VERRA MOBILITY Corp Goodwill & Intangibles Disclosure
The following table presents the changes in the carrying amount of goodwill by reportable segment:
|
|
Commercial |
|
|
Government |
|
|
Parking |
|
|
|
|
||||
($ in thousands) |
|
Services |
|
|
Solutions |
|
|
Solutions |
|
|
Total |
|
||||
Balance at December 31, 2023 |
|
$ |
422,091 |
|
|
$ |
214,602 |
|
|
$ |
199,142 |
|
|
$ |
835,835 |
|
Goodwill impairment (1) |
|
|
— |
|
|
|
— |
|
|
|
(97,076 |
) |
|
|
(97,076 |
) |
Foreign currency translation adjustment |
|
|
(1,924 |
) |
|
|
(1,220 |
) |
|
|
— |
|
|
|
(3,144 |
) |
Balance at December 31, 2024 |
|
|
420,167 |
|
|
|
213,382 |
|
|
|
102,066 |
|
|
|
735,615 |
|
Foreign currency translation adjustment |
|
|
5,064 |
|
|
|
931 |
|
|
|
— |
|
|
|
5,995 |
|
Balance at December 31, 2025 |
|
$ |
425,231 |
|
|
$ |
214,313 |
|
|
$ |
102,066 |
|
|
$ |
741,610 |
|
(1) The Company recorded an impairment to goodwill in its Parking Solutions segment during fiscal year 2024, refer to Note 2, Significant Accounting Policies, for additional information.
Intangible assets consist of the following as of the respective period-ends:
|
|
Weighted |
|
Weighted |
|
At December 31, 2025 |
|
|||||
|
|
Average |
|
Average |
|
Gross |
|
|
|
|
||
|
|
Remaining |
|
Amortization |
|
Carrying |
|
|
Accumulated |
|
||
($ in thousands) |
|
Useful Life |
|
Period |
|
Amount |
|
|
Amortization |
|
||
Trademarks |
|
4.1 years |
|
8.8 years |
|
$ |
4,822 |
|
|
$ |
2,484 |
|
Patent |
|
2.8 years |
|
5.0 years |
|
|
500 |
|
|
|
217 |
|
Customer relationships |
|
2.5 years |
|
9.3 years |
|
|
559,256 |
|
|
|
412,488 |
|
Developed technology |
|
2.7 years |
|
7.2 years |
|
|
40,656 |
|
|
|
21,404 |
|
Gross carrying value of intangible assets |
|
|
|
|
|
|
605,234 |
|
|
$ |
436,593 |
|
Less: accumulated amortization |
|
|
|
|
|
|
(436,593 |
) |
|
|
|
|
Intangible assets, net |
|
|
|
|
|
$ |
168,641 |
|
|
|
|
|
|
|
Weighted |
|
Weighted |
|
At December 31, 2024 |
|
|||||
|
|
Average |
|
Average |
|
Gross |
|
|
|
|
||
|
|
Remaining |
|
Amortization |
|
Carrying |
|
|
Accumulated |
|
||
($ in thousands) |
|
Useful Life |
|
Period |
|
Amount |
|
|
Amortization |
|
||
Trademarks |
|
5.2 years |
|
8.8 years |
|
$ |
4,667 |
|
|
$ |
1,972 |
|
Patent |
|
3.8 years |
|
5.0 years |
|
|
500 |
|
|
|
117 |
|
Customer relationships |
|
3.5 years |
|
9.3 years |
|
|
557,958 |
|
|
|
348,138 |
|
Developed technology |
|
3.9 years |
|
7.2 years |
|
|
38,659 |
|
|
|
19,260 |
|
Gross carrying value of intangible assets |
|
|
|
|
|
|
601,784 |
|
|
$ |
369,487 |
|
Less: accumulated amortization |
|
|
|
|
|
|
(369,487 |
) |
|
|
|
|
Intangible assets, net |
|
|
|
|
|
$ |
232,297 |
|
|
|
|
|
Amortization expense was $64.4 million, $67.0 million, and $77.6 million for fiscal years ended December 31, 2025, 2024, and 2023, respectively.
Estimated amortization expense in future years is expected to be:
($ in thousands) |
|
|
|
|
2026 |
|
$ |
57,922 |
|
2027 |
|
|
28,341 |
|
2028 |
|
|
22,316 |
|
2029 |
|
|
21,335 |
|
2030 |
|
|
20,243 |
|
Thereafter |
|
|
18,484 |
|
Total |
|
$ |
168,641 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Apr 22, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 18, 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.