Janus International Group Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Acquired Intangible Assets and Goodwill

Acquired Intangible Assets and Goodwill

12 Months Ended

Jan. 03, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

7. Acquired Intangible Assets and Goodwill

Intangible assets acquired in a business combination are recognized at fair value and amortized over their estimated useful lives. The carrying amount and accumulated amortization of recognized intangible assets are as follows for the periods presented:


			January 3, 2026								December 28, 2024
(dollar amounts in millions)	Original Useful Life (years)	Remaining Weighted-Average Amortization period (years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Amount		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Amount
Customer relationships	10-15	7.6	$	447.9	$	214.8	$	0.4	$	232.7	$	446.8	$	184.0	$	—	$	262.8
Tradenames and trademarks	Indefinite	Indefinite	107.8		—		12.3		95.5		107.5		—		12.0		95.5
Tradenames and trademarks	5	3.4	1.7		0.6		—		1.1		1.7		0.2		—		1.5
Software development	10-15	7.2	20.3		10.4		—		9.9		20.3		9.0		—		11.3
Non-compete agreements	3-5	3.4	3.0		1.1		—		1.9		3.0		0.6		—		2.4
Total intangible assets			$	580.7	$	226.9	$	12.7	$	341.1	$	579.3	$	193.8	$	12.0	$	373.5

Changes to gross carrying amount of recognized intangible assets due to translation adjustments include a gain of $1.0 and a loss of $0.3 for the years ended January 3, 2026 and December 28, 2024, respectively. Amortization expense was approximately $33.2, $32.0 and $29.8 for the years ended January 3, 2026, December 28, 2024, and December 30, 2023, respectively.

Impairment of Indefinite-Lived Tradenames and Trademarks

During the year ended January 3, 2026, we performed a quantitative impairment test for our annual assessment of goodwill and indefinite-lived intangible tradenames and trademarks. The quantitative test yielded an impairment of our ACT business unit tradename of approximately $0.3. The impairment was recorded in the caption “Impairment” in our Consolidated Statements of Operations and Comprehensive Income and is included within the North America segment. No other impairments were identified in the quantitative tests performed for the year ended January 3, 2026.

During the three months ended September 28, 2024, we experienced a revenue decline relative to expectations, historical performance, and strategic plans. This decrease was primarily driven by soft demand resulting from elevated interest rates and broader macroeconomic

uncertainties, as well as a decline in stock price. Given these qualitative factors, we determined it was more likely than not that the fair value of the acquired assets could be impaired. Consequently, we performed a quantitative test of goodwill and indefinite-lived tradenames and trademarks as of September 28, 2024, ahead of the scheduled annual impairment test on September 29, 2024. This quantitative test yielded an impairment of $2.8 on the DBCI tradename.

In addition, on December 28, 2024, we implemented a strategic decision to focus the use of the DBCI tradename toward the Commercial markets on a go forward basis. The DBCI tradename will no longer be a focus within the self-storage industry. As a result of this strategic change, we performed an additional quantitative assessment of the DBCI tradename. We estimated the fair value of these intangible assets using the relief-from-royalty method which requires assumptions related to projected revenues from our long-range plans. This quantitative test indicated that the carrying value of the DBCI tradename exceeded its fair value, leading us to record a non-cash impairment of an additional $9.2 for a total impairment of $12.0 for the year ended December 28, 2024. The impairment was recorded in the caption “Impairment” in our Consolidated Statements of Operations and Comprehensive Income and is included within the North America segment.

The following table summarizes the aggregate expected amortization expense of definite-lived intangible assets as of January 3, 2026:


(dollar amounts in millions)
2026	$	33.1
2027	33.1
2028	32.9
2029	32.3
2030	31.8
Thereafter	82.4
Total	$	245.6

Goodwill

We perform a quantitative test of goodwill for our annual impairment testing on the first day of the fourth quarter. We determined that it is more likely than not that the goodwill was not impaired for the years ended January 3, 2026 and December 28, 2024, respectively. The changes in the carrying amounts of goodwill for the years ended January 3, 2026 and December 28, 2024 were as follows:


(dollar amounts in millions)	Janus North America		Janus International		Consolidated
Balance as of December 30, 2023	$	357.0	$	11.6	$	368.6
Foreign Currency Translation Adjustment	—		(0.3)		(0.3)
Terminal Door Asset Acquisition	14.8		—		14.8
Balance as of December 28, 2024	$	371.8	$	11.3	$	383.1
Foreign Currency Translation Adjustment	—		0.8		0.8

Balance as of January 3, 2026	$	371.8	$	12.1	$	383.9