Company: MATV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001000623-25-000064
Chunk: 16

Company: Mativ Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 16
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ventories, net are valued at the lower of cost (using the first-in, first-out and weighted average methods) or net realizable value. The Company's costs included in inventory primarily include resins, pulp, chemicals, direct labor, utilities, maintenance, depreciation, finishing supplies and an allocation of certain overhead costs. Machine start-up costs or unplanned machine shutdowns are expensed in the period incurred and are not reflected in inventory. The Company reviews inventories at least quarterly to determine the necessity of write-offs for excess, obsolete or unsalable inventory. The Company estimates write-offs for inventory obsolescence and shrinkage based on its judgment of future realization. These reviews require the Company to assess customer and market demand. There were no material inventory write-offs during the three and nine months ended September 30, 2025 and 2024. The following table summarizes inventories by major class (in millions):    September 30, 2025December 31, 2024Raw materials$118.1 $125.8 Work in process55.7 53.5 Finished goods143.2 160.7 Supplies and other13.3 15.1 Total inventories$330.3 $355.1 

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MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

Note 6. Goodwill

The changes in the carrying amount of goodwill by reportable segment were as follows (in millions): FAMSASTotalBalance at December 31, 2024$411.9 $53.7 $465.6 Goodwill impairment(411.9)— (411.9)Foreign currency translation— 3.6 3.6 Balance at September 30, 2025$— $57.3 $57.3 Accumulated impairment loss for the FAM segment was $411.9 million as of September 30, 2025. Accumulated impairment loss for the SAS segment was $401.0 million as of September 30, 2025. During the first quarter of 2025, primarily in response to a sustained decline in the Company's share price, an interim quantitative goodwill impairment test was performed. The fair value of a reporting unit is determined based on an income approach, utilizing estimated future cash flows discounted at a rate commensurate with the risk involved