Company: MTCH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000891103-25-000027
Chunk: 32

Company: Match Group, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 32
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 decision to terminate certain of our live streaming services and our Hakuna app, we recognized impairment charges of $30.6 million related to indefinite- and definite-lived intangible assets in the Match Group Asia and Evergreen & Emerging segments. For certain assets with no remaining cash flow, the Company fully impaired the asset. For assets with remaining cash flows, the Company conducted discounted cash flow valuations. The Company also reclassified an indefinite-lived intangible asset with a carrying value of $47.2 million to the definite-lived intangible asset category during the year ended December 31, 2024 because the asset is no longer considered to have an indefinite life.

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Table of ContentsMATCH GROUP, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

During the year ended December 31, 2022, the Company recognized impairment charges of $270.1 million in the Match Group Asia segment related to Hyperconnect indefinite- and definite-lived intangible assets related to a decline in long-term projections for the business since the acquisition in June 2021, including adverse foreign currency impacts in certain of Hyperconnect’s key markets, and the use of higher discount rates to value the assets. Additionally, the Company recognized $49.4 million of impairment in the Evergreen & Emerging segment during the year ended December 31, 2022 related to certain trade names including the Meetic and Match brands in Europe and certain affinity brands in the U.S., primarily due to declining projections at such brands. These charges are included within impairment and amortization of intangibles in the consolidated statement of operations.Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2024 and 2023, intangible assets with definite lives are as follows:December 31, 2024GrossCarryingAmountAccumulatedAmortizationNetWeighted-AverageUseful Life (Years) (In thousands)Customer lists$100,218 $(71,659)$28,559 5.0Patent and technology43,988 (38,547)5,441 5.9Trade names104,463 (19,946)84,517 7.9Other 18 (18)— —Total$248,687 $(130,170)$118,517 7.1December 31, 2023GrossCarryingAmountAccumulatedAmortizationNetWeight