Matthews International Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

9 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of the carrying amount of goodwill attributable to each segment as well as the changes in such amounts are as follows:


	Memorialization		Industrial Technologies		Brand Solutions		Consolidated




Net goodwill at September 30, 2024	$	373,144	$	99,545	$	224,434	$	697,123
Additions during period	42,822		—		—		42,822

Translation and other adjustments	82		457		(6,385)		(5,846)


Sale of SGK Business	—		—		(218,049)		(218,049)
Net goodwill at June 30, 2025	$	416,048	$	100,002	$	—	$	516,050

The net goodwill balances at June 30, 2025 and September 30, 2024 included $45,673 and $277,913 of accumulated impairment losses, respectively. Accumulated impairment losses at June 30, 2025 were $5,000 and $40,673 for the Memorialization and Industrial Technologies segments, respectively. Accumulated impairment losses at September 30, 2024 were $5,000, $40,673 and $232,240 for the Memorialization, Industrial Technologies and Brand Solutions segments, respectively.

The Company performed its annual impairment review of goodwill and indefinite-lived intangible assets in the second quarter of fiscal 2025 (January 1, 2025) and determined that the estimated fair values for all goodwill reporting units exceeded their carrying values, and, therefore, no impairment charges were necessary at such time.

The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of June 30, 2025 and September 30, 2024, respectively.


	Carrying Amount		Accumulated Amortization		Net
June 30, 2025
Indefinite-lived trade names	$	30,540	$	—	$	30,540
Definite-lived trade names	26,176		(21,513)		4,663
Customer relationships	150,628		(104,363)		46,265
Copyrights/patents/other	16,441		(14,069)		2,372
	$	223,785	$	(139,945)	$	83,840
September 30, 2024:
Indefinite-lived trade names	$	30,540	$	—	$	30,540
Definite-lived trade names	151,598		(127,829)		23,769
Customer relationships	380,387		(311,621)		68,766
Copyrights/patents/other	19,166		(16,215)		2,951
	$	581,691	$	(455,665)	$	126,026

The net change in intangible assets during the nine months ended June 30, 2025 primarily reflected the sale of the Company's interest in the SGK Business, the impact of foreign currency fluctuations during the period and additional amortization.

Amortization expense on intangible assets was $3,474 and $9,037 for the three-month periods ended June 30, 2025 and 2024, respectively. Amortization expense on intangible assets was $16,362 and $27,791 for the nine-month periods ended June 30, 2025 and 2024, respectively. The fiscal 2025 decrease in intangible amortization reflected certain intangible assets reaching the end of their amortizable lives, and lower amortization following the Company's divestiture of its interest in the SGK Business. Amortization expense is estimated to be $2,977 for the remainder of fiscal 2025, $9,497 in 2026, $8,597 in 2027, $6,702 in 2028 and $5,782 in 2029.