Palo Alto Networks Inc Goodwill & Intangibles Disclosure
| Amount | |||||
| Balance as of July 31, 2024 | $ | 3,350.1 | |||
| Goodwill acquired | 1,216.5 | ||||
| Balance as of July 31, 2025 | $ | 4,566.6 | |||
| July 31, | |||||||||||||||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||
| Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||||||||||||||
| Intangible assets subject to amortization: | |||||||||||||||||||||||||||||||||||
| Developed technology | $ | 535.3 | $ | (274.3) | $ | 261.0 | $ | 813.9 | $ | (526.2) | $ | 287.7 | |||||||||||||||||||||||
| Customer relationships | 609.0 | (123.2) | 485.8 | 172.7 | (96.1) | 76.6 | |||||||||||||||||||||||||||||
| Acquired intellectual property | 24.4 | (8.6) | 15.8 | 18.2 | (7.9) | 10.3 | |||||||||||||||||||||||||||||
| Trade name and trademarks | — | — | — | 9.4 | (9.4) | — | |||||||||||||||||||||||||||||
| Other | 0.9 | (0.8) | 0.1 | 0.9 | (0.6) | 0.3 | |||||||||||||||||||||||||||||
| Total purchased intangible assets | $ | 1,169.6 | $ | (406.9) | $ | 762.7 | $ | 1,015.1 | $ | (640.2) | $ | 374.9 | |||||||||||||||||||||||
| Fiscal years ending July 31, | |||||||||||||||||||||||||||||||||||||||||
| Total | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 and Thereafter | |||||||||||||||||||||||||||||||||||
| Future amortization expense | $ | 762.7 | $ | 155.9 | $ | 125.0 | $ | 104.2 | $ | 78.2 | $ | 61.7 | $ | 237.7 | |||||||||||||||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 29, 2025 | Showing above |
| 2024 | Sep 6, 2024 | |
| 2023 | Sep 1, 2023 | |
| 2022 | Sep 6, 2022 | |
| 2021 | Sep 3, 2021 | |
| 2020 | Sep 4, 2020 | |
| 2019 | Sep 9, 2019 | |
| 2018 | Sep 13, 2018 | |
| 2017 | Sep 7, 2017 | |
| 2016 | Sep 8, 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.