Schneider National, Inc.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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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 changes to our goodwill balances by segment during the years ended December 31, 2025 and 2024.
| (in millions) | Truckload | Logistics | Total |
|---|---|---|---|
| Balance on December 31, 2023 | $317.5 | $14.2 | $331.7 |
| Acquisition (see Note 2) | 46.2 | — | 46.2 |
| Balance on December 31, 2024 | 363.7 | 14.2 | 377.9 |
| Acquisition adjustments (see Note 2) | (40.5) | — | (40.5) |
| Balance on December 31, 2025 | $323.2 | $14.2 | $337.4 |
During the year ended December 31, 2025, we recorded $18.5 million of customer relationships and $10.5 million of trademarks in connection with the finalization of purchase accounting related to the Cowan acquisition. 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.
As of December 31, 2025 and 2024, our Truckload segment had accumulated goodwill impairment charges of $34.6 million.
Goodwill is tested for impairment at least annually using the discounted cash flow, guideline public company, and guideline transaction methods to calculate the fair values of our reporting units. Key inputs used in the discounted cash flow approach include growth rates for sales and operating profit, perpetuity growth assumptions, and discount rates. Key inputs used in the guideline public company and guideline transaction methods include EBITDA valuation multiples of comparable companies and transactions. If interest rates rise, growth rates decrease, or EBITDA valuation multiples of comparable companies and transactions decline, the calculated fair values of our reporting units will decrease, which could impact the results of our goodwill impairment tests.
During the fourth quarter of 2025 and 2024, annual impairment tests were performed for our reporting units with goodwill as of October 31, our assessment date. No impairments resulted as part of the 2025 or 2024 annual impairment tests.
The identifiable finite lived intangible assets other than goodwill listed below are included in internal use software and other noncurrent assets on the consolidated balance sheets.
| December 31, 2025 | December 31, 2024 | |||||
|---|---|---|---|---|---|---|
| (in millions) | Gross CarryingAmount | Accumulated Amortization | NetCarryingAmount | Gross CarryingAmount | Accumulated Amortization | NetCarryingAmount |
| Customer relationships | $62.0 | $9.1 | $52.9 | $43.5 | $4.8 | $38.7 |
| Trademarks | 21.4 | 4.1 | 17.3 | 10.9 | 2.4 | 8.5 |
| Non-compete agreements | 5.4 | 2.6 | 2.8 | 5.4 | 1.5 | 3.9 |
| Total intangible assets | $88.8 | $15.8 | $73.0 | $59.8 | $8.7 | $51.1 |
Amortization expense for intangible assets was $7.1 million and $5.0 million for the years ended December 31, 2025 and December 31, 2024, respectively.
Estimated future amortization expense related to intangible assets is as follows:
| (in millions) | December 31, 2025 |
|---|---|
| 2026 | $7.0 |
| 2027 | 7.0 |
| 2028 | 6.5 |
| 2029 | 5.9 |
| 2030 | 5.9 |
| 2031 and thereafter | 40.7 |
| Total | $73.0 |
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