Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The Company tests goodwill at least annually for possible impairment. The Company completes the annual testing of impairment for goodwill on the later of November 1 or the first day of its eleventh fiscal month of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill.

The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill. The Company performed its annual impairment testing for its reporting units for fiscal year 2024 as of November 1, 2024. There were no impairments measured in the periods presented. While the Company believes that its estimates of current value are reasonable, if actual results differ from the estimates and judgments used, including such items as future cash flows and the volatility inherent in markets which the Company serves, impairment charges against the carrying value of those assets could be required in the future.

The changes in the carrying amount of goodwill for the nine months ended September 28, 2025 were as follows:


	Life Sciences		Diagnostics		Consolidated
	(In thousands)
Balance at December 29, 2024	$	4,541,467	$	1,922,152	$	6,463,619
Foreign currency translation	96,267		40,745		137,012
Acquisitions, earn-outs and other	98		(98)		—
Balance at September 28, 2025	$	4,637,832	$	1,962,799	$	6,600,631

Identifiable intangible asset balances by category were as follows:


	September 28, 2025		December 29, 2024
	(In thousands)
Patents	$	27,805	$	27,808
Less: Accumulated amortization	(26,467)		(26,293)
Net patents	1,338		1,515
Trade names and trademarks	149,468		142,588
Less: Accumulated amortization	(99,392)		(87,824)
Net trade names and trademarks	50,076		54,764
Licenses	27,487		27,164
Less: Accumulated amortization	(19,395)		(17,855)
Net licenses	8,092		9,309
Core technology	1,618,415		1,561,831
Less: Accumulated amortization	(881,299)		(735,532)
Net core technology	737,116		826,299
Customer relationships	2,859,641		2,807,909
Less: Accumulated amortization	(1,230,337)		(1,058,875)
Net customer relationships	1,629,304		1,749,034

Total	$	2,425,926	$	2,640,921

Total amortization expense related to amortizable intangible assets was $84.1 million and $252.1 million for the three and nine months ended September 28, 2025, respectively, and $89.6 million and $271.5 million for the three and nine months ended September 29, 2024, respectively. Estimated amortization expense related to amortizable intangible assets is $84.6 million for the remainder of fiscal year 2025, $332.1 million for fiscal year 2026, $304.6 million for fiscal year 2027, $278.6 million for fiscal year 2028, and $249.2 million for fiscal year 2029

REVVITY, INC. 10-Q