Air Products & Chemicals, Inc.
For the period ended Sep 30, 2025. Filed Nov 20, 2025.
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FY2025 · Filed Nov 20, 2025
Contents
Goodwill
- GOODWILL
Changes to the carrying amount of consolidated goodwill by segment are as follows:
| Americas | Asia | Europe | Middle East and India | Corporate and other | Total | |
|---|---|---|---|---|---|---|
| Goodwill, net as of 30 September 2023 | $146.6 | $171.9 | $493.5 | $15.8 | $33.9 | $861.7 |
| Currency translation and other | (0.3) | 2.8 | 40.8 | — | 0.1 | 43.4 |
| Goodwill, net as of 30 September 2024 | $146.3 | $174.7 | $534.3 | $15.8 | $34.0 | $905.1 |
| Acquisition | — | — | 31.3 | — | — | 31.3 |
| Currency translation and other | (2.8) | (2.2) | 32.3 | — | 0.2 | 27.5 |
| Goodwill, net as of 30 September 2025 | $143.5 | $172.5 | $597.9 | $15.8 | $34.2 | $963.9 |
| 30 September | 2025 | 2024 | 2023 |
|---|---|---|---|
| Goodwill, gross | $1,238.6 | $1,199.8 | $1,158.4 |
| Accumulated impairment losses(A) | (274.7) | (294.7) | (296.7) |
| Goodwill, net | $963.9 | $905.1 | $861.7 |
(A)Accumulated impairment losses are attributable to our Latin America reporting unit ("LASA") within the Americas segment and include the impact of currency translation.
We review goodwill for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying value of goodwill might not be recoverable. The impairment test for goodwill involves an optional assessment of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If qualitative factors alone are not sufficient to support this conclusion, we perform quantitative testing that involves calculating the fair value of each reporting unit. If the fair value of the reporting unit is less than its carrying value, the difference is recorded as a goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit.
During the fourth quarter of fiscal year 2025, we conducted our annual goodwill impairment test and concluded that it was more likely than not that the fair value of each reporting unit was greater than its carrying value.
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