Matson, Inc.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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6. Goodwill and Intangible Assets
| 6. | GOODWILL AND INTANGIBLE ASSETS |
Goodwill by segment consists of the following as of December 31, 2025 and 2024:
| · · · · · · · · · · · · · · · · · · · | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of December 31, 2025 · · As of December 31, 2024 | |||||||||||||
| · · Ocean · · · · · · · Ocean · · · · · | |||||||||||||
| (In millions) · · Transportation · · Logistics · · Total · · Transportation · · Logistics · · Total | |||||||||||||
| Goodwill | | $222.6 | | $105.2 | | $327.8 | | | $222.6 | | $105.2 | | $327.8 |
Ocean Transportation goodwill of $222.6 million includes $221.8 million related to the acquisition of Horizon Lines, Inc. (“Horizon”) in May 2015. Logistics goodwill of$105.2 million includes $78.6 million related to the acquisition of Span Intermediate, LLC (“Span Alaska”) in August 2016 that was allocated to the Span Alaska reporting unit, and $26.6 million of other Logistics acquisitions that were allocated to the Logistics reporting unit.
Intangible assets by segment consist of the following as of December 31, 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of December 31, 2025 · · As of December 31, 2024 | ||||||||||||||||||||
| · · Gross · · Accumulated · · · · · Gross · · Accumulated · · · | ||||||||||||||||||||
| (In millions) · · Amount · · Amortization · · Net Book Value · · Amount · · Amortization · · Net Book Value | ||||||||||||||||||||
| Ocean Transportation - Customer relationships | | $140.6 | | $71.0 | | $69.6 | | | $140.6 | | $64.4 | | $76.2 | | ||||||
| Logistics: | | | | | | | | | | | | | | | | | | | | |
| Customer relationships | | | 106.6 | | | 56.9 | | | 49.7 | | | | 106.2 | | | 50.3 | | | 55.9 | |
| Trade name | | 27.3 | | | — | | | 27.3 | | | 27.3 | | | — | | | 27.3 | | ||
| Total Logistics | | 133.9 | | | 56.9 | | | 77.0 | | | 133.5 | | | 50.3 | | | 83.2 | | ||
| Total | | $274.5 | | $127.9 | | $146.6 | | | $274.1 | | $114.7 | | $159.4 | | ||||||
Ocean Transportation intangible assets of $140.6 million relate to customer relationships acquired as part of the acquisition of Horizon, and are being amortized over 21 years. Logistics intangible assets include$79.3 million of customer relationships which are being amortized over 20 years, and $27.3 million of an indefinite life trade name, both acquired as part of the Span Alaska acquisition. The remaining Logistics customer relationships relate to various acquisitions and are being amortized over a period of 3 to 13 years.
Intangible assets related amortization expense for the years ended December 31, 2025, 2024 and 2023, are as follows:
| · · · · · · · · · · | |||||||
|---|---|---|---|---|---|---|---|
| · · Years Ended December 31, | |||||||
| (In millions) · · 2025 · · 2024 · · 2023 | |||||||
| Amortization expense | | $13.2 | | $12.8 | | $13.6 | |
As of December 31, 2025, estimated amortization expense related to customer relationship intangible assets are as follows:
| · · · · | |||
|---|---|---|---|
| | | Customer | |
| Year (in millions) · · Relationships | |||
| 2026 | | $12.5 | |
| 2027 | | 12.6 | |
| 2028 | | 12.5 | |
| 2029 | | 12.5 | |
| 2030 | | 10.9 | |
| Thereafter | | 58.3 | |
| Total | | $119.3 | |
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