Goodwill, Intangible Assets, and Cloud Computing Arrangements

3 Months Ended

Jun. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets, and Cloud Computing Arrangements

5. Goodwill, Intangible Assets, and Cloud Computing Arrangements

Goodwill

Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At June 28, 2025 and March 29, 2025, the Company had goodwill of $363.5 million and $358.0 million, respectively. The change in goodwill balance is due to the acquisition of Iseman Homes. Goodwill is allocated to reporting units included in the U.S. Factory-built Housing segment, which include the Company’s U.S. manufacturing and retail operations. At June 28, 2025, there were no accumulated impairment losses related to goodwill.

Intangible Assets

The components of amortizable intangible assets were as follows:


(Dollars in thousands)	June 28, 2025									March 29, 2025
	Customer Relationships & Other			Trade Names			Total			Customer Relationships & Other			Trade Names			Total
Gross carrying amount	$	82,859		$	49,275		$	132,134		$	82,634		$	46,284		$	128,918
Accumulated amortization		(48,975	)		(18,452	)		(67,427	)		(46,913	)		(17,293	)		(64,206	)
Amortizable intangibles, net	$	33,884		$	30,823		$	64,707		$	35,721		$	28,991		$	64,712

During each of the three months ended June 28, 2025 and June 29, 2024, amortization of intangible assets was $2.9 million.

Cloud Computing Arrangements

The Company capitalizes costs associated with the development of cloud computing arrangements in a manner consistent with internally developed software. At June 28, 2025 and March 29, 2025, the Company had capitalized cloud computing costs, net of amortization of $22.4 million and $23.0 million, respectively. Cloud computing costs are included in other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets. Amortization of capitalized cloud computing costs for the three months ended June 28, 2025 and June 29, 2024 was $1.0 million and $0.2 million, respectively.

Champion Homes, Inc. 10-Q