SHOPIFY INC
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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8. Goodwill
- Goodwill
The Company's goodwill relates to acquisitions of various companies.
The gross changes in the carrying amount of goodwill during the three months ended March 31, 2025 and the year ended December 31, 2024 are as follows:
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (in US $ millions) | ||
| Balance, beginning of the period | 452 | 427 |
| Acquisitions(1)(2) | 39 | 25 |
| Balance, end of the period | 491 | 452 |
(1) During the three months ended March 31, 2025, the Company completed the acquisition of Vantage Discovery Inc. (see note 18).
(2) During the year ended December 31, 2024, the Company completed individually immaterial acquisitions that resulted in goodwill being recognized.
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