TREDEGAR CORP Goodwill & Intangibles Disclosure
| (In thousands) | Aluminum Extrusions(a) | High Performance Films(a) | Total | |||||||||||||||||
Net carrying value of goodwill at December 31, 2023 | $ | 13,271 | $ | 22,446 | $ | 35,717 | ||||||||||||||
| Goodwill impairment | (13,271) | — | (13,271) | |||||||||||||||||
Net carrying value of goodwill at December 31, 2024 | — | 22,446 | 22,446 | |||||||||||||||||
| Goodwill impairment | — | — | — | |||||||||||||||||
Net carrying value of goodwill at December 31, 2025 | $ | — | $ | 22,446 | $ | 22,446 | ||||||||||||||
(a) The goodwill of Aluminum Extrusions and High Performance Films is carried by the Clearfield and Surface Protection reporting units, respectively. | ||||||||||||||||||||
| (In thousands) | Customer Relationships | Trade Names | Total | ||||||||||||||
Gross carrying value at December 31, 2024 | $ | 25,900 | $ | 6,700 | $ | 32,600 | |||||||||||
| Accumulated amortization | (18,574) | (6,700) | (25,274) | ||||||||||||||
Net carrying value at December 31, 2024 | $ | 7,326 | $ | — | $ | 7,326 | |||||||||||
Gross carrying value at December 31, 2025 | $ | 25,900 | $ | 6,700 | $ | 32,600 | |||||||||||
| Accumulated amortization | (20,332) | (6,700) | (27,032) | ||||||||||||||
Net carrying value at December 31, 2025 | $ | 5,568 | $ | — | $ | 5,568 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 11, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 11, 2022 | |
| 2020 | Mar 16, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 29, 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.