Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 126

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 tests the recoverability 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 six months ended June 30, 2025: (in millions)June 30,2025Balance at beginning of period$1.2 Acquisitions5,138.6 Translation and other adjustments(1.9)Balance at end of period$5,137.9 

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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 Life1 (Years)(in millions, except time periods)June 30,2025December 31,2024Amortizable intangible assets:Customer relationships and other$3,860.7 $9.4 9.8Trade names229.9 — 2.8Total amortizable intangible assets4,090.6 9.4 9.4Accumulated amortization(87.5)(5.4)Total amortizable intangible assets, net$4,003.1 $4.0 Indefinite-lived domain names0.7 — Total intangibles, net$4,003.8 $4.0 (1) As of June 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 (July - December)$231.3 2026462.6 2027462.6 2028410.5 2029385.3 Thereafter2,050.8 Total future amortization expense$4,003.1 Accrued ExpensesThe following table presents the components of accrued expenses:As of(in millions)June 30,202