Janus International Group Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Acquired Intangible Assets and Goodwill

Acquired Intangible Assets and Goodwill

9 Months Ended

Sep. 27, 2025

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:


			September 27, 2025								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	5-15	7.9	$	447.8	$	207.0	$	—	$	240.8	$	446.8	$	184.0	$	—	$	262.8
Tradenames and trademarks	Indefinite	Indefinite	107.8		—		12.0		95.8		107.5		—		12.0		95.5
Tradenames and trademarks	5	3.6	1.7		0.5		—		1.2		1.7		0.2		—		1.5
Software development	10-15	7.4	20.3		10.1		—		10.2		20.3		9.0		—		11.3
Non-compete agreements	3-8	3.4	3.0		1.0		—		2.0		3.0		0.6		—		2.4
Total intangible assets			$	580.6	$	218.6	$	12.0	$	350.0	$	579.3	$	193.8	$	12.0	$	373.5

Changes in the gross carrying amount of recognized intangible assets are due to translation adjustments include a gain of $0.9 and a loss of $0.3 for the periods ended September 27, 2025 and December 28, 2024, respectively. The amortization of intangible assets is included in general and administrative expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. Amortization expense was approximately $8.3 and $8.2 for the three month periods ended September 27, 2025 and September 28, 2024, respectively, and was approximately $24.8 and $23.7 for the nine month periods ended September 27, 2025 and September 28, 2024, respectively.

Impairment of Indefinite-Lived Tradenames and Trademarks

During the three months ended September 28, 2024, the Company 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, the Company determined it was more likely than not that the fair value of the acquired assets could be impaired. Consequently, the Company 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 its DBCI tradename.

Goodwill

The changes in the carrying amounts of goodwill are as follows for the periods presented:


(dollar amounts in millions)	Janus North America		Janus International		Consolidated


Balance as of December 28, 2024	$	371.8	$	11.3	$	383.1
Foreign Currency Translation Adjustment	—		0.7		0.7

Balance as of September 27, 2025	$	371.8	$	12.0	$	383.8