SKYWORKS SOLUTIONS, INC.SWKS

SKYWORKS SOLUTIONS, INC. Goodwill & Intangibles Disclosure

10-KFiled Nov 7, 20252 min read
7.     GOODWILL AND INTANGIBLE ASSETS

The Company’s goodwill balance was $2,176.7 million as of each of October 3, 2025, and September 27, 2024. In fiscal 2025, the Company performed an impairment test of its goodwill and its indefinite-lived intangible assets as of the first day of the fourth fiscal quarter in accordance with its regularly scheduled testing. The results of these tests indicated that the Company’s goodwill was not impaired. There were no indicators of IPR&D impairment noted in fiscal 2025 and fiscal 2023. Refer to Note 4 for a discussion of IPR&D impairments of $146.7 million in fiscal 2024.

Intangible assets consist of the following (in millions):
As of
Weighted
Average
Amortization
Period (Years)		October 3, 2025September 27, 2024
 
 
 
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Developed technology and other6.4$1,396.5 $(678.5)$718.0 $1,379.6 $(540.7)$838.9 
Technology licenses 3.1167.0 (78.8)88.2 75.0 (48.8)26.2 
In-process research and development2.8 — 2.8 35.4 — 35.4 
Total intangible assets$1,566.3 $(757.3)$809.0 $1,490.0 $(589.5)$900.5 

Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. During fiscal 2025, $32.6 million of IPR&D assets were transferred to definite-lived intangible assets and are being amortized over their useful lives of 8 years. During fiscal 2024, $89.1 million of IPR&D assets were transferred to definite-lived intangible assets, of which $33.4 million is being amortized over their useful lives of 12 years and $55.7 million is being amortized over their useful lives of 8 years. Amortization expense related to definite-lived intangible assets was
$184.3 million, $186.5 million, and $225.9 million during fiscal 2025, fiscal 2024, and fiscal 2023, respectively, primarily recorded within cost of goods sold.

Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions):
20262027202820292030Thereafter
Amortization expense$173.1 $159.2 $124.6 $91.0 $83.2 $175.1 

Historical Timeline

Fiscal YearFiled
2025Nov 7, 2025Showing above
2024Nov 15, 2024
2023Nov 17, 2023
2022Nov 23, 2022
2021Nov 24, 2021
2020Nov 17, 2020
2019Nov 14, 2019
2018Nov 15, 2018
2017Nov 13, 2017
2016Nov 22, 2016
2015Nov 24, 2015

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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