Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 91

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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,199)5,924 $57,322 $(14,609)$42,713 $56,720 $(13,199)$43,521 (1)Total weighted remaining average amortization period was 3.2 years and 3.5 years as of June 30, 2025 and December 31, 2024, respectively. Intangible assets principally include non-compete agreements and customer relationships.The Company recorded amortization expense for intangible assets of $0.5 million and $1.0 million for the three months ended June 30, 2025 and 2024, respectively, and $1.1 million and $2.0 million for the six months ended June 30, 2025 and 2024, respectively.

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Table of ContentsMARCUS & MILLICHAP, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 

The changes in the carrying amount of goodwill consisted of the following (in thousands): Six Months Ended June 30, 2025Beginning balance$37,597 Additions from acquisitions — Impact of foreign currency translation301 Ending balance$37,898 Estimated amortization expense for intangible assets by year for the next five years and thereafter consisted of the following (in thousands): June 30, 2025Remainder of 2025$1,004 20261,387 20271,214 20281,210 2029— Thereafter— $4,815 The Company evaluates goodwill for impairment annually in the fourth quarter. In addition to the annual impairment evaluation, the Company evaluates at least quarterly whether events or circumstances have occurred in the period subsequent to the annual impairment testing, which indicate that it is more likely than not an impairment loss has occurred. The Company evaluates its intangible assets that have finite useful lives whenever an event or change in circumstances indicates that the carrying value of the asset may not be recoverable. 

As of June 30, 2025, the Company considered the impact of economic conditions and evaluated its goodwill and intangible assets for impairment testing. The Company estimated the recoverability of the intangible assets by comparing the carrying amount of each asset to the future undiscounted cash flows that the Company expects the asset to generate. The sum of the undiscounted expected future cash flows was greater than the carrying amount of the intangible assets. The Company concluded that as of June 30, 202