WABASH NATIONAL CorpWNC

WABASH NATIONAL Corp Goodwill & Intangibles Disclosure

10-KFiled Feb 18, 20262 min read
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill and Related Annual Impairment Assessments
As of December 31, 2025, goodwill allocated to the Transportation Solutions (“TS”) and Parts & Services (“P&S”) segments was approximately $120.5 million and $70.7 million, respectively.
During the fourth quarters of both 2025 and 2024, the Company chose to use a quantitative assessment to determine if it was more likely than not that the fair value of the TS and P&S reporting units were less than their respective carrying amounts. In accordance with the relevant accounting guidance, in order to perform the quantitative assessment, the Company considered many factors including, but not limited to, general economic conditions, industry and market conditions, financial performance and key business drivers, and future operating plans. Based on the analysis of the factors and considerations described above, the Company concluded that it was more likely than not that the fair value of each reporting unit continued to be greater than the respective carrying value. Therefore, no impairment charges were recorded.
For the years ended December 31, 2025, 2024, and 2023, the changes in the carrying amounts of goodwill were as follows (in thousands):
Transportation SolutionsParts & ServicesTotal
Balance at December 31, 2023
   Goodwill$188,743 $108,066 $296,809 
   Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance at December 31, 2023120,486 67,923 188,409 
   Effects of foreign currency20 12 32 
Balance at December 31, 2024
Goodwill188,763 108,078 296,841 
   Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance as of December 31, 2024120,506 67,935 188,441 
   Acquisition of Trailerhawk AI, LLC— 2,801 2,801 
   Effects of foreign currency (8)(12)(20)
Balance as of December 31, 2025
Goodwill188,755 110,867 299,622 
   Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance as of December 31, 2025$120,498 $70,724 $191,222 
Intangible Assets
Intangible asset amortization expense was $11.2 million, $12.0 million, and $12.8 million for 2025, 2024, and 2023, respectively. Annual intangible asset amortization expense for the next 5 fiscal years is estimated to be $10.7 million in 2026; $10.2 million in 2027; $9.7 million in 2028; $9.3 million in 2029; and $8.9 million in 2030. As of December 31, 2025, the balances of intangible assets, other than goodwill, were as follows (in thousands):
Weighted Average
Amortization Period		Gross Intangible
Assets		Accumulated
Amortization		Net Intangible
Assets
Customer relationships13 years$270,016 $(206,727)$63,289 
Technology12 years11,708 (11,708)— 
Tradenames and trademarks10 years300 (28)272 
Backlog6 months2,400 (2,400)— 
Total$284,424 $(220,863)$63,561 
As of December 31, 2024, the balances of intangible assets, other than goodwill, were as follows (in thousands):
Weighted Average
Amortization Period		Gross Intangible
Assets		Accumulated
Amortization		Net Intangible
Assets
Customer relationships13 years$270,016 $(195,571)$74,445 
Technology12 years11,708 (11,708)— 
Total$281,724 $(207,279)$74,445 

Historical Timeline

Fiscal YearFiled
2025Feb 18, 2026Showing above
2024Feb 18, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 24, 2022
2020Feb 25, 2021
2019Feb 25, 2020
2018Feb 28, 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.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&ELeasesSegmentsDebtCommitmentsStock CompensationNew StandardsPay vs Performance