Company: MTCH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000891103-25-000027
Chunk: 164

Company: Match Group, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 164
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 18%, and the royalty rates used ranged from 3% to 8%.

If the carrying value of an indefinite-lived intangible asset exceeds its estimated fair value, an impairment equal to the excess is recorded.

During the third quarter ended September 30, 2024, in connection with our decision to terminate certain of our live streaming services and our Hakuna app, we recognized impairment charges of $28.7 million related to indefinite-lived intangible assets in the Match Group Asia and Evergreen & Emerging segments. For certain assets with no remaining cash flows, the Company fully impaired the asset. For assets with remaining cash flows, the Company conducted discounted cash flow valuations. During the year ended December 31, 2022, the Company recognized impairment charges of $244.3 million in the Match Group Asia segment related to the Azar and Hakuna brands at Hyperconnect, $43.9 million in the Evergreen & Emerging segment related to the Meetic and Match brands in Europe, and $5.5 million in the Evergreen & Emerging segment related to certain Affinity brands in the U.S., all of which are included within “Impairment and amortization of intangibles” in the consolidated statement of operations.

At December 31, 2023, the aggregate indefinite-lived intangible asset balance for which the estimate of fair value was less than 110% of carrying values was approximately $76.5 million. These assets identified at December 31, 2023 had additional impairments taken during the year ended December 31, 2024 and the assets were either fully impaired as no additional cash flows were identified or impaired and moved to definite-lived intangible assets during the year ended December 31, 2024. At December 31, 2024, based on our qualitative analysis performed, none of the Company’s remaining indefinite-lived intangible assets fair values were identified as being near their carrying value.

In connection with the annual impairment assessment, the Company reviews the useful lives for intangible assets and whether events or changes in circumstances indicate that an indefinite life may no longer be appropriate. During the year ended December 31, 2024, the Company reclassified certain indefinite-lived intangible assets with a carrying value of $47.2 million to the definite-lived intangible asset category because these assets were no longer considered to have an indefinite life.

Recoverability and Estimated Useful Lives of Definite-lived Intangible Assets

We review the carrying value of all definite-lived int