ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ZION

ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ Goodwill & Intangibles Disclosure

10-KFiled Feb 24, 20262 min read
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill is recognized upon the completion of a business combination as the excess of the purchase price over the fair value of the identifiable net assets acquired. We evaluate goodwill for impairment annually as of October 1, or more frequently if events or circumstances suggest that the carrying amount may exceed its fair value.
As part of this process, we may elect to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If this assessment indicates a potential impairment, we then perform a quantitative analysis to measure the amount of any impairment. When the fair value of a reporting unit is below its carrying amount, an impairment loss is recognized for the difference.
During the fourth quarter of 2025, we completed our annual goodwill impairment analysis using a qualitative approach. Based on this evaluation, we concluded that no impairment of goodwill existed for our reporting units.
The following schedule presents the carrying amount of goodwill allocated to our operating segments with goodwill, along with the carrying values of our core deposit and other intangible assets, net of related accumulated amortization:
December 31,
(In millions)20252024
Goodwill:
Amegy$615 $615 
CB&T412 379 
Zions Bank20 20 
Nevada State Bank13 13 
Total goodwill1,060 1,027 
Core deposits and other intangibles, net of accumulated amortization31 25 
Total goodwill and intangibles$1,091 $1,052 
The increases in goodwill and in core deposit and other intangibles at CB&T was due to the purchase of four FirstBank Coachella Valley, California branches in late March 2025.

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 23, 2024
2022Feb 23, 2023
2021Feb 25, 2022
2020Feb 25, 2021
2019Feb 26, 2020
2018Feb 26, 2019
2017Mar 1, 2018
2016Feb 28, 2017
2015Feb 29, 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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