MAXIMUS, INC.
For the period ended Sep 30, 2025. Filed Nov 20, 2025.
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FY2025 · Filed Nov 20, 2025
MMS$65.64+0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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8. Goodwill and Intangible Assets
- GOODWILL AND INTANGIBLE ASSETS
| Table 8.1: Changes in Goodwill by Segment | ||||
|---|---|---|---|---|
| U.S. Federal Services | U.S. Services | Outside the U.S. | Total | |
| (in thousands) | ||||
| Balance as of September 30, 2023 | $1,559,863 | $164,472 | $54,880 | $1,779,215 |
| Divestitures | — | — | (364) | (364) |
| Foreign currency translation | — | — | 4,020 | 4,020 |
| Balance as of September 30, 2024 | 1,559,863 | 164,472 | 58,536 | 1,782,871 |
| Foreign currency translation | — | — | (776) | (776) |
| Balance as of September 30, 2025 | $1,559,863 | $164,472 | $57,760 | $1,782,095 |
There wereno impairment charges to our goodwill for the years ended September 30, 2025, 2024, and 2023.
| Table 8.2: Details of Intangible Assets, Net | ||||||
|---|---|---|---|---|---|---|
| As of September 30, | ||||||
| 2025 | 2024 | |||||
| Cost | AccumulatedAmortization | IntangibleAssets, Net | Cost | AccumulatedAmortization | IntangibleAssets, Net | |
| (in thousands) | ||||||
| Customer contracts and relationships | $869,638 | $382,107 | $487,531 | $870,810 | $309,067 | $561,743 |
| VES Provider network | 57,000 | 20,583 | 36,417 | 57,000 | 15,833 | 41,167 |
| Technology-based intangible assets | 31,502 | 31,502 | — | 31,586 | 20,786 | 10,800 |
| Assembled workforce | 17,851 | 3,533 | 14,318 | 18,185 | 1,326 | 16,859 |
| Trademarks and trade names | 4,460 | 4,460 | — | 4,474 | 4,474 | — |
| Total | $980,451 | $442,185 | $538,266 | $982,055 | $351,486 | $630,569 |
| Table 8.3: Details of Weighted Average Remaining Lives | |
|---|---|
| As of September 30, 2025 | |
| Customer contracts and relationships | 7.0 years |
| VES Provider network | 7.7 years |
| Assembled workforce | 6.4 years |
| Weighted Average Remaining Life | 7.1 years |
| Table 8.4: Details of Estimated Future Amortization Expense of Intangible Assets, Net | |
|---|---|
| As of September 30, 2025 | |
| (in thousands) | |
| Year ended September 30, 2026 | $81,220 |
| Year ended September 30, 2027 | 81,220 |
| Year ended September 30, 2028 | 81,220 |
| Year ended September 30, 2029 | 71,259 |
| Year ended September 30, 2030 | 67,586 |
| Thereafter | 155,761 |
| Total | $538,266 |
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