Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 61

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 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 30,2025December 31,2024Inventory$228.0 $— Selling, general and administrative132.1 — Payroll and employee benefit costs108.8 8.1 Customer rebates80.0 — Interest expense27.2 — Income taxes— 24.0 Other9.6 6.5 Total accrued expenses$585.7 $38.6 

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Asset Retirement ObligationsA liability for an asset retirement obligation is recorded in the period in which it is incurred. When an asset retirement obligation liability is initially recorded, the Company capitalizes the cost by increasing the carrying amount of the related long-lived asset. For each subsequent period, the liability is increased for accretion expense and