Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 127

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 127
---
 impairment charge. During 2023 the Company performed an interim quantitative goodwill impairment test, which resulted in an impairment charge of $401.0 million related to certain reporting units which are now included within the SAS reportable segment. The annual tests during the fourth quarters of 2024, 2023 and 2022 resulted in no impairment.  Refer to Note 20. Segment Information for additional information on our reportable segments. The changes in the carrying amount of goodwill for each reportable segment were as follows (in millions): FAMSASTotalBalance at December 31, 2022$408.2 $436.0 $844.2 Goodwill acquired(1)4.1 11.9 16.0 Goodwill impairment— (401.0)(401.0)Foreign currency translation and other5.6 9.3 14.9 Balance at December 31, 2023417.9 56.2 474.1 Foreign currency translation and other(6.0)(2.5)(8.5)Balance at December 31, 2024$411.9 $53.7 $465.6 (1) Related to the measurement period adjustments for the Merger.

There was no accumulated impairment loss for the FAM segment as of December 31, 2024 and 2023. Accumulated impairment loss for the SAS segment was $401.0 million as of December 31, 2024 and 2023. 

Note 11. Intangible Assets, Net

The gross carrying amount and accumulated amortization for intangible assets consisted of the following (in millions):December 31, 2024GrossCarryingAmountAccumulatedAmortizationNetCarryingAmountAmortized Intangible AssetsCustomer relationships$726.6 $254.3 $472.3 Acquired and developed technology90.3 47.9 42.4 Trade names47.2 9.4 37.8 Non-compete agreements2.9 2.9 — Patents1.9 1.0 0.9      Total$868.9 $315.5 $553.4 

76

MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023GrossCarryingAmountAccumulated