Champion Homes, Inc. Goodwill & Intangibles Disclosure
Goodwill
Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At March 28, 2026 and March 29, 2025, the Company had goodwill of $365.2 million and $358.0 million, respectively. The change in the goodwill balance in fiscal 2026 was the result of acquisitions during the period. Goodwill is allocated to reporting units included in the U.S. Factory-built Housing segment, which include the Company’s U.S. manufacturing and retail operations. At March 28, 2026, there were no accumulated impairment losses related to goodwill.
Intangible Assets
The components of amortizable intangible assets were as follows:
(Dollars in thousands) |
|
March 28, 2026 |
|
|
March 29, 2025 |
|
||||||||||||||||||
|
|
Customer |
|
|
Trade |
|
|
Total |
|
|
Customer |
|
|
Trade |
|
|
Total |
|
||||||
Gross carrying amount |
|
$ |
82,786 |
|
|
$ |
49,242 |
|
|
$ |
132,028 |
|
|
$ |
82,634 |
|
|
$ |
46,284 |
|
|
$ |
128,918 |
|
Accumulated amortization |
|
|
(54,377 |
) |
|
|
(21,836 |
) |
|
|
(76,213 |
) |
|
|
(46,913 |
) |
|
|
(17,293 |
) |
|
|
(64,206 |
) |
Amortizable intangibles, net |
|
$ |
28,409 |
|
|
$ |
27,406 |
|
|
$ |
55,815 |
|
|
$ |
35,721 |
|
|
$ |
28,991 |
|
|
$ |
64,712 |
|
Weighted average remaining amortization period, in years |
|
|
3.9 |
|
|
|
6.0 |
|
|
|
4.7 |
|
|
|
4.9 |
|
|
|
6.8 |
|
|
|
5.6 |
|
Amortization of intangible assets for the fiscal years ended March 28, 2026, March 29, 2025, and March 30, 2024 was $11.8 million, $11.7 million, and $10.8 million respectively. Estimated amortization expense of intangible assets over the next five years is estimated to be (dollars in thousands):
Fiscal 2027 |
|
$ |
11,858 |
|
Fiscal 2028 |
|
|
11,799 |
|
Fiscal 2029 |
|
|
7,460 |
|
Fiscal 2030 |
|
|
6,592 |
|
Fiscal 2031 |
|
|
6,416 |
|
Cloud Computing Arrangements
The Company capitalizes costs associated with the development of cloud computing arrangements in a manner consistent with internally developed software. At March 28, 2026 and March 29, 2025, the Company had capitalized cloud computing costs, net of accumulated amortization, of $19.4 million and $23.0 million, respectively. Cloud computing costs are included in other noncurrent assets in the accompanying Consolidated Balance Sheets. Amortization of capitalized cloud computing costs for the years ended March 28, 2026, March 29, 2025, and March 30, 2024 was $4.1 million, $2.7 million, and $0.8 million, respectively.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 26, 2026 | Showing above |
| 2025 | May 27, 2025 | |
| 2024 | May 29, 2024 | |
| 2023 | May 30, 2023 | |
| 2022 | May 24, 2022 | |
| 2021 | May 26, 2021 | |
| 2020 | May 21, 2020 | |
| 2019 | May 23, 2019 | |
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.