SERVICE CORP INTERNATIONAL
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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4. Goodwill and Intangible Assets
- Goodwill and Intangible Assets
The changes in the carrying amounts of goodwill for our funeral and cemetery reporting units are as follows:
| Years Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Funeral | Cemetery | Total | Funeral | Cemetery | Total | |
| (In thousands) | ||||||
| Beginning balance — Goodwill | $1,685,033 | $395,982 | $2,081,015 | $1,618,370 | $358,816 | $1,977,186 |
| Increase in goodwill related to acquisitions | 72,501 | 10,810 | 83,311 | 75,734 | 37,167 | 112,901 |
| Reduction of goodwill related to divestitures (1) | — | — | — | (996) | — | (996) |
| Effect of foreign currency | 4,726 | 3 | 4,729 | (8,075) | (1) | (8,076) |
| Total activity | 77,227 | 10,813 | 88,040 | 66,663 | 37,166 | 103,829 |
| Ending balance — Goodwill | $1,762,260 | $406,795 | $2,169,055 | $1,685,033 | $395,982 | $2,081,015 |
(1) Also includes reductions for businesses held for sale.
FORM 10-K 61
PART II
The components of intangible assets at December 31 were as follows:
| Useful Life | |||||
|---|---|---|---|---|---|
| Minimum · Maximum · 2025 · 2024 | |||||
| (Years) · (In thousands) | |||||
| Amortizing intangibles: | |||||
| Covenants-not-to-compete | 1 | - | 15 | $229,391 | $226,292 |
| Customer relationships | 10 | - | 20 | 136,956 | 136,675 |
| Tradenames | 5 | - | 89 | 7,000 | 7,000 |
| Other | 5 | - | 89 | 26,927 | 26,927 |
| 400,274 | 396,894 | ||||
| Less accumulated amortization: | |||||
| Covenants-not-to-compete | 211,805 | 208,589 | |||
| Customer relationships | 99,478 | 94,087 | |||
| Tradenames | 595 | 516 | |||
| Other | 12,503 | 11,764 | |||
| 324,381 | 314,956 | ||||
| Amortizing intangibles, net | 75,893 | 81,938 | |||
| Non-amortizing intangibles: | |||||
| Tradenames | Indefinite | 386,890 | 419,679 | ||
| Other | Indefinite | 10,791 | 10,765 | ||
| Non-amortizing intangibles | 397,681 | 430,444 | |||
| Intangible assets, net — included in Deferred charges and other assets, net | $473,574 | $512,382 | |||
As part of our recoverability testing process during 2025, we incurred an impairment on tradenames of $2.0 million. Amortization expense for intangible assets was $16.4 million, $17.2 million, and $18.7 million for the years ended December 31, 2025, 2024, and 2023, respectively. The following is estimated amortization expense, excluding certain intangibles for which we are unable to provide an estimate because they are amortized based on specific identification in the fulfillment of performance obligations on our preneed contracts, for the five years subsequent to December 31, 2025 (in thousands):
| 2026 | $4,808 |
| 2027 | 3,324 |
| 2028 | 2,725 |
| 2029 | 2,653 |
| 2030 | 2,570 |
| Total estimated amortization expense | $16,080 |
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