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

6 Months Ended

Mar. 31, 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		SGK Brand Solutions		Consolidated




Net goodwill at September 30, 2024	$	373,144	$	99,545	$	224,434	$	697,123
Additions during period	2,767		—		—		2,767

Translation and other adjustments	(1,873)		(464)		(6,385)		(8,722)


Reclassified to non-current assets held-for-sale	—		—		(218,049)		(218,049)
Net goodwill at March 31, 2025	$	374,038	$	99,081	$	—	$	473,119

The net goodwill balances at March 31, 2025 and September 30, 2024 included $45,673 and $277,913 of accumulated impairment losses, respectively. Accumulated impairment losses at March 31, 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 SGK 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 March 31, 2025 and September 30, 2024, respectively.


	Carrying Amount		Accumulated Amortization		Net
March 31, 2025
Indefinite-lived trade names	$	30,540	$	—	$	30,540
Definite-lived trade names	25,662		(20,179)		5,483
Customer relationships	148,514		(100,317)		48,197
Copyrights/patents/other	16,080		(13,525)		2,555
	$	220,796	$	(134,021)	$	86,775
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 six months ended March 31, 2025 primarily included the impact of foreign currency fluctuations during the period and additional amortization.

Note 16. Goodwill and Other Intangible Assets (continued)

Amortization expense on intangible assets was $4,280 and $8,959 for the three-month periods ended March 31, 2025 and 2024, respectively. Amortization expense on intangible assets was $12,888 and $18,754 for the six-month periods ended March 31, 2025 and 2024, respectively. The fiscal 2025 decrease in intangible amortization primarily resulted from certain intangible assets within the SGK Brand Solutions segment reaching the end of their amortizable lives. Amortization expense is estimated to be $14,049 for the remainder of fiscal 2025, $10,453 in 2026, $9,509 in 2027, $7,505 in 2028 and $6,531 in 2029.