Rhyz Other. The Rhyz Other segment is made up of two reporting units, which had goodwill of $4.7 million and $0, respectively, as of both December 31, 2025 and December 31, 2024.

The following table presents goodwill allocated to the Company’s reportable segments for the periods ended December 31, 2025 and 2024 (U.S. dollars in thousands):

		Nu Skin																												Rhyz
		Americas				Southeast Asia/Pacific				Mainland China				Japan				Europe & Africa				South Korea				Hong Kong/ Taiwan				Manufacturing				Rhyz Other				Total Segments
Goodwill as of December 31, 2025		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	78,875			$	4,750			$	83,625
Goodwill as of December 31, 2024		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	78,875			$	4,750			$	83,625

Accumulated impairment losses for each segment as of December 31, 2025 and December 31, 2024 are as follows:

		Nu Skin																												Rhyz
		Americas				Southeast Asia/Pacific				Mainland China				Japan				Europe & Africa				South Korea				Hong Kong/ Taiwan				Manufacturing				Rhyz Other				Total Segments
Accumulated impairment losses		$	9,449			$	18,537			$	32,179			$	16,019			$	2,875			$	29,261			$	6,634			$	—			$	19,587			$	134,541

All of the Company’s goodwill is recorded in U.S. dollar functional currency and allocated to the respective segments. Goodwill is not amortized; rather, it is subject to annual impairment tests.

During the three months ended June 30, 2024, the Company determined that the continued decline in the Company’s stock price and corresponding decrease in market capitalization as well as declines in some of the Company’s reporting units’ forecasts were triggering events that required the Company to perform a quantitative impairment analysis for all reporting units. Based on the analysis, the Company concluded the estimated fair values of certain of its reporting units were less than their carrying values of equity as June 30, 2024. As a result, the Company recorded non-cash goodwill impairment charges of $130.9 million within restructuring and impairment expenses on the consolidated statement of income during the three months ended June 30, 2024.  The impairment charges were $9.4 million for the Americas segment, $32.2 million for the Mainland China segment, $18.5 million for the Southeast Asia/Pacific segment, $16.0 million for the Japan segment, $29.3 million for the South Korea segment, $2.9 million for the Europe & Africa segment, $6.6 million for the Hong Kong/Taiwan segment and $15.9 million for the BeautyBio reporting unit within the Rhyz Other segment. As part of the Company’s impairment analysis, the fair values of the reporting units were determined using the income approach. The income approach used level 3 inputs and utilized management estimates related to revenue growth rates, profitability margins, estimated future cash flows and discount rates.

During the three months ended September 30, 2024, the Company determined that the continued decline in the Company’s stock price and corresponding decrease in market capitalization were a triggering event that required the Company to perform a quantitative impairment analysis for the Manufacturing and Rhyz Other reporting units. Based on the analysis, the Company concluded the fair value of the Manufacturing and Rhyz Other reporting units were in excess of their carrying amounts and no impairment charge was required at that time.

During the fourth quarter of 2024, the continued decline in our BeautyBio reporting unit forecast was a triggering event that required us to perform a quantitative analysis. As a result, we concluded the estimated fair value of our BeautyBio reporting unit was less than its carrying value and as a result recorded a non-cash goodwill impairment charge of $3.6 million.