Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 123

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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ability of its goodwill and indefinite-lived intangible assets and reviews for indicators of impairment. Examples of such indicators include a significant change in the business climate, legal factors, operating performance indicators, competition, sale or disposition of a significant portion of the business or other factors. The following table sets forth the change in the carrying amount of goodwill during the nine months ended September 30, 2025: (in millions)September 30,2025Balance at beginning of period$1.2 Acquisitions5,068.9 Translation and other adjustments0.7 Balance at end of period$5,070.8 

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Intangible AssetsThe Company amortizes certain identifiable intangible assets that have finite lives, currently consisting of customer relationships and trade names. These amortizable intangible assets are amortized over the useful lives of the asset using the straight-line amortization method. Amortizable intangible assets are tested for impairment, when deemed necessary, based on undiscounted cash flows and, if impaired, are written down to fair value based on either discounted cash flows or appraised values. The following table summarizes intangible assets by category: As ofWeighted-Average Remaining Life(1)(Years)(in millions, except time periods)September 30,2025December 31,2024Amortizable intangible assets:Customer relationships and other$3,910.6 $9.4 9.6Trade names230.0 — 2.6Total amortizable intangible assets4,140.6 9.4 9.2Accumulated amortization(203.2)(5.4)Total amortizable intangible assets, net3,937.4 4.0 Indefinite-lived domain names0.7 — Total intangibles, net$3,938.1 $4.0 (1) As of September 30, 2025.The following table summarizes the estimated future amortization expense for intangible assets for each of the next five years ending December 31 and thereafter: (in millions)2025 (October - December)$117.0 2026467.9 2027467.8 2028415.7 2029390.5 Thereafter2,078.5 Total future amortization expense$3,937.4 Accrued ExpensesThe following table presents the components of accrued expenses:As of(in millions)September 30,2025December 31,