Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 100

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 the six months ended March 31, 2025— — — — (28)— (28)Accumulated amortization for the six months ended March 31, 2025— — (269)(3,049)(317)(634)(4,269)Net balance as of March 31, 2025$336,602 $149,921 $3,695 $43,354 $1,405 $3,476 $201,851 Amortization expense is recorded in depreciation and amortization expense in the unaudited condensed consolidated statements of operations and was $2.1 million for the three months ended March 31, 2025 and 2024, which includes amortization expense of $0.3 million for the three months ended March 31, 2025 and 2024, for internally developed software. Amortization expense was $4.3 million and $3.7 million for the six months ended March 31, 2025 and 2024, respectively, which includes amortization expense of $0.6 million and $0.5 million for the six months ended March 31, 2025 and 2024, respectively, for internally developed software. For internally developed software acquisitions and additions during the six months ended March 31, 2025, the weighted average useful life is 4.2 years.The following table summarizes the expected amortization expense for the fiscal years 2025 through 2029 and thereafter ($ in thousands):2025 (excluding the six months ended March 31, 2025)$4,302 20268,604 20278,364 20286,733 20296,732 Thereafter17,195 $51,930 As of March 31, 2025 and September 30, 2024, the carrying value of goodwill totaled $336.6 million, of which $295.3 million was related to our Dealerships reporting segment and $41.3 million was related to our Distribution reporting segment.

7.    Notes Payable — Floor Plan

The Company maintains an ongoing wholesale marine products inventory financing program with a syndicate of banks. The program is administered by Wells Fargo Commercial Distribution Finance, LLC (“Wells Fargo”) as set forth in the Eighth Amended and Restated Inventory Financing Agreement entered into by the Company and certain of its subsidiaries with Wells Fargo and the other financial institutions party thereto on