Company: IR
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037049
Chunk: 132

Company: Ingersoll Rand Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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272.1 549.1 (243.3)305.8 Tradenames70.9 (36.9)34.0 63.6 (32.4)31.2 Backlog— — — 4.3 (4.2)0.1 Other155.9 (120.2)35.7 128.5 (112.1)16.4 Unamortized intangible assetsTradenames1,832.3 — 1,832.3 1,839.3 — 1,839.3 Total other intangible assets$6,820.8 $(2,486.2)$4,334.6 $6,594.9 $(2,222.1)$4,372.8 Intangible Asset Impairment ConsiderationsDuring the second quarter of 2025, certain organizational changes occurred that impacted the composition of all reporting units within our Precision and Science Technologies segment. As a result of these changes, the Company performed an interim goodwill impairment test for all affected reporting units, utilizing a combination of an income and market approach weighted 75% and 25%, respectively, to determine the fair value.In the second quarter of 2025, the Company recognized non-cash impairments of $170.3 million and $59.4 million to reduce the carrying value of goodwill of our Biopharma and Aerospace & Defense reporting units, respectively. Both the Biopharma and Aerospace & Defense reporting units are comprised entirely of businesses acquired in the recent ILC Dover acquisition.The impairment of the Biopharma reporting unit was primarily attributable to an increase in the discount rate and contraction in market multiples. The impairment of the Aerospace & Defense reporting unit was primarily attributable to a reduction in the long-term forecast associated with a reduction in business with a significant customer of the reporting unit.After considering the effect of the impairments, the Biopharma and Aerospace & Defense reporting units had goodwill of $816.6 million and $15.9 million, respectively.Due to the reduction in the forecast for Aerospace & Defense and the increase in discount rates, the Company also quantitatively tested the relevant indefinite lived tradename for impairment which resulted in a non-cash charge of $36.1 million in the second quarter of 2025, also within the Precision and Science Technologies segment.As of June 30, 2025 and December 31, 2024, there