Schneider National, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 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.
Sep 30, 2025 · Filed Oct 30, 2025
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Goodwill and Other Intangible Assets
- GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill represents the excess of the purchase price of acquisitions over the fair value of the identifiable net assets acquired.
The following table shows the changes to our accumulated goodwill by reportable segment.
| (in millions) | Truckload | Logistics | Total |
|---|---|---|---|
| Balance on December 31, 2024 | $363.7 | $14.2 | $377.9 |
| Acquisition adjustments (see Note 2) | (39.0) | — | (39.0) |
| Balance on September 30, 2025 | $324.7 | $14.2 | $338.9 |
As of September 30, 2025 and December 31, 2024, our Truckload segment had accumulated goodwill impairment charges of $34.6 million.
During the nine months ended September 30, 2025, we recorded $18.5 million of customer relationships and $10.5 million of trademarks related to the acquisition of Cowan. These identifiable, finite-lived intangible assets are being amortized over their weighted-average amortization period of 15.0 years. Refer to Note 2, Acquisitions, for further details.
The identifiable, finite-lived intangible assets listed below are included in internal use software and other noncurrent assets on the consolidated balance sheets and relate to the acquisitions of Cowan, MLS, and M&M.
| September 30, 2025 | December 31, 2024 | |||||
|---|---|---|---|---|---|---|
| (in millions) | Gross CarryingAmount | Accumulated Amortization | NetCarryingAmount | Gross CarryingAmount | Accumulated Amortization | NetCarryingAmount |
| Customer relationships | $62.0 | $8.1 | $53.9 | $43.5 | $4.8 | $38.7 |
| Trademarks | 21.4 | 3.7 | 17.7 | 10.9 | 2.4 | 8.5 |
| Non-compete agreements | 5.4 | 2.3 | 3.1 | 5.4 | 1.5 | 3.9 |
| Total intangible assets | $88.8 | $14.1 | $74.7 | $59.8 | $8.7 | $51.1 |
Amortization expense for intangible assets was $1.7 million and $1.2 million for the three months ended September 30, 2025 and 2024, respectively, and $5.4 million and $3.8 million for the nine months ended September 30, 2025 and 2024, respectively.
Estimated future amortization expense related to intangible assets is as follows:
| (in millions) | September 30, 2025 |
|---|---|
| Remaining 2025 | $1.7 |
| 2026 | 7.0 |
| 2027 | 7.0 |
| 2028 | 6.5 |
| 2029 | 5.9 |
| 2030 and thereafter | 46.6 |
| Total | $74.7 |
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