Verisk Analytics, Inc. Goodwill & Intangibles Disclosure

12.    Goodwill and Intangible Assets:

 

The following is a summary of the change in goodwill from January 1, 2024 through December 31, 2025:

 

		Insurance
Goodwill at January 1, 2024		$	1,760.8
Acquisitions			10.6
Dispositions			(15.8	)
Purchase accounting reclassifications			0.3
Foreign currency translation adjustment			(29.3	)
Goodwill at December 31, 2024			1,726.6
Acquisitions			93.7
Dispositions			(3.9	)
Purchase accounting reclassifications			0.1
Foreign currency translation adjustment			61.7
Goodwill at December 31, 2025		$	1,878.2

 

Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. When evaluating goodwill for impairment, we may decide to first perform a qualitative assessment, or "Step Zero" impairment test, to determine whether it is more likely than not that impairment has occurred. The qualitative assessment includes a review of macroeconomic conditions, industry and market considerations, internal cost factors, and our own overall financial and share price performance, among other factors. If we do not perform a qualitative assessment, or if we determine that it is more likely than not that the carrying amount of our reporting units exceeds their fair value, we perform a quantitative assessment and calculate the estimated fair value of the respective reporting unit. If the carrying amount of a reporting unit's goodwill exceeds the fair value of that goodwill, an impairment loss is recognized. As of June 30, 2025, we completed our Step Zero impairment test at the reporting unit level and determined it was not more likely than not that the carrying values of our reporting units exceeded their fair values. We did not recognize any impairment charges related to our goodwill and indefinite-lived intangible assets. Subsequent to performing the test, we continued to monitor these reporting units for events that would trigger an interim impairment test; we did not identify such events.

 

Our intangible assets and related accumulated amortization consisted of the following:

 

		Weighted
		Average
		Useful Life						Accumulated
		(in years)		Cost				Amortization				Net
December 31, 2025
Technology-based		8		$	352.6			$	(285.2	)		$	67.4
Marketing-related		6			38.3				(36.3	)			2.0
Contract-based		6			5.0				(5.0	)			—
Customer-related		13			513.0				(239.6	)			273.4
Database-based		8			15.5				(11.7	)			3.8
Total intangible assets				$	924.4			$	(577.8	)		$	346.6
December 31, 2024
Technology-based		8		$	364.9			$	(285.3	)		$	79.6
Marketing-related		6			37.8				(35.5	)			2.3
Contract-based		6			5.0				(5.0	)			—
Customer-related		13			529.1				(224.0	)			305.1
Database-based		8			15.1				(9.7	)			5.4
Total intangible assets				$	951.9			$	(559.5	)		$	392.4

 

Amortization expense related to intangible assets for the years ended December 31, 2025, 2024, and 2023 was $67.5 million, $72.3 million, and $74.6 million, respectively. Estimated amortization expense in future periods through 2031 and thereafter for intangible assets subject to amortization is as follows:

 

Years Ending		Amount
2026		$	56.7
2027			48.3
2028			45.9
2029			41.2
2030			37.6
2031 and thereafter			116.9
Total		$	346.6