ONEOK INC /NEW/
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
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F. Goodwill and Intangible Assets
Goodwill -The following table sets forth our goodwill, by segment, for the periods indicated:
| Natural GasGathering andProcessing | Natural GasLiquids | Natural GasPipelines | Refined Products and Crude | Total | |
|---|---|---|---|---|---|
| (Millions of dollars) | |||||
| Gross goodwill | $639 | $1,863 | $353 | $5,389 | $8,244 |
| Accumulated impairment losses | (153) | — | — | — | (153) |
| December 31, 2024 | 486 | 1,863 | 353 | 5,389 | 8,091 |
| EnLink Controlling Interest Acquisition adjustment | 8 | (45) | 2 | (2) | (37) |
| Medallion Acquisition adjustment | — | — | — | 4 | 4 |
| December 31, 2025 | $494 | $1,818 | $355 | $5,391 | $8,058 |
Intangible Assets - Our intangible assets relate primarily to acquired customer relationships from our recent acquisitions and are being amortized on a straight-line basis over a weighted average life of 26 years. Amortization expense for intangible assets was $138 million in 2025, $62 million in 2024 and $33 million in 2023. The amortization expense for each of the next five years is estimated to be $135 million. The following table reflects the gross carrying amount and accumulated amortization of intangible assets as of the dates presented:
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (Millions of dollars) | ||
| Gross intangible assets | $3,290 | $3,290 |
| Accumulated amortization | (389) | (251) |
| Intangible assets, net | $2,901 | $3,039 |
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