Vistance Networks, Inc. Goodwill & Intangibles Disclosure
5. GOODWILL AND OTHER INTANGIBLE ASSETS
The following table presents details of the Company’s intangible assets other than goodwill:
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||||||||||||||||||
|
Gross Carrying |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
|
Gross Carrying |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
||||||
Customer base |
$ |
1,060.6 |
|
|
$ |
408.0 |
|
|
$ |
652.6 |
|
|
$ |
1,076.1 |
|
|
$ |
362.7 |
|
|
$ |
713.4 |
|
Trade names and trademarks |
|
330.0 |
|
|
|
171.3 |
|
|
|
158.7 |
|
|
|
331.7 |
|
|
|
148.6 |
|
|
|
183.1 |
|
Patents and technologies |
|
1,102.5 |
|
|
|
1,074.7 |
|
|
|
27.8 |
|
|
|
1,123.3 |
|
|
|
1,040.5 |
|
|
|
82.8 |
|
Other (1) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32.0 |
|
|
|
32.0 |
|
|
|
— |
|
Total intangible assets |
$ |
2,493.1 |
|
|
$ |
1,654.0 |
|
|
$ |
839.1 |
|
|
$ |
2,563.1 |
|
|
$ |
1,583.8 |
|
|
$ |
979.3 |
|
There were no impairments of finite-lived intangible assets identified during the years ended December 31, 2025, 2024 or 2023.
Amortization expense for intangible assets was $138.4 million, $165.1 million and $227.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. Future amortization expense as of December 31, 2025 is as follows:
|
Estimated |
|
|
2026 |
$ |
102.0 |
|
2027 |
|
90.0 |
|
2028 |
|
88.5 |
|
2029 |
|
88.5 |
|
2030 |
|
88.5 |
|
Thereafter |
|
381.3 |
|
The following table presents the activity in goodwill by reportable segment.
|
|
December 31, 2024 |
|
|
Activity |
|
|
December 31, 2025 |
|
|||||||||||||||||||
|
|
Goodwill |
|
|
Accumulated Impairment Losses |
|
|
Total |
|
|
Foreign Exchange and Other |
|
|
Goodwill |
|
|
Accumulated Impairment Losses |
|
|
Total |
|
|||||||
RUCKUS |
|
$ |
534.7 |
|
|
$ |
(41.2 |
) |
|
$ |
493.5 |
|
|
|
2.4 |
|
|
$ |
537.1 |
|
|
$ |
(41.2 |
) |
|
$ |
495.9 |
|
Aurora |
|
|
2,000.1 |
|
|
|
(1,734.0 |
) |
|
|
266.1 |
|
|
|
2.6 |
|
|
|
2,002.7 |
|
|
|
(1,734.0 |
) |
|
|
268.7 |
|
Total |
|
$ |
2,534.8 |
|
|
$ |
(1,775.2 |
) |
|
$ |
759.6 |
|
|
$ |
5.0 |
|
|
$ |
2,539.8 |
|
|
$ |
(1,775.2 |
) |
|
$ |
764.6 |
|
|
|
December, 31, 2023 |
|
|
Activity |
|
|
December 31, 2024 |
|
|||||||||||||||||||
|
|
Goodwill |
|
|
Accumulated Impairment Losses |
|
|
Total |
|
|
Foreign Exchange and Other |
|
|
Goodwill |
|
|
Accumulated Impairment Losses |
|
|
Total |
|
|||||||
RUCKUS |
|
$ |
537.1 |
|
|
$ |
(41.2 |
) |
|
$ |
495.9 |
|
|
$ |
(2.4 |
) |
|
$ |
534.7 |
|
|
$ |
(41.2 |
) |
|
$ |
493.5 |
|
Aurora |
|
|
1,995.4 |
|
|
|
(1,734.0 |
) |
|
|
261.4 |
|
|
|
4.7 |
|
|
|
2,000.1 |
|
|
|
(1,734.0 |
) |
|
|
266.1 |
|
Total |
|
$ |
2,532.5 |
|
|
$ |
(1,775.2 |
) |
|
$ |
757.3 |
|
|
$ |
2.3 |
|
|
$ |
2,534.8 |
|
|
$ |
(1,775.2 |
) |
|
$ |
759.6 |
|
During the years ended December 31, 2025 and 2024, the Company recorded an additional $1.7 million and $5.2 million, respectively, of goodwill in the Aurora (formerly ANS) segment related to the Casa acquisition.
Interim and Annual Goodwill Impairment Testing
Estimating the fair value of a reporting unit involves uncertainties because it requires management to develop numerous assumptions, including assumptions about the future growth and potential volatility in revenues and costs, capital expenditures, industry economic factors and future business strategy. Changes in projected revenue growth rates, projected EBITDA margin percentages or estimated discount rates due to uncertain market conditions, terminal growth rates, lower market multiples, loss of one or more key customers, changes in the Company’s strategy, changes in technology or other factors could negatively affect the fair value in one or more of the Company’s reporting units and result in a material impairment charge in the future.
Year 2025:
During the annual impairment test performed in the fourth quarter of 2025, no were identified.
Year 2024:
During the third quarter of 2024, the Company completed an impairment analysis for goodwill recorded within the RUCKUS (formerly NICS) reporting unit, which was impacted by the divestiture of the DAS business unit. The quantitative assessment was used, and the Company determined that the fair value of the impacted reporting unit exceeded the carrying value and that no impairment existed immediately prior to or subsequent to allocating goodwill to the disposal group that included the DAS business unit. The Company allocated $113.5 million of goodwill to the disposal group based on the relative fair value of the DAS business unit as compared to the RUCKUS reporting unit, along with $504.3 million of goodwill that was entirely attributable to its OWN reporting unit. Total goodwill for the disposal group of $617.8 million was classified as held for sale as of December 31, 2024. The fair values of the DAS business unit and the RUCKUS reporting unit were determined using Level 3 valuation inputs.
During the annual impairment test performed in the fourth quarter of 2024, no were identified.
Year 2023:
During the third quarter of 2023, the Company concluded that a triggering event occurred, primarily due to a sustained decrease in the market value of the Company’s debt and common stock affecting the overall business and changes in expected future cash flows due to reduced earnings forecasts and current macroeconomic conditions, including a rising interest rate environment. As a result, the Company performed an interim quantitative goodwill impairment test for its Aurora (formerly ANS) reporting unit and recorded a charge of $425.9 million in asset impairments on the Consolidated Statements of Operations to partially write down the carrying amount of the goodwill in the Aurora reporting unit. The Aurora reporting unit is the same as the Aurora segment. The fair value of the reporting unit was determined using Level 3 valuation inputs.
During the annual impairment test performed in the fourth quarter of 2023 and in conjunction with the development of the Company’s 2024 and long-range plans, the Company determined the goodwill balance in the Aurora reporting unit was impaired and recorded a partial impairment charge of $46.4 million in on the Consolidated Statements of Operations. The impairment charge resulted from the Company’s assessment of further lower revenue growth and EBITDA margins in the fourth quarter of 2023, due to adverse impacts of market conditions on the current year profitability and estimated future business results and cash flows. The fair value of the reporting unit was determined using Level 3 valuation inputs.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 15, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 19, 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.