LendingTree, Inc.TREE

LendingTree, Inc. Goodwill & Intangibles Disclosure

10-KFiled Mar 9, 20263 min read
GOODWILL AND INTANGIBLE ASSETS
The balance of goodwill, net is as follows (in thousands):
GoodwillAccumulated Impairment LossNet Goodwill
Balance at December 31, 2023
$903,227 $(521,688)$381,539 
Changes in goodwill— — — 
Balance at December 31, 2024
$903,227 $(521,688)$381,539 
Changes in goodwill— — — 
Balance at December 31, 2025
$903,227 $(521,688)$381,539 
The balance of intangible assets, net is as follows (in thousands):
December 31, 2025December 31, 2024
Intangible assets with indefinite lives$10,142 $10,142 
Intangible assets with definite lives, net27,950 33,141 
Total intangible assets, net$38,092 $43,283 
Goodwill and Indefinite-Lived Intangible Assets
The Company's goodwill at December 31, 2025 consists of $59.3 million associated with the Home reporting unit, $166.1 million associated with the Consumer reporting unit, and $156.1 million associated with the Insurance reporting unit.
During the third quarter of 2023, the Company’s market capitalization declined significantly compared to the second quarter of 2023. The closing stock price on September 29, 2023 was $15.50 reflecting a market capitalization below the Company's book value. In addition, the effects of the challenging interest rate environment, low for-sale home inventories and the rise in home prices in the Home reporting unit and consumer price inflation negatively impacting carrier underwriting in the Insurance reporting unit continued to provide revenue headwinds. Based on these factors, it was concluded that a triggering event had occurred and an interim quantitative impairment test was performed as of September 30, 2023. Upon completing the quantitative goodwill impairment test, the Company concluded that the carrying value of the Insurance reporting unit exceeded its fair value which resulted in a goodwill impairment charge of $38.6 million. The fair value of the Home and Consumer reporting units exceeded their carrying amounts, indicating no goodwill impairment. The fair values of each reporting unit were determined using a combination of the income approach and the market approach valuation methodologies.
The Company will continue to monitor each of the reporting units and the impact of business or economic changes on the fair value of the reporting unit. Changes in the timing of the recovery of the mortgage business, inflation, interest rates and other changes in current expectations could cause an impairment to the Insurance, Mortgage, or Consumer reporting units.
Intangible assets with indefinite lives relate to the Company's trademarks.
Intangible Assets with Definite Lives
Intangible assets with definite lives relate to the following (dollars in thousands):
Weighted Average
Amortization Life		CostAccumulated
Amortization		Net
Customer lists13.7 years$69,100 $(41,150)$27,950 
Balance at December 31, 2025$69,100 $(41,150)$27,950 
Weighted Average
Amortization Life		CostAccumulated
Amortization		Net
Customer lists13.6 years$69,700 $(36,559)$33,141 
Balance at December 31, 2024$69,700 $(36,559)$33,141 
During 2025 a customer list became fully amortized, reducing the cost and accumulated amortization in the table above.
In the fourth quarter of 2024, the Company made the decision to cease offering its student loan products. An impairment charge of $1.4 million was recorded in the fourth quarter of 2024 associated with student loan customer list intangible assets with an original cost of $6.4 million
Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of December 31, 2025, future amortization is estimated to be as follows (in thousands):
 Amortization Expense
Year ending December 31, 2026$5,092 
Year ending December 31, 20274,948 
Year ending December 31, 20284,539 
Year ending December 31, 20292,767 
Year ending December 31, 20302,767 
Thereafter7,837 
Total intangible assets with definite lives, net$27,950 
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Historical Timeline

Fiscal YearFiled
2025Mar 9, 2026Showing above
2024Mar 7, 2025
2023Feb 29, 2024
2022Feb 28, 2023
2021Mar 1, 2022
2020Mar 1, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Feb 26, 2018
2016Feb 28, 2017
2015Mar 1, 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.

Other Available Disclosures

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