Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 128

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 128
---
AmortizationNetCarryingAmountAmortized Intangible AssetsCustomer relationships$743.8 $209.4 $534.4 Acquired and developed technology92.6 38.6 54.0 Trade names32.7 6.4 26.3 Non-compete agreements2.9 2.8 0.1 Patents1.9 0.9 1.0 Total$873.9 $258.1 $615.8 Unamortized Intangible AssetsTrade names(1)$15.5 $— $15.5 (1) Amortization of certain trade names began effective January 1, 2024 to reflect current expectations for the period over which the assets will contribute to future cash flows.Amortization expense of intangible assets was $62.9 million, $61.0 million, and $53.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Finite-lived intangibles in the FAM segment are expensed using the straight-line amortization method.  The following table shows the estimated aggregate amortization expense as of December 31, 2024 (in millions):2025$62.4 2026$61.8 2027$61.7 2028$58.3 2029$55.6 

Note 12. Restructuring and Other Impairment Activities

In January 2024, we announced an organizational realignment initiative (the "Plan") that is expected to streamline organizational size and complexity and leverage business critical resources to enhance customer support and reduce overhead cost. Restructuring and other impairment expenses related to the Plan were comprised primarily of severance charges. These charges were $16.4 million for the year ended December 31, 2024, of which $3.1 million, $10.0 million and $3.3 million incurred within FAM, SAS and Unallocated, respectively. Restructuring activities associated with the first wave of the Plan were substantially completed during 2024. Additional costs associated with the first wave of the Plan are expected to be insignificant. Restructuring and other impairment expenses in the FAM segment, excluding costs associated with the Plan were primarily attributable to facility closures announced in prior years. Through December 31, 2024, the FAM Segment 

77

MATIV HOLDINGS, INC.